Delivery Channels in Retail Banking
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Retail Banking and Wealth Management — JAIIB.
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What is the primary purpose of delivery channels in retail banking?
Delivery channels enable banks to deliver financial products and services to customers efficiently without requiring them to visit a branch every time.
Which intermediary is appointed by banks to carry out actual banking transactions in areas where branch setup is not feasible?
Business Correspondent (BC)
Which delivery channel allows customers to conduct banking transactions 24/7 without visiting a branch?
ATMs (Automated Teller Machines) allow customers to withdraw cash, check balances, and perform other transactions round the clock without visiting a branch.
What is the key distinction between a Business Facilitator (BF) and a Business Correspondent (BC)?
A BF can only refer, pursue proposals and facilitate — but cannot personally execute transactions; a BC actually carries out transactions as the bank's agent
What does the term 'branchless banking' refer to in the context of retail banking delivery channels?
Branchless banking refers to the provision of financial services outside conventional bank branches using agents, mobile phones, or other technology-driven channels.
Why are off-site ATMs located away from bank branches at busy public locations?
To move customers away from branch counters, as the cost of service at the counter is comparatively higher
A rural cluster has no feasible scope for a brick-and-mortar branch, yet villagers need to deposit cash, withdraw money and open basic accounts on the bank's behalf — which intermediary is used?
A Business Correspondent (BC) is used; the BC acts as the bank's agent and is authorised to carry out transactions such as deposits, withdrawals, and account opening on behalf of the bank.
How many free ATM transactions per month does RBI mandate at a customer's own bank's ATMs?
5 free transactions
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