Question

New generation banks are known for their:

• A. Traditional banking methods
• B. Speedy implementation of operations and innovative systems
• C. Limited use of technology
• D. Focus on rural banking only

Answer 1

Answer:

B. Speedy implementation of operations and innovative systems

• Private Banks are known for their speedy implementation of operations by utilizing innovative systems such as ATM, Credit Card, Phone Banking, Net Banking and Core Banking - New Generation Banks

• Banks are classified on the basis of operations as commercial banks, cooperative banks, development banks and specialized banks.

• India's largest bank- State Bank of India