The kind of banking and financial service that gives access to customers on the move is called __________.

Mobile Banking

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Roll Banking

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Tele Banking

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Branch Banking

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None of these

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Solution

The correct option is A Mobile Banking
Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct a range of financial transactions remotely using a mobile device such as a mobile phone or tablet, and using the software provided by the financial institution for the purpose.

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Similar questions

Q. A banking system in which banks provide a wide variety of financial services, including both commercial and investment service is called __________.

Q. ___________ is a computerized machine that provides the customers of banks the facility of accessing their account for dispensing cash and to carry out other financial & non-financial transactions without the need to actually visit their bank branch.

Q. In the following passage, there are blanks each of which has been numbered. These numbers are printed below the passage and against each, five words/phrases are suggested, one of which fits the blank appropriately. Find out the appropriate word in each case.

Mobile banking (M–banking) involves the use of a mobile phone or any other mobile device to _____(1)_____ financial transactions linked to a client’s account. M–banking is new in most countries and most mobile payment models even in developed countries till date operates on a _____(2)_____ scale. A mobile network offers a _____(3)_____ available technology platform onto which other services can be provided at low cost with effective results. For example, M–banking services which use _____(4)_____ such as SMS can be carried at a cost of less than one US cent per message. The low cost of using existing infrastructure makes such service more _____(5)_____ to use by customers with lower purchasing power and opens up access to services which did not reach them earlier due to _____(6)_____ cost of service delivery. Although M-banking is one aspect in the wider _____(7)_____ of e–banking, there are reasons to single it out for focus, especially because there are a lot more people with mobile phones than bank accounts in India.
M–banking could provide a _____(8)_____ solution to bring more 'unbanked’ people to the financial mainstream. Without traditional credit, individuals are _____(9)_____ to exploitation by abusive lenders offering very high interest rates on short-term loans. Also of considerable importance are public safety implications for the unbanked – they are often victims of crime because many operate on a cash-only basis and end up carrying significant amounts of cash on their _____(10)_____ or store cash in their homes.

Find out the appropriate word which fits into the 10th blank.

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