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Retail Banking
April 2023 Examination
Q1. “Traditional
retail banking is at inflection point (point of change) which has been possible
due to emergence of new distribution channels and adoption of disruptive
innovation in terms of products & services and extensive use of
technology”. Comment on above statement in context of Indian retail banking
with appropriate instances/examples. (10
Marks)
Ans 1.
Introduction
The Indian banking system aids financiers and
savers in getting a meeting ground. Together with time, the Indian banking
system structure and India's economic markets have likewise experienced a
considerable makeover since liberalization.
In today's age, banks play a considerable role
in building up public cost savings and making them readily
Q2. Under Banking Regulation
Act of 1949, RBI has extensive powers for licensing, supervising and
controlling banks. Banking industry is highly regulated. Explain the objectives
and need for regulation of banks. (10
Marks)
Ans 2.
Introduction
Banking
laws impose different regulations, laws, requirements, limitations, and
guidelines on the banking sector. These constraints vary from country to
country. However, the goals of the policies are comparable in every country.
Banking law is the process of setup and imposing policies and policies for
different banks and other banks. The main objective of imposing banking law is
to protect consumers from fraudulent activities, ensure the economic system's
stability, and stop criminal activity versus customers. Banking policies are
designed to promote
Q3. Good & efficient Customer Service is the
cornerstone for development and growth of banks. Every bank is championing this
cause and finding ways and means to provide “customer delight”, which is
one-step ahead of good customer service. Consumer Protection Act (COPRA) 2002
is a step in this direction of providing basic rights of consumers.
a. What is customer delight, explain with help of
an example? (5 Marks)
Ans 3a.
Introduction
Customer
delight is offering the customer an experience that surpasses assumptions. It
is to comprehend the customer's requirements and give complete satisfaction to
the customers.
To
satisfy the customers, we need to recognize their demands and demands. To
delight your customers, we need to comprehend what will reverberate with them.
Both customers and
b. Enumerate the
different provisions of COPRA and Consumer Protection Bill of 2019. (5 Marks)
Ans 3b.
Introduction
The
consumer protection costs of 2019 were introduced in Lok Sabha by the priest of
consumer affairs, Food and Public Circulation, Mr. Ram Vilas Paswan, on July 8,
2019. The expense includes the definition of the consumers, civil liberties,
CCPA and charges, and so on. The expense replaces the
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