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Data Communication Network and EFT Systems
What does EFT stand for in banking technology?
EFT stands for Electronic Funds Transfer, which refers to the electronic movement of money from one bank account to another through computer-based systems.
Which device converts digital signals to analogue and back for transmission over telephone lines, installed in pairs at each end?
Modem (Modulator-Demodulator)
What is the primary purpose of a data communication network in banking?
A data communication network in banking enables the electronic exchange of financial data between branches, customers, and other institutions, supporting real-time transaction processing and information sharing.
What data rate does optical fibre support according to the JAIIB chapter on data communication?
2 Gigabits per second (2 Gbps)
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