2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Skimming and cloning of debit cards
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Skimming and cloning of credit cards
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Both A & B
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None of the above
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Detailed explanation-1: -The RBI said that the vulnerability arising from the ATMs operating on unsupported version of operating system and non-implementation of other security measures could potentially affect the interests of the banks’ customers adversely, apart from such occurrences, if any, impinging on the image of the bank.
Detailed explanation-2: -According to the new rule, people can now withdraw money from any ATM in the country without a card. Apart from that, the bank will provide facilities to any customer, no matter which bank the customer belongs to.
Detailed explanation-3: -Facilities with White Label ATM Any customer belonging to any bank, can use it. Five transactions are free, Every month. Value added services like mobile recharge, utility bill payments etc.
Detailed explanation-4: -However, non-cash withdrawal transactions (such as balance enquiry, cheque book request, payment of taxes, funds transfer, etc.), on own bank ATMs are not to be part of the number of free ATM transactions.