Retail banking June 2024

Description

Retail Banking

June 2024 Examination

 

 

1. Retail Banking has grown exponentially over the years. What are the reasons for its growth? What changes you perceive in coming years? (10 Marks)

Ans 1.

Introduction

Retail banking has undergone significant transformation, expanding its influence and scope across the financial sector. Historically, retail banks primarily offered basic services such as savings accounts, personal loans, and mortgages. However, in recent decades, the proliferation of digital technology has catalyzed a shift, enabling banks to provide a more comprehensive and personalized banking experience. This expansion is driven by several key factors including technological advancements, regulatory changes, evolving consumer expectations, and increasing financial literacy

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2. Banks are exposed to different types of risk. What are different types of risks banks are exposed? Explain any five with risk mitigation strategies. (10 Marks)

Ans 2.

Introduction

Banks operate in a complex environment where they are constantly exposed to a variety of risks. These risks can affect their financial stability, operational integrity, and reputation among clients and regulators. Understanding these risks is crucial for banks to maintain trust and perform efficiently in the financial market. The types of risks include credit risk, market risk, operational risk, liquidity risk, and compliance risk. Each of these risks poses distinct challenges and requires specific strategies for mitigation. The ability of a bank to effectively manage these risks determines its

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3. Digital Banking is one-step towards Financial Inclusion Policy of Government of India.
4. Enumerate the different channels of Digital banking (5 Marks)

Ans 3a.

Introduction

Digital banking represents a transformative shift in how financial services are delivered, enabling broader access and convenience. In India, this shift is pivotal to achieving the government’s Financial Inclusion Policy, aimed at ensuring that financial services are accessible to every stratum of society. The advent of various digital banking channels has played a crucial role in this mission.

Concept and

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1. What is the vision of government with regard to Financial Inclusion? (5 Marks)

Ans 3b.

Introduction

The Indian government’s vision for financial inclusion aims to bridge the gap between the economically disadvantaged sections of society and the mainstream financial services. This vision is rooted in the belief that access to financial services is a key enabler of economic empowerment and development, ensuring that everyone, regardless of their economic status, has the opportunity to participate in