Why is RTGS used? ?->(Show Answer!)

1. Why is RTGS used?

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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----
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MCQ->Why is RTGS used?....

MCQ-> It’s taken me 60 years, but I had an epiphany recently: Everything, without exception, requires additional energy and order to maintain itself. I knew this in the abstract as the famous second law of thermodynamics, which states that everything is falling apart slowly. This realization is not just the lament of a person getting older. Long ago I learnt that even the most inanimate things we know of ―stone, iron columns, copper pipes, gravel roads, a piece of paper ―won’t last very long without attention and fixing and the loan of additional order. Existence, it seems, is chiefly maintenance.What has surprised me recently is how unstable even the intangible is. Keeping a website or a software program afloat is like keeping a yacht afloat It is a black hole for attention. I can understand why a mechanical device like a pump would break down after a while ―moisture rusts metal, or the air oxidizes membranes, or lubricants evaporate, all of which require repair. But I wasn’t thinking that the nonmaterial world of bits would also degrade. What’s to break? Apparently everything.Brand-new computers will ossify. Apps weaken with use. Code corrodes. Fresh software just released will immediately begin to fray. On their own ―nothing you did. The more complex the gear, the more (not less) attention it will require. The natural inclination toward change is inescapable, even for the most abstract entities we know of: bits.And then there is the assault of the changing digital landscape. When everything around you is upgrading, this puts pressure on your digital system and necessitates maintenance. You may not want to upgrade, but you must because everyone else is. It’s an upgrade arms race.I used to upgrade my gear begrudgingly (Why upgrade if it still works?) and at the last possible moment. You know how it goes: Upgrade this and suddenly you need to upgrade that, which triggers upgrades everywhere. I would put it off for years because I had the experiences of one “tiny” upgrade of a minor part disrupting my entire working life. But as our personal technology is becoming more complex, more co-dependents upon peripherals, more like a living ecosystem, delaying upgrading is even more disruptive. If you neglect ongoing minor upgrades, the change backs up so much that the eventual big upgrade reaches traumatic proportions. So I now see upgrading as a type of hygiene: You do it regularly to keep your tech healthy. Continual upgrades are so critical for technological systems that they are now automatic for the major personal computer operating systems and some software apps. Behind the scenes, the machines will upgrade themselves, slowly changing their features over time. This happens gradually, so we don‘t notice they are “becoming.”We take this evolution as normal.Technological life in the future will be a series of endless upgrades. And the rate of graduations is accelerating. Features shift, defaults disappear, menus morph. I’ll open up a software package I don’t use every day expecting certain choices, and whole menus will have disappeared.No matter how long you have been using a tool, endless upgrades make you into a newbie ―the new user often seen as clueless. In this era of “becoming” everyone becomes a newbie. Worse, we will be newbies forever. That should keep us humble.That bears repeating. All of us ―every one of us ―will be endless newbies in the future simply trying to keep up. Here’s why: First, most of the important technologies that will dominate life 30 years from now have not yet been invented, so naturally you’ll be a newbie to them. Second, because the new technology requires endless upgrades, you will remain in the newbie state. Third, because the cycle of obsolescence is accelerating (the average lifespan of a phone app is a mere 30 days!), you won’t have time to master anything before it is displaced, so you will remain in the newbie mode forever. Endless Newbie is the new default for everyone, no matter your age or experience.Which of the following statements would the author agree with the most?
