Banking Services and Operations

It is a qualitative measure.

RBI mandated that all banks in India share their ATM networks free of cost starting April 1, 2009. This eliminated ATM usage charges for customers using other bank ATMs, promoting financial inclusion and customer convenience.

Selective credit controls target specific sectors or uses of credit. Moral suasion (persuading banks to comply with central bank guidelines) is a selective tool. Bank rate, CRR, and open market operations are quantitative (general) credit controls affecting overall money supply.

Rural Banks perform core banking functions like accepting deposits and granting advances/loans. However, supplying agricultural inputs to farmers is not a banking function - it's an activity typically done by agricultural supply stores or cooperative societies, not financial institutions.

A smart card, chip card, or integrated circuit card (ICC) is any pocket-sized card with embedded integrated circuits. Smart cards are made of plastic.

As explained earlier cash is needed for transaction, precautionary and speculative motive. Hence, cash is needed for all of these motives.

Bank deposit fulfills the savings needs of a human being.

A third-party administrator (TPA) is an organization that processes insurance claims or certain aspects of employee benefit plans for a separate entity. Reimbursement of the hospitalization expenses can be claimed where cashless hospitalization facility is not availed or treatment is availed in a non-network hospital. In this case, one will have to settle the hospital bill, collect all original hospitalisation documents and submit the documents to TPA's office for their scrutinizing the same in terms of the policy and check the admissibility or otherwise of the claim/expenses. 

All the above statements are correct. 

The term 'Money Laundering' is the concealment of the origin of illegally-obtained money, typically by the means of transfers involving foreign banks or legitimate businesses.

Correct Answer: Bank deposits

Transactional marketing is a business strategy that focuses on single "point of sale" transactions. The emphasis is on maximizing the efficiency and volume of individual sales rather than developing a relationship with the buyer. 

Under part 2 of Banking Regulations Act, banks may carry out businesses lending or advancing money act as an agent contracting for private or public loans. Banks can also undertake the administration of estates acquisition, maintenance, construction of any building convenient for the purposes of company.

Functions of a central bank:

Regulator of Currency

Banker, fiscal agent and adviser to the government

Custodian of cash reserves of commercial banks

Custody and management of foreign exchange reserves

Lender of the last resort

Clearing house for transfer and settlement

Controller of credit

A co-operative bank is a financial entity which belongs to its members who are, at the same time, the owners and the customers of their bank. Co-operative banks are often created by persons belonging to the same local or professional community or sharing a common interest. Co-operative banks generally provide their members with a wide range of banking and financial services. (loans, deposits, banking accounts...)

Fund-based working capital products include cash credit, packing credit and short termed loans etc.