Question

As we all have noticed, banks these days are giving more amphasis on "Branchless Banking". What does this really mean?
A. 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.
B. 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.
C. 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 (A)
• B. Only (B)
• C. Only (A) and (B)
• D. Only (B) and (C)

Answer 1

Answer: (D)

Only (B) and (C)

Branchless banking refers to mainly two things:

First, 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.
Second, 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.