ATM Types — Set 4
Banking · ATM के प्रकार · Questions 31–40 of 50
Which of the following is NOT allowed to be a White Label ATM operator?
Correct Answer: B. Individual persons
Operating a White Label ATM requires a corporate structure and a significant net worth. Individuals are not permitted to own or operate such banking infrastructure directly. This ensures accountability and legal compliance.
Which of these labels is associated with ATMs meant for the general public for e-commerce?
Correct Answer: A. Yellow Label
Yellow Label ATMs are specifically designed for e-commerce transactions. They bridge the gap between online shopping and physical payment processing. They represent a niche within the digital banking ecosystem.
What is the time limit for a customer to file a complaint for a failed ATM transaction to be eligible for compensation?
Correct Answer: A. Within 30 days
A customer should report a failed transaction within 30 days of the incident to their bank. Compensation for delays applies only if the complaint is lodged within this timeframe. Timely reporting is essential for effective investigation.
What is 'Cash-out' in an ATM context?
Correct Answer: A. The machine running out of cash
Cash-out refers to a situation where the ATM machine has no currency notes left to dispense. The RBI can penalize banks if ATMs remain in a 'cash-out' state for more than 10 hours in a month. This policy aims to ensure constant cash availability for the public.
Which ATM type helps in reducing the 'digital divide' in rural India?
Correct Answer: B. White Label ATM
White Label ATMs are specifically targeted at rural and semi-urban areas where bank branches are scarce. By providing access to cash and basic services, they bring the rural population into the formal financial fold. This is a key part of the government's financial inclusion agenda.
What is a 'Talking ATM' designed for?
Correct Answer: A. Visually challenged persons
Talking ATMs provide voice guidance through headphones to help visually impaired individuals use the machine independently. They feature braille keypads and specialized audio instructions. This promotes accessibility and financial autonomy for all citizens.
Which type of bank account can be accessed through an ATM?
Correct Answer: A. Both Savings and Current Accounts
Both savings and current accounts can be linked to a debit card and used at an ATM. Fixed deposits are generally not accessible for direct withdrawal through an ATM. This versatility makes the ATM a primary tool for daily personal and business banking.
What is the 4-digit security code used in ATMs commonly called?
Correct Answer: A. PIN
PIN stands for Personal Identification Number. It is a secret numeric password used to authenticate the user's identity. Customers are always advised not to share their PIN with anyone for security reasons.
The facility of using one bank's card at another bank's ATM is an example of?
Correct Answer: B. Interoperability
Interoperability allows different systems to work together, like the NFS network connecting different banks' ATMs. It provides immense convenience as customers can use any machine regardless of their bank. This is a hallmark of a modern integrated payment system.
Which ATM label is specifically related to women's security?
Correct Answer: D. Pink Label
Pink Label ATMs are installed to provide a safe banking environment specifically for women. They are often located in places like shopping malls or women's colleges. This gender-sensitive approach aims to increase women's participation in formal banking.