Banking Services and Operations

The French bank Societe Marseillaise de Credit (SMC) was involved in a long-running investigation regarding money laundering, and it was cleared of charges in the specific case mentioned.

Historically, the RBI did not transact the business of the Jammu and Kashmir government due to the state's special status under Article 370. This has changed following the reorganization of the state.

Innovative is the standard term used to describe new or creative methods, especially in business or technology. Inventive refers to the ability to create, while incentive is a motivation and exponential refers to rapid growth.

Bank serves money in same way transport serves goods

The RBI issued directives prohibiting banks from granting loans to individuals specifically for the purchase of Kisan Vikas Patras (KVP) to prevent the misuse of credit for small savings instruments.

The Micro Finance Bill of 2007 proposed that NABARD (National Bank for Agriculture and Rural Development) would act as the primary regulator for the microfinance sector in India.

Plastic money is a common term for credit cards, debit cards, and other payment cards made of plastic. It is a convenient alternative to cash.

ATM stands for Automated Teller Machine. It is a specialized computer used by bank customers to manage their accounts.

The first bank-issued credit card, the 'Charg-It' card, was introduced by John Biggins of the Flatbush National Bank of Brooklyn in 1946, but the Franklin National Bank is often cited in specific banking history contexts for its early credit card program in 1951.

Hindrance of exchange  is removed by money and bankings services. There is exchange of goods and services through money. or cash. For instance five kilos rice is purchased for Rs 200, and money is paid for it. For a  convenient and safe mode of payment, required to settle the transactions, banking services can be taken for it. The money can be transferred by cheques, drafts from one place to another which is safe mode and money is not required to be carried.

CBFC stands for the Central Board of Film Certification, which is a statutory body under the Ministry of Information and Broadcasting in India. Its primary role is to regulate the public exhibition of films.

Correct Answer: Core Banking Solutions;

In modern banking, marketing is considered a collective responsibility. Every employee acts as a brand ambassador and contributes to customer relationship management.

NAV stands for Net Asset Value, which is the value per share of a mutual fund scheme. It is calculated by dividing the total value of all assets minus liabilities by the number of outstanding shares.

Zero balance accounts, such as salary accounts, are designed to facilitate ease of banking for employees where the employer ensures regular credits.