TECHNOLOGY IN RETAIL BANKING PART II & SECURITISATION OF ASSET
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Retail Banking and Wealth Management — JAIIB.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
What is the primary purpose of Core Banking Solution (CBS) in retail banking?
CBS centralises customer data across all bank branches, enabling real-time transaction processing and allowing customers to conduct banking operations from any branch regardless of where their account is maintained.
What is a Direct Benefit Transfer (DBT) and how does it leverage banking technology?
Government benefits transferred directly to beneficiaries' bank accounts electronically.
What does SWIFT stand for and what is its role in banking technology?
SWIFT stands for Society for Worldwide Interbank Financial Telecommunication; it is a global messaging network used by banks and financial institutions to securely transmit information and instructions for financial transactions across borders.
What is an Electronic Clearing Service (ECS) used for in retail banking?
Bulk repetitive payments like salaries, dividends, and utility bills processed electronically.
What is securitisation of assets in the context of retail banking?
Securitisation is the process of pooling illiquid financial assets (such as home loans or auto loans) and converting them into tradable securities that can be sold to investors, thereby enabling banks to free up capital and improve liquidity.
What is IMPS and what makes it different from NEFT and RTGS?
Immediate Payment Service enables 24x7 real-time interbank fund transfers including holidays.
Which RBI guideline governs securitisation transactions in India?
The RBI's 'Framework for Securitisation of Standard Assets' (issued in 2021) governs securitisation transactions in India, prescribing minimum holding period, minimum retention requirement, and other prudential norms.
What is an ATM interchange fee in the context of retail banking technology?
Fee paid by card-issuing bank to ATM-deploying bank for off-us ATM transactions.
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