Impact of Technology Adoption and Trends in Banking Technology
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Principles and Practices of Banking — JAIIB.
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What is the primary regulatory body in India that governs technology adoption in banking?
The Reserve Bank of India (RBI) is the primary regulatory body governing technology adoption in banks through circulars, guidelines, and master directions on IT governance and cybersecurity.
What are the four main characteristics of data warehouse data as described in the JAIIB syllabus?
Subject oriented, non-volatile, integrated, and time variant
What does CBS stand for in the context of banking technology?
CBS stands for Core Banking Solution, a centralised platform that enables customers to access their accounts and perform transactions from any branch of the bank.
What does 'non-volatile' mean in the context of a data warehouse?
Data once loaded is not overwritten or altered; it is retained as-is for long periods
What is the significance of RTGS in the Indian payment ecosystem?
RTGS (Real Time Gross Settlement) enables high-value interbank fund transfers settled individually and instantaneously, with a minimum transaction limit of ₹2 lakh, and operates on a 24×7 basis since December 2020.
What technique automatically discovers hidden patterns and relations in large databases to enable predictions of customer behaviour?
Data mining
How does NEFT differ from RTGS in terms of settlement mechanism?
NEFT (National Electronic Funds Transfer) settles transactions in batches at half-hourly intervals on a net basis, whereas RTGS settles each transaction individually and in real time on a gross basis.
What is Electronic Data Interchange (EDI) in banking?
The inter-organisational exchange of business documentation that can be processed by computers with minimal manual intervention
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