question_answer

As we all have notices/ banks these days are giving more emphasis on "Branchless Banking". What does this really mean?  [Syndicate 2010]

(1) Banks will not have many branches as used to be in the good old days. Instead, the number of branches will be restricted and will conduct only a specified core business.

(2) Banks will launch/operate many delivery channels like ATMs, Mobile Banking/Internet Banking etc so that people are not required to visit a branch for their usual banking needs.

(3) This means banks will issue only debit or credit cards for all types of day-to- day financial transactions. Cheques/ cash payments will not be allowed.

A)  Only (1)                       

B)  Only (2)

C)  Only (1) & (2)  

D)  Only (2) & (3)

E)  All (1), (2) & (3)