GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Indian Financial network
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Indoor Financial network
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Internet Financial network
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International Financial network
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Detailed explanation-1: -Considered the communication backbone of the Indian Banking and Financial Sector, the Indian Financial Network (INFINET) is a membership-only Closed User Group (CUG) Network that comprises the Reserve Bank of India, Member Banks and Financial Institutions.
Detailed explanation-2: -A financial network is a concept describing any collection of financial entities (such as traders, firms, banks and financial exchanges) and the links between them, ideally through direct transactions or the ability to mediate a transaction.
Detailed explanation-3: -Technology changes such as APIs, AI and ML, Cloud Computing, Open Source etc. have tremendously increased the reach of Banking to several hitherto unbanked areas, and also, reduced the cost of providing banking services.