WLAs are ATMs set up, owned, and operated by non-banks. They are authorized by the RBI under the Payment and Settlement Systems Act, 2007. Examples include Tata Communications Payment Solutions (Indicash).

Digital channels have almost zero marginal cost per transaction compared to the high infrastructure and staff costs of branches and ATMs.

POS terminals are electronic devices used at retail locations to process card payments.

*99# service uses USSD technology to allow basic banking on feature phones (non-smartphones) without internet data.

Secure Sockets Layer (SSL) or Transport Layer Security (TLS) encrypts the communication channel, indicated by "https://" and a padlock icon, protecting passwords and financial data from eavesdropping.

Omni-channel means the customer can start a transaction on one channel (e.g., Mobile) and finish it on another (e.g., Branch) without loss of context. It ensures data synchronization across channels.

Biometric ATMs use fingerprints or iris scans for authentication instead of PINs, making them accessible to rural/illiterate populations who might struggle with numbers or passwords.

Semi-Closed PPIs allow purchase of goods/services at a network of clearly identified merchant locations/establishments but do not permit cash withdrawal (unless fully KYC compliant and interoperable).

Since internet banking relies on digital credentials, the biggest threat is cybercrime, including phishing (stealing passwords) and malware (infecting devices).

Closed wallets (like Amazon Pay balance initially) are issued by an entity for facilitating the purchase of goods and services from that entity only. They do not permit cash withdrawal or redemption.

Chatbots use AI to answer common questions instantly, reducing the load on human customer care agents and improving service availability.

Phishing uses fraudulent emails or websites to trick users into revealing their Netbanking passwords and PINs.

In Omni-channel, a customer can start a loan application on a mobile app and finish it at a branch without re-entering data. In Multi-channel, the branch might not know what happened on the app.

While the WLA machine is owned by a non-bank entity (WLAO), the cash loaded into it is provided by a Sponsor Bank, as non-banks cannot hold currency chests.

RBI permits cash withdrawal at POS terminals (up to ?2000 per day in Tier 3-6 centres and ?1000 in Tier 1-2 centres) to improve cash accessibility.

Managed by NPCI, IMPS enables 24x7 instant money transfer.

BCs act as "extended arms" of the bank to provide financial inclusion services (deposits, withdrawals) in remote areas where physical branches are not viable.

Brown Label ATMs carry the logo of the Sponsor Bank, which handles cash and network connectivity, even though the machine is leased/owned by a third party.

By fraudulently obtaining a duplicate SIM card, the attacker intercepts the OTPs sent by the bank, bypassing the second factor of authentication.

Standard CDMs only accept cash. CRMs "recycle" the cash—validating deposited notes and using them to dispense cash for withdrawals, reducing the frequency of CIT (Cash-in-Transit) replenishment trips.

To promote digital transactions, the limit for IMPS was increased from ?2 Lakh to **?5 Lakh per transaction.

RBI limits cash withdrawal at POS to ?1,000 per day in Tier I and II centers, and ?2,000 per day in Tier III to VI centers.

This model optimizes costs. The Hub handles complex tasks (Foreign Exchange, Loan Processing) while Spokes focus on basic sales and service, reducing the need for experts at every location.

If a user logs in from a new device or country (High Risk), the system adaptively asks for extra proof (MFA). For routine logins (Low Risk), it might allow just a password. This balances security and convenience.

Migration of low-value, high-volume transactions (like updating passbooks) to automated kiosks frees up branch staff for high-value sales and advisory roles.

NUUP (National Unified USSD Platform) uses USSD technology to allow basic banking services (balance check, fund transfer) on feature phones (non-smartphones) without internet data.

While the WLA machine is owned by a non-bank entity (WLAO), the cash loaded into it is provided by a Sponsor Bank, as non-banks cannot hold currency chests.

RBI permits cash withdrawal at POS terminals (up to ?2000 per day in Tier 3-6 centres and ?1000 in Tier 1-2 centres) to improve cash accessibility.

Managed by NPCI, IMPS enables 24x7 instant money transfer using Mobile Number and MMID or Account Number and IFSC.

BCs act as "extended arms" of the bank to provide financial inclusion services (deposits, withdrawals) in remote areas where physical branches are not viable.

Brown Label ATMs carry the logo of the Sponsor Bank, which handles cash and network connectivity, even though the machine is leased/owned by a third party.

By fraudulently obtaining a duplicate SIM card, the attacker intercepts the OTPs sent by the bank, bypassing the second factor of authentication.

Device/SIM binding ensures that the banking app works only on the device containing the registered mobile number's SIM card, preventing fraudsters from using stolen credentials on their own phones.

The limit for fund transfer using USSD (*99#) is capped at ?5,000 per transaction to minimize risk on feature phones.

"On-Us" transactions (Issuer = Acquirer) are processed within the bank's own switch and are usually free/unlimited. "Off-Us" transactions go through the NFS switch and may attract charges.

DMAs act as an extended sales force, reaching out to potential customers for loans/cards, collecting applications, and doing preliminary checks, helping banks expand reach at lower cost.

To improve cash access in smaller towns/rural areas (Tier III-VI), RBI allows a higher limit of ?2,000 per day per card for cash withdrawal at POS terminals. (In Tier I/II, it is ?1,000).

NEFT operates in half-hourly batches throughout the day, starting from 00:30 hours to 00:00 hours. Total batches = 24 hours * 2 = 48.

Micro ATMs are portable devices used by BCs in rural areas to facilitate biometric-based cash deposits/withdrawals using AePS.