Q: DISCUSS NAMES OF ALTERNATE DELIVERY CHANNELS IN BANKING.
A:This is defined as those channels that expand the reach of services beyond the traditional bank branch channel, have emerged as a result of innovations in information and communication technology and a shift in consumer expectations.
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Examples of such channels are:
The Internet Banking,
automated teller machines (ATMs),
POS devices,
Pass book printers.
Cash deposit machines.
and mobile Banking.
Q: Define internet banking and its importance .
A:Internet Banking Services are the Bank’s services which provide access to account information, products and other services (including Transaction of financial and non-financial in nature) as advised by the Bank from time to time to the customers through the internet banking website of the Bank.
a customer of the Bank authorized to use Internet Banking Services can access various services such as bank statement, transactions in account, transfer of mony from one account to another, NEFT, RTGS,IMPS, Bill payments of various utilities such as mobile, landline, water , electricity., payment of taxes, donations, request for fdr, draft, rly ticket, airline tickets, e commerce payments etc.
this is operated through user ID and password.
Q: What do you mean by POS.
A:PoS or Swipe Machine as it is popularly known is a technological instrument provided to a Merchant Establishment (ME) to carry out the sale of goods or services to customers in a cashless environment. All the customer has to do is swipe his/her Debit, Credit or Prepaid Card.
Q. What is an Automated Teller Machine (ATM)?
A. Automated Teller Machine is a computerized machine that provides the customers of banks the facility of accessing their account for dispensing cash and to carry out other financial & non-financial transactions without the need to actually visit their bank branch.
Q. What are White Label ATMs (WLAs)?
A. ATMs set up, owned and operated by non-banks are called White Label ATMs. Non-bank ATM operators are authorized under Payment & Settlement Systems Act, 2007 by the Reserve Bank of India.
Q. What is the difference between ATM and WLA (White Label ATM)?
A i) In White Label ATM scenario, logo displayed on ATM machine and in ATM premises pertain to WLA Operator instead of a bank. However, for a customer, using WLA is just like using the ATM of other bank (bank other than card issuing bank). ii) Acceptance of cash deposits at the WLAs is not permitted at present.
Q. What has been the rationale of allowing non-bank entities for setting up of WLAs ?
A. The rationale of allowing non-bank entity to set up White Label ATMs has been to increase the geographical spread of ATM for increased / enhanced customer service.
Q. What type of cards can be used at an ATM/WLA?
A. The ATM/ATM cum debit cards, credit cards and open prepaid cards (that permit cash withdrawal) issued by banks can be used at ATMs/WLAs for various transactions.
Q.. What are the services/facilities available at ATMs/WLAs?
A. In addition to cash dispensing, ATMs/WLAs may offer many other services/facilities to bank customers. Some of these services include:
Account Information
Cash Deposit (Acceptance of deposits are not permitted at WLAs)
Regular Bills Payment (not permitted at WLAs)
Purchase of Re-load Vouchers for Mobiles (not permitted at WLAs)
Mini/Short Statement
PIN change
Request for Cheque Book
Q. How can one transact at an ATM/WLA?
A. For transacting at an ATM/WLA, the customer inserts /swipes his/her Card in the ATM/WLA and enters his/her Personal Identification Number (PIN). Usually the transactions are menu driven for facilitating easy operation.
Q. What is Personal Identification Number (PIN)?
A. PIN is the numeric password which is separately mailed / handed over to the customer by the bank while issuing the card. Most banks require the customers to change the PIN on the first use. Customer should not disclose PIN to anybody, including to bank officials. Customers should change the PIN at regular intervals.
Q. Can these cards be used at any bank/non-bank ATM (WLA) in the country?
A. Yes. The cards issued by banks in India may be used at any bank / white label ATM in the country.
Q; Discuss automatic pass book printers.
A: To use this machine this user has to Simply open the passbook to the printing page and insert it into the printer.
With the page turning option, the Passbook Entry Machine will automatically find the page and last line that was printed.
LED panel will notify the user of the printer status through the entire transaction.
Q: What is cash deposit machine.
A:The Cash Deposit Machine, better known as CDM is an ATM like machine that allows customer to deposit cash directly into his/her account using the ATM cum debit card. He/she can use this machine to instantly credit their account without visiting the branch. The transaction receipt also gives them updated account balance. Some of the salient features of this product are:
Instant credit of cash deposit into customer account
Quick and convenient way to deposit cash
Paperless transaction
The per transaction limit is Rs.49,900/-(can vary from bank to bank)
Upto 200(can vary from bank to bank) currency notes can be deposited in a single transaction
The CDM only accepts denominations of Rs.1000/-, Rs.500/- & Rs.100/-.
SBI provides following additional facilities on CDM to customers:
PIN change
Use this service to change your password at regular intervals.
Balance Enquiry
Expecting an inflow of funds in your account? Use this service to check the current available balance in your account. This service is available on the main option screen after swiping your card. You can also ‘Go Green' by selecting the view option as the balance is displayed on the screen else get a transaction receipt by selecting print.
Mini Statement of Account
Keep track of the transactions in your account by availing this service. Mini-statement gives you an insight into the last 10 transactions in your account.
Q: What is mobile banking.
A:We have taken example of SBI mobile banking to understand the concept.
State Bank FreedoM Your Mobile Your Bank
Away from home, balance enquiries can be made and/or money sent to the loved ones or bills can be paid anytime 24x7!!! That is what State Bank FreedoM offers -convenient, simple, secure, anytime and anywhere banking.
1. Mobile Banking Service over Application/ Wireless Application Protocol (WAP)
The service is available on java enabled /Android mobile phones (with or without GPRS) /i-phones where the user is required to download the application on to the mobile handset. The service can also be availed via WAP on all phones (java/non java) with GPRS connection.
The following functionalities are available:
Funds transfer (within and outside the bank)
Immediate Payment Services (IMPS): Click here for details.
Enquiry services (Balance enquiry/ Mini statement)
Cheque book request
Demat Enquiry Service
Bill Payment (Utility bills, credit cards, Insurance premium), Donations, Subscriptions
Mobile /DTH Top up
M Commerce (Merchant payments, SBI life insurance premium)
Business Rules
All Current/ Savings Bank Account holders in P segment and Current accountholders in SME segment are eligible.
Transaction limit per customer per day is Rs.50,000/- with a calendar month limit of Rs.2,50,000/-
All customers can avail the Service irrespective of their telecom service provider.
The Service is free of charge. SMS/GPRS cost will be borne by the customer.
Business Rules
All Current/ Savings Bank Account holders in P segment and Current accountholders in SME segment are eligible.
Transaction limit per customer per day is Rs.1,000/- with a calendar month limit of Rs.5,000/- . However, customers desiring to transact up to Rs.5000/- per day or Rs25,000/- per month may do so after obtaining an One Time Password (OTP)
Service available over all telecom service providers.
The Service is free of charge. SMS cost will be borne by the customer.
For written exam/ interview guidance , you may contact:
ANIL AGGARWAL SIR ( P.O. 1982 BATCH)
EX CHIEF MANGER ,PUNJAB NATIONAL BANK.
Mobile: +91 9811340788
E-mail ID: anilakshita@yahoo.co.in
Office: Flat #49, Trilok Apartments, Patparganj, I.P. Extension, Delhi-110092.
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