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MCQ-> Please read the three reports (newspaper articles) on ranking of different players and products in smart phones industry and answer the questions that follow. Report 1: (Feb, 2013) Apple nabs crown as current top US mobile phone vendor Apple’s reign may not be long, as Samsung is poised to overtake Apple in April, 2013. For the first time since Apple entered the mobile phone market in 2007, it has been ranked the top mobile phone vendor in the US. For the latter quarter of 2012, sales of its iPhone accounted for 34 percent of all mobile phone sales in the US - including feature phones - according to the latest data from Strategy Analytics. While the iPhone has consistently been ranked the top smartphone sold in the US, market research firm NPD noted that feature phone sales have fallen off a cliff recently, to the point where 8 out of every 10 mobile phones sold in the US are now smartphones. That ratio is up considerably from the end of 2011, when smartphones had just cracked the 50 percent mark. Given this fact it’s no surprise that Apple, which only sells smartphones, has been able to reach the top of the overall mobile phone market domestically. For the fourth quarter of 2012, Apple ranked number one with 34 percent of the US mobile market, up from 25.6 percent year over year. Samsung grew similarly, up to 32.3 percent from 26.9 percent - but not enough to keep from slipping to second place. LG dropped to 9 percent from 13.7 percent, holding its third place spot. It should be noted that Samsung and LG both sell a variety of feature phones in addition to smartphones. Looking only at smartphones, the ranking is a little different according to NPD. Apple holds the top spot with 39 percent of the US smartphone market, while Samsung again sits at number two with 30 percent. Motorola manages to rank third with 7 percent, while HTC dropped to fourth with 6 percent. In the US smartphone market, LG is fifth with 6 percent. Note how the percentages aren’t all that different from overall mobile phone market share - for all intents and purposes, the smartphone market is the mobile phone market in the US going forward. Still, Samsung was the top mobile phone vendor overall for 2012, and Strategy Analytics expects Samsung to be back on top soon. “Samsung had been the number one mobile phone vendor in the US since 2008, and it will surely be keen to recapture that title in 2013 by launching improved new models such as the rumored Galaxy S4”. And while Apple is the top vendor overall among smartphones, its iOS platform is still second to the Android platform overall. Samsung is the largest vendor selling Android-based smartphones, but Motorola, HTC, LG, and others also sell Android devices, giving the platform a clear advantage over iOS both domestically and globally. Report 2: Reader’s Response (2013, Feb) I don’t actually believe the numbers for Samsung. Ever since the debacle in early 2011, when Lenovo called into question the numbers Samsung was touting for tablet shipments, stating that Samsung had only sold 20,000 of the 1.5 million tablets they shipped into the US the last quarter of 2010, Samsung (who had no response to Lenovo) has refused to supply quarterly sales numbers for smartphones or tablets. That’s an indication that their sales aren’t what analysts are saying. We can look to several things to help understand why. In the lawsuit between Apple and Samsung here last year, both were required to supply real sales numbers for devices under contention. The phones listed turned out to have sales between one third and one half of what had been guessed by IDC and others. Tablet sales were even worse. Of the 1.5 million tablets supposedly shipped to the US during that time, only 38,000 were sold. Then we have the usage numbers. Samsung tablets have only a 1.5% usage rate, where the iPad has over 90%. Not as much a difference with the phones but it’s still overwhelmingly in favor of iPhone. The problem is that with Apple’s sales, we have actual numbers to go by. The companies who estimate can calibrate what they do after those numbers come out. But with Samsung and many others, they can’t ever calibrate their methods, as there are no confirming numbers released from the firms. A few quarters ago, as a result, we saw iSupply estimate Samsung’s smartphone sales for the quarter at 32 million, with estimates from others all over the place up to 50 million. Each time some other company reported a higher number for that same quarter, the press dutifully used that higher number as THE ONE. But none of them was the one. Without accurate self-reporting of actual sales to the end users, none of these market share charts are worth a damn! Report 3: Contradictory survey (Feb, 2013) iPhone5 Ranks Fifth In U.S. Customer Satisfaction Survey inShare. The iPhone5 ranks fifth in customer satisfaction according to the results of a recent survey from OnDevice Research, a mobile device research group. In the poll, they asked 320,000 smartphone and tablet users from six different countries, how satisfied they were with their devices. According