UPSC General Studies Sample Paper General Studies Sample Paper-3

  • question_answer
    Consider the following statements regarding Brown label ATMs.
    1. Banks outsource the ATM operations to a third party: (Brown label ATMs).
    2. Brown label ATMs do not have any bank's logo.
    3. Companies operating Brown lable ATMs have to separately get license/permission from RBI to run business.
    Which of the statements) given above is/are correct?

    A)  Only 1             

    B)  2 and 3

    C)  1 and 3           

    D)  All of these

    Correct Answer: A

    Solution :

    [a] Statement 1 is correct, Brown label ATMs are the banks outsource the ATM operations to a third party. RBI is not involved directly in issuing license/permission. The outsourcing companies have contractual obligation with respective banks. ATM has the logo of the bank which has outsourced this work. Hence, Statements 2 and 3 are incorrect.

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