According to the passage, which of the following ways may help banks sustain the interest of their customers after hooking them?(A) Adoption of a banking mechanism which is not only secure but reassuring to the customers(B) Increasing the number of d ?->(Show Answer!)

1. According to the passage, which of the following ways may help banks sustain the interest of their customers after hooking them?(A) Adoption of a banking mechanism which is not only secure but reassuring to the customers(B) Increasing the number of delivery partners in rural market.(C) Introduction of a simple and intuitive user application

Write Comment

Comments

Tags

Show Similar Question And Answers

QA->The difference between compound interest and simple interest for an amount in 2 years is Rs.If the rate of interest is 8%, the amount is :....

QA->Recently, which of the following Indian bank has launched a virtual queuingmobile application that will help customers save on time ?....

QA->An amount becomes Rs.11,300 in 2 years and Rs.12,600 in 4 years. The rate, if calculated at simple interest is :....

QA->The instruments or grants of adoption given to Hindu and Muslim princess after the Revolt of 1857 were called as:....

QA->The plants which perch on other plants but do not take nourishment from them ?....

MCQ-> Directions: Read the following passage carefully and answer the questions given below it. Certain words have been printed in bold to help you locate them while answering some of the questions.Financial Inclusion (FI) is an emerging priority for banks that have nowhere else to go to achieve business growth. The viability of FI Business is under Question, because while banks and their delivery partners continue to make investments, they haven't seen commensurate returns. In markets like India, most programmes are focussed on customer onboarding, an expensive process which people often find difficult to afford, involving issuance of smart cards to the customers. However, large-scale customer acquisition hasn't translated into large-scale business, with many accounts lying dormant and therefore yielding no return on the bank's investment. For the same reason, Business Correspondent Agents, who constitute the primary channel for financial inclusion, are unable to pursue their activity as a full-time job. One major reason for this state of events is that the customer onboarding process is often delayed after the submission of documents (required to validate the details of the concerned applicant) by the applicant and might take as long as two weeks. By this time initial enthusiasm of applicants fades away. Moreover, the delivery partners don't have the knowledge and skill to propose anything other than the most basic financial products to the customer and hence do not serve their banks' goal to expanding the offering in unbanked markets.Contrary to popular perception, the inclusion segment is not a singular impoverished, undifferentiated mass and it is important to navigate its diversity to identify the right target customers for various programmes. Rural markets do have their share of rich people who do not use banking services simply because they are inconvenient to access or have low perceived value. At the same time, urban markets, despite a high branch density, have a multitude of low wage earners outside the financial net. Moreover, the branch timings of banks rarely coincide with the off-work hours of the labour class.Creating affordability is crucial in tapping the unbanked market. No doubt pricing is a tool, but banks also need to be innovative in right-sizing their proposition to convince customers that they can derive big value even from small amounts. One way of doing this is to show the target audience that a bank account is actually a lifestyle enabler, a convenient and safe means to send money to family or make a variety of purchases. Once banks succeed in hooking customers with this value proposition they must sustain their interest by introducing a simple and intuitive user application, ubiquitous access over mobile and other touch points, and adopting a banking mechanism which is not only secure but also reassuring to the customer. Technology is the most important element of financial inclusion strategy and an enabler of all others. The choice of technology is, therefore, a crucial decision, which could make or mar the agenda. Of the various selection criteria, cost is perhaps the most important. This certainly does not mean buying the cheapest package, but rather choosing that solution which by scaling transactions to huge volumes reduces per unit operating cost. An optimal mix of these strategies would no doubt offer an innovative means of expansion in the unbanked market.Which of the following facts is true as per the passage?
....

MCQ-> Read the following passage carefully and answer the questions given below it. Certain words have been printed in bold to help you to locate them while answering some of the questions.Financial Inclusion (FI) is an emerging priority for banks that have nowhere else to go to achieve business growth. The variable of FI business is under question, because while banks and their delivery partners continue to make investments, they haven’t seen commensurate returns. In markets like India, most programs are focused on customer on-boarding, an expensive process which people often find difficult to afford involving issuance of smart cards to the customers. However, large scale customer acquisition hasn’t translated into large scale business, with many accounts lying dormant and therefore yielding no return on the bank’s investment. For the same reason, Business Correspondent Agents who constitute the primary channel for financial inclusion are able to pursue their activity as a full-time job. One major reason for this state of events is that the customer on-boarding process is often delayed after the submission of documents (required to validate the details of concerned applicant) by the applicant and might take as long as two weeks. By this time the initiation enthusiasm of applicant fades away. Moreover, the delivery partners don’t have the knowledge and skills to propose anything other than the most basic financial products to the customer and hence do not serve their bank’s goal of expanding the offering in unbanked markets. Contrary to popular perception, the inclusion segment is not a singular impoverished, undifferentiated mass and it is important to navigate its diversity to identify the right target customers for various programs.Rural markets do have their share of rich people who do not use banking servicessimpiy because they are inconvenient to access or have low perceived value. At the same time, urban markets, despite a high branch density, have multitude of low wage earners outside the financial net. Moreover, the branch timings of banks rarely coincide with the off-work hours labor class. Creating affordability is circular in tapping the unbanked market. No doubt pricing is a tool, but banks also need to be innovative in right-sizing their proposition to convince customers that they can derive big value even from small amounts. One way of doing this is to show the target audience that a bank account is actually a lifestyle enabler, a convenient and safe means to send money to family or make a variety of purchases. Once banks succeed in hooking customers with this value proposition they must sustain their interest by introducing a simple and intuitive user application, ubiquitous access over mobile and other touch points, and adopting a banking mechanism which is not only secure but also reassuring to the customer. Technology is the most important element of financial inclusion strategy and an enabler of all others.The choice of technology is therefore a crucial decision, which could make or mar the agenda. Of the various selection criteria, cost is perhaps the most important. This certainly does not mean buying the cheapest package, but rather choosing that solution which by scaling transactions to huge volumes reduces per unit operating cost. An optimal mix of these strategies would no doubt offer an innovative means of expansion in the unbanked market.Which of the following fact is ‘’true’’ as per the passage?
....

MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in ‘’bold’’ to help you locate them while answering some of the questions.As increasing dependence on information systems develops, the need for such system to be reliable and secure also becomes more essential. As growing numbers of ordinary citizens use computer networks for banking, shopping, etc., network security in potentially a ‘’massive’’ problem. Over the last few years, the need for computer and information security system has become increasingly evident, as web sites are being defaced with greater frequency, more and more denial-of-service attacks are being reported, credit card information is being stolen, there is increased sophistication of hacking tools that are openly available to the public on the Internet, and there is increasing damage being caused by viruses and worms to critical information system resources.At the organizational level, institutional mechanism have to be designed in order to review policies, practices, measures and procedures to review e-security regularly and assess whether these are appropriate to their environment. It would be helpful if organizations share information about threats and vulnerabilities, and implement procedures of rapid and effective cooperation to prevent, detect and respond to security incidents. As new threats and vulnerabilities are continuously discovered there is a strong need for co-operation among organizations and, if necessary, we could also consider cross-border information sharing. We need to understand threats and dangers that could be ‘’vulnerable’’ to and the steps that need to be taken to ‘’mitigate’’ these vulnerabilities. We need to understand access control systems and methodology, telecommunications and network security, and security management practise. We should be well versed in the area of application and systems development security, cryptography, operations security and physical security.The banking sector is ‘’poised’’ for more challenges in the near future. Customers of banks can now look forward to a large array of new offerings by banks, from an ‘’era’’ of mere competition, banks are now cooperating among themselves so that the synergistic benefits are shared among all the players. This would result in the information of shared payment networks (a few shared ATM networks have already been commissioned by banks), offering payment services beyond the existing time zones. The Reserve Bank is also facilitating new projects such as the Multi Application Smart Card Project which, when implemented, would facilitate transfer of funds using electronic means and in a safe and secure manner across the length and breadth of the country, with reduced dependence on paper currency. The opportunities of e-banking or e-power is general need to be harnessed so that banking is available to all customers in such a manner that they would feel most convenient, and if required, without having to visit a branch of a bank. All these will have to be accompanied with a high level of comfort, which again boils down to the issue of e-security.One of the biggest advantages accruing to banks in the future would be the benefits that arise from the introduction of Real Time Gross Settlement (RTGS). Funds management by treasuries of banks would be helped greatly by RTGS. With almost 70 banks having joined the RTGS system, more large value funds transfer are taking place through this system. The implementation of Core Banking solutions by the banks is closely related to RTGS too. Core Banking will make anywhere banking a reality for customers of each bank. while RTGS bridges the need for inter-bank funds movement. Thus, the days of depositing a cheque for collection and a long wait for its realization would soon be a thing of the past for those customers who would opt for electronic movement of funds, using the RTGS system, where the settlement would be on an almost ‘’instantaneous’’ basis. Core Banking is already in vogue in many private sector and foreign banks; while its implementation is at different stages amongst the public sector banks.IT would also facilitate better and more scientific decision-making within banks. Information system now provide decision-makers in banks with a great deal of information which, along with historical data and trend analysis, help in the building up of efficient Management Information Systems. This, in turn, would help in better Asset Liability Management (ALM) which, today’s world of hairline margins is a key requirement for the success of banks in their operational activities. Another benefit which e-banking could provide for relates to Customer Relationship Management (CRM). CRM helps in stratification of customers and evaluating customer needs on a holistic basis which could be paving the way for competitive edge for banks and complete customer care for customer of banks.The content of the passage ‘’mainly’’ emphasizes----
....

MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases have been given in bold to help you locate them while answering some of the questions: In every religion, culture and civilization feeding the poor and hungry is considered one of the most noble deeds. However such large scale feeding will require huge investment both in resources and time. A better alternative is to create conditions by which proper wholesome food is available to all the rural poor at affordable price. Getting this done will be the biggest charity.Our work with the rural poor in villages of Western Maharashtra has shown that most of these people are landless laborers. After working the whole day in the fields in scorching sun they come home in the evening and have to cook for the whole family. The cooking is done on the most primitive chulha (wood stove) which results in tremendous indoor air pollution. Many of them also have no electricity so they use primitive and polluting kerosene lamps. World Health Organization (WHO) data has shown that about 300,000 deaths/ year in India can be directly attributed to indoor air pollution in such -nuts. At the same time this pollution results in many respiratory ailments and these people spend close Rs. 200-400 per month on medical bills. Besides the pollution, rural poor also eat very poor diet. They eat whatever is available daily at Public Distribution System (PDS) shops and most of the times these shops are out of rations. Thus they cook whatever is available. The hard work together with poor eating takes a heavy toll on their health. Besides this malnutrition also affects the physical and mental health of their children and may lead to creation of a whole generation of mentally challenged citizens. So I feel that the best way to provide adequate food for rural poor is by setting up rural restaurants on large scale. These restaurants will be similar to regular ones but for people below poverty line (BPL) they will provide meals at subsidized rates. These citizens will pay only Rs. 10 per meal and the rest, which is expected to be quite small, will come as a part of Government subsidy. With existing open market prices of vegetables and groceries average cost of simple meal for a family of four comes to Rs. 50 per meal or Rs. 12.50 per person per meal. If the PDS prices are taken for the groceries then the average cost will be Rs. 7.50 per person per meal. This makes the subsidy approximately Rs. 2.50 per person per meal only and hence quite small. The buying of meals could be by the use of UID (Aadhar) card by rural poor. The total cost should be Rs. 30 per day for three vegetarian meals of breakfast, lunch and dinner. The rural poor will get better nutrition and tasty food by eating in these restaurants. Besides the time saved can be used for resting and other gainful activities like teaching children. Since the food will not be cooked in huts, this strategy will result in less pollution in rural households. This will be beneficial for their health. Besides, women's chores will be reduced drastically. Another advantage of eating in these restaurants will be increased social interaction of rural poor since this could also become a meeting place. Eating in restaurants will also require fewer utensils in house and hence less expenditure. For other things like hot water for bath, making tea, boiling milk and cooking on holidays some utensils and fuel will be required. Our Institute NARI has developed an extremely efficient and environment-friendly stove which provides simultaneously both light and heat for cooking and hence may provide the necessary functions. Providing reasonably priced wholesome food is the basic aim and program of Government of India (GOI). This is the basis of their much touted food security program.However in 65years they have not been able to do so. Thus I feel a public private partnership can help in this. To help the restaurant owners the GOI or state Governments should provide them with soft loans and other line of credit for setting up such facilities. Corporate world can take this up as a part of their corporate social responsibility activity. Their participation will help ensure good quality restaurants and services. Besides the charitable work, this will also make good business sense. McDonald's-type restaurant systems for rural areas can be a good model to be set up for quality control both in terms of hygiene and in terms of quality of food material. However focus will be on availability of wholesome simple vegetarian food in these restaurants.More clientele (volumes) will make these restaurants economical. Existing models of dhabas, udipi type restaurants etc. can be used in this scheme. These restaurants may also be able to provide midday meals in rural schools. At present the midday meal program is faltering due to various reasons. Food coupons in western countries provide cheap food for poor. However quite a number of fast food restaurants in US do not accept them. Besides these coupons are most of the times used for non-food items, it will be mandatory for rural restaurants to accept payment via UID cards for BPL citizens. Existing soup kitchens, lagers and temple food are based on charity. For large scale rural use it should be based on good social enterprise business model. Cooking food in these restaurants will also result in much more efficient use of energy since energy/ kg of food cooked in households is greater than that in restaurants. The main thing however will be to reduce drastically the food wastage In these restaurants. Rural restaurants can also be forced to use clean fuels like LPG or locally produced biomass-based liquid fuels. This strategy is very difficult to enforce for individual households. Large scale employment generation in rural areas may result because of this activity. With an average norm of 30 people employed/ 100-chair restaurant, this program has the potential of generating about 20 million jobs permanently in rural areas. Besides the infrastructure development in setting up restaurants and establishing the food chain etc will help the local farmers and will create huge wealth generation in these areas. In the long run this strategy may provide better food security for rural poor than the existing one which is based on cheap food availability in PDS - a system which is prone to corruption and leakage.In accordance with the view expressed by the writer of this article, what is the biggest charity ?
....

MCQ->According to the passage, which of the following ways may help banks sustain the interest of their customers after hooking them? (A) Adoption of a banking mechanism which is not only secure but reassuring to the customers. (B) Increasing the number of delivery partners in rural market. (C) Introduction of a simple and intuitive user application.....