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NEO Banking - A Future Digital Banking, Development Scope, Threat and Challenges

What is Neo Banking? NEO banks are the banks which has no physical branches. NEO Banks are digital only financial institutions that operate exclusively online through websites and mobile apps.  The financial services industry has undergone massive transformations from manual to Core Banking and now digital without any physical branch. the evolution of banking has been marked by innovations aimed at making financial services more accessible, convenient, and efficient.   NEO Banks offers services like below: Account Management: Account Opening, Checking, Savings, and Money Transfers Loan Services: Quick and seamless loan approvals Low Fees: Minimal or no fees due to lower operational costs Tech Features: Budget tools, instant payments, and real-time alerts Why Are Neo Banks becoming popular now? Convenience : 24/7 mobile banking—no waiting in lines. Lower Fees : No hidden charges, free international transfers, and zero maintenance fees. User-Friendly Apps : Seamless, f...
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Sample Question - JAIIB - 2013 - Principle and Practices of Banking

1. Security deposit is required in case of education loan
a. Less than 3 lacs
b. 3 lacs to 4 lacs
c. above 4 lacs
d. security is not required for education loan

2. In case of SB - banker is
a. Creditor
b. debtor
c. Privileged Debtor
d. Privileged Creditor 

3. RBI penalty for bank as per amendment in 2012
a. 25 lacs for all violation
b. 75 lacs for all violation
c. 1 crore for all violation
d. 1 crore for each violation

4. Two PIN are there
a. Credit card
b. smart card
c. ATM
d. Charge card

5. Direct Marketing is 
a. 1 level
b. zero level
c. 2 level
d. Multi level

6. Which one is start topology 
a. Hub
b. Switch
c. Router

7. Data is stored in computer file. A number is generated with some key data items of files. This is
a. Checksum
b. Encrypted Data
c. Audit Trail sequence number
d. Message Sequence Number 

8. Increase of SB interest is type of risk
a. Operational
b. Market
c. Credit
d. Investment

9. Balance is 50000. 10000 has been drawn in due business hour. Garnishee order has been received at evening to attach 50000.
a. Rest amount will be attached
b. Remaining balance will be asked by customer
c. Garnishee order will be rejected

10. One directional communication is
a. Simplex
b. Duplex
c. Full duplex
d. Half Duplex
11. If double cross is not there and XYZ bank has written on cheque
a. General
b. Does not mean without cross
c. Specific

 12. Criteria to eligible for PMEG
13. CIBIL keeps information about
a. Corporate 
b. Consumer
c. Customer

 14. Working Capital
a. Bank Borrowing
b. Sundry Debtor
c. Advance Tax Paid

 15. Net Working Capital
a. Excess of short term over long terms
b. Excess of long term over short term 

 16. Lease Financing

 17. Electronic volet contains

 18. Bank guarantee can be for maximum period

 19. Close ended fund issued by
a. RBI
b. Mutual Fund

 20. CBS means
a. ATM
b. Banking over Internet

 21. Application with pointing device

 22. CRM stands for

 23. It can be used to purchase current assets
a. Bank Borrowing
b. Sundry debtors
c. Advance tax paid
d. Long term payments

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