New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    Which of the following system enabling the citizens of

    the country to utilize any ATM of a connected bank?
    A National Credit Software System Correct Answer Incorrect Answer
    B National Financial Software System Correct Answer Incorrect Answer
    C National Financial Switch System Correct Answer Incorrect Answer
    D National Credit Social System Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    • The National Financial Switch facilitates routing of ATM transactions through inter-connectivity between the Bank’s Switches, thereby enabling the citizens of the country to utilize any ATM of a connected bank.
    • National Financial Switch is the largest network of shared automated teller machines in India. It was designed, developed and deployed by the Institute for Development and Research in Banking Technology in 2004, with the goal of inter-connecting the ATMs in the country and facilitating convenience banking. It is owned by NPCI

    Practice Next

    Relevant for Exams: