Question 1 The Banking Laws (Amendment) Act 1983 introduced section 45 ZA in the Banking Regulation Act, 1949, which facilitates applicability of nomination to all deposit accounts. What are the benefits of nomination to a depositor?
Question 2 Electronic clearing services comprise both credit and debit. It is regulated by RBI. Describe Electronic Clearing Service (ECS)
Question 3 Banks necessity to implement KYC guidelines for all prospective customers before entertaining new business. Describe KYC guidelines
Question 4 Cross selling is an act of selling a range of additional products to a customer who has already availed of a particular product or service from the seller or the service provider. Describe Cross selling
Question 5 The services extended by banks through technology enabled channels are cost effective and increase the profitability of the bank. Describe Internet banking
Question 6 Describe inter bank settlements