to 93,825 people from the US, Motorola Atrix HD is the most satisfying and Motorola’s Droid Razr took second spot. HTC Corp (TPE : 2498)’s Rezound 4G and Samsung Galaxy Note 2 took third and fourth spots, while Apple’s iPhone5 landed in fifth spot. It appears that Apple may be lagging in consumer interest. OnDevice Research, Sarah Quinn explained, “Although Apple created one of the most revolutionary devices of the past decade, other manufactures have caught up, with some Android powered devices now commanding higher levels of user satisfaction.” Despite the lower rankings, things aren’t looking too bad for Apple Inc. (NASDAQ:AAPL) elsewhere. In the United Kingdom, they ranked second place, right after HTC One X. Interesting enough, Apple did take top spot for overall satisfaction of mobile device, whereas Google Inc. (NASDAQ:GOOG) ranked second. Motorola Mobility Holdings Inc. (NYSE:NOK) took third, fourth, and fifth places respectively, while Sony Ericsson trailed behind at sixth place. The survey sampled mobile device users in the following countries: United States, United Kingdom, France, Germany, Japan, and Indonesia. Although OnDevice didn’t share the full list of devices mentioned in the survey, it does show some insight to what customers want. Unfortunately, there were still many questions regarding the survey that were left unanswered. Everyone wants to know why Google Inc. (NASDAQ:GOOG) was on the list when they are not an actual smartphone maker and why was Samsung Electronics Co., Ltd. (LON:BC94) on the bottom of the satisfaction list when the brand is leading elsewhere.

Source: 92.825 US mobile users, July 2012 - January 2013 Fortunately, those questions were answered by OnDevice Research’s representative. He explained that the survey was conducted on mobile web where the survey software could detect the taker’s device and since user’s rate their satisfaction levels on a 1 to 10 scale, thanks to the Nexus device, Google was included.If you analyze the three reports above, which of the following statements would be the best inference?
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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.Long ago, the country of Gandhara was ruled by a just and good king Vidyadhara. His subjects were very happy, but as the king grew older, everyone grew more and more worried because the king did not have any children who could take over the kingdom after him. The king was an avid gardener. He spent a lot of time tending to his garden. planting the finest flowers. fruit trees and vegetables. One day. after he finished working in his garden, he proclaimed, ‘I will distribute some seeds to all the children in the kingdom. The one who grows the biggest, healthiest plant within three months will become the price or the princess'. The next day there was a long queue of anxious parents and children outside the palace. Everyone was eager to get a seed arid grow the best plant. Pingala, a poor farmer’s son. was among the children. Like the king, he too was fond of gardening and grew beautiful plants in his backyard. He took the seed from the king and planted it in a pot with great care. Some weeks passed and he plied it with water and manure. but the plant did not appear. Pingala tried changing the soil and transferred the seed to another pot, but even by the end of three months nothing appeared. At last the day came when all the children had to go to the king to show the plant they had grown. They went walking to the palace dressed in their best, holding beautiful plants in their hands. Only Pingala stood sadly, watching them go by. Pingala’s father had watched his son working hard with the seed and lelt sorry for him. ‘Why don’t you go to the king with your empty pot ?’ he suggested. At least he will know you tried your best So Pingala too wore his best suit and joined the others outside the palace, holding his empty pot in his hand and ignoring the laughter around him. Soon the king arrived and began his inspection, The pots held flowers of different shades, beautiful and healthy. but the king did not look happy. At the end of the queue stood Pingala, and when the king reached him, he stopped in surprise. ‘My son, why have you come with an empty pot ? Could you not grow anything? Pingala looked down and said, ‘Forgive me, your highness. I tried my best, I gave it the best soil and manure I had, but the plant would not grow.’ Now the king’s face broke into a smile. He enveloped Pingala in his arms and announced, 'This boy truly deserves to be crowned the prince! I had given everyone roasted seeds, which would never grow. I wanted to see which child was the most honest one, and would admit he or she would not be able to grow anything. Only this young boy told the truth. I am sure he will rule this kingdom one day with truth and honesty'. And indeed that was what happened. When the king grew old and died. Pingala, who had learnt everything from him, came to the throne and ruled Gandhara justly for many years.Why did the king distribute seeds to all the children in his kingdom ?
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