New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Consider the following statements about the Micro

    ATMs: 1. These are card swipe machines through which banks can remotely connect to their core banking system. 2. It has connectivity through Global System for Mobile (GSM) communication; hence it can travel from village to village. 3. Micro ATMs are card swipe machines through which banks can remotely connect to their core banking system. Which of the above statements is/are correct?
    A 1 only Correct Answer Incorrect Answer
    B 2 only Correct Answer Incorrect Answer
    C Both 1 and 2 Correct Answer Incorrect Answer
    D 3 only Correct Answer Incorrect Answer
    E 1, 2 and 3 Correct Answer Incorrect Answer

    Solution

    Micro ATMs are card swipe machines through which banks can remotely connect to their core banking system.  This machine comes with a fingerprint scanner attached to it.  In other words, micro-ATMs are the handheld point of sale terminals used to disburse cash in remote locations where bank branches cannot reach.  Micro ATMs are similar to point of sale (PoS) terminals and are a doorstep mobile banking arrangement cum-mobile ATM device.

    Practice Next

    Relevant for Exams: