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Retail Banking
December 2024 Examination
Q1. Banking is undergoing a constant change due to many internal and external factors. Highlight the factors/reasons responsible for change and what will be the characteristics of the Bank of the future. (10 Marks)
Ans 1.
Introduction
The banking sector is experiencing unprecedented shifts, shaped by advancements in technology, evolving customer expectations, regulatory reforms, and global economic forces. Retail banking, in particular, is adapting to these changes to meet new demands, such as providing seamless digital experiences and personalized customer services. The increasing reliance on digital banking, the rise of FinTech firms, and the demand for secure, instant financial solutions have created an environment where banks must continuously innovate to stay competitive. Additionally, external
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Q2. Banks earn profit by offering two types of products – interest based and non-interest based (fee/advisory products). Enumerate five different products from each category also explain why banks are more inclined to give non-interest-based products. (10 Marks)
Ans 2.
Introduction
Banks generate revenue through a variety of products, broadly categorized as interest-based and non-interest-based products. Interest-based products, such as loans and credit lines, rely on interest earnings, while non-interest-based products, including advisory services and fee-based offerings, generate revenue through service charges and transaction fees. This dual approach enables banks to diversify revenue streams and manage risks associated with fluctuating
Q3. Payment and settlement systems are used for financial transactions in India. The funds move from the payer’s institution to the payee’s institution, possibly via several other institutions as intermediaries and / or one or more payment systems. In India, this consists of RTGS, NEFT, Electronic Clearing Service (ECS) Credit, National Automated Clearing House (NACH) Credit, IMPS and UPI.
- Explain any three payment systems enumerated above. (5 Marks)
Ans 3a.
Introduction
India’s payment and settlement systems have advanced significantly, offering a range of options for conducting financial transactions. The Reserve Bank of India (RBI) has played a critical role in developing and regulating these systems, which enable efficient, secure, and fast transfers of funds across banks and institutions. Among these systems are Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), and Immediate Payment Service (IMPS). These mechanisms have revolutionized how payments are processed, making it easier
- Recently one of the payment institution namely Paytm Payments Bank was banned by Reserve Bank of India for various irregularities. What were the charges/allegations framed by the regulator? (5 Marks)
Ans 3b.
Introduction
Paytm Payments Bank, a prominent digital bank in India, was recently subjected to regulatory scrutiny by the Reserve Bank of India (RBI) due to concerns over certain operational irregularities. As digital banking expands, so does the need for strict compliance with regulatory standards, especially concerning data privacy, customer security, and operational transparency. RBI’s temporary ban on Paytm Payments Bank highlighted the importance of adherence to these