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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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Retail Banking Quiz1

1. Public sector banks in India follow the model of ……

   a. Departmental approach
   b. Strategic Business Unit approach
   c. Integrated approach
   d. all the above

Ans. Departmental approach

2. Securitisation Process involves the following :

   a. The lender first selects the assets they want to securitise.
   b. The issuer (Special Purpose Vehicle) makes payment to the lender       for the loans securitised.
   c. The assets are converted into a pool of securities by the issuer       for the purpose of issuing Pass Through Certificate (PTC) and the       PTCs are sold to other investors who are willing to invest.
   d. All the above.

Ans. All the above.

3. BCSBI codes are reviewed after every …… years.

   a. 2
   b. 3
   c. 4
   d. 5

Ans. 3

4. Returns are more in ……

   a. para banking
   b. corporate banking
   c. Retail Banking
   d. all the above

Ans. Retail Banking

5. By applying Rule 72, rupee will double in 8 years if the rate of    interest is …… % p.a.

   a. 18%
   b. 9%
   c. 8%
   d. 6%

Ans. 9%

6. The form which serves as a data base for cross selling of different    products in banks

   a. account opening form
   b. KYC form
   c. credit card form
   d. none of these

Ans. KY Form

7. Alternet Channels in retail banking refers to ……

   a. ATMs
   b. Internet Banking
   c. Mobile Banking
   d. All the above

Ans. All the above

8. EMI Reset is applicable in case of

   a. Fixed loan borrowers.
   b. Floating rate borrowers
   c. Both A & B
   d. none

Ans. Floating rate borrowers

9. Marketing Mix refers to ……

   a. Product & Price
   b. Promotion & Place
   c. People & Process & Physical evidence
   d. All the above.

Ans. All the above

10. Recovery of loans through Lok Adalats can be resorted to by banks     upto a limit of ……

    a. Rs.2 lacs
    b. Rs.5 lacs
    c. Rs.10 lacs
    d. Rs.20 lacs

Ans. Rs.10 lacs

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