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DATA COMMUNICATION NETWORKS AND EFT SYSTEMS
What is a Wide Area Network (WAN) in the context of banking?
A WAN connects banks and their branches across cities, states, or countries, enabling centralized data sharing and inter-branch transactions over large geographical distances.
What is a Metropolitan Area Network (MAN) in the context of banking?
Network covering a city connecting multiple bank branches together.
What does SWIFT stand for and what is its primary purpose?
SWIFT stands for Society for Worldwide Interbank Financial Telecommunication; it provides a secure messaging network for international financial transactions between banks globally.
What is the full form of IDRBT and where is it located?
Institute for Development and Research in Banking Technology, Hyderabad.
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