Blockchain (Distributed Ledger Technology) allows for programmable contracts (Smart Contracts) that automatically execute, enforce, and verify the terms of an agreement without intermediaries.

AI algorithms analyze vast data for patterns (Fraud Detection), interact with customers (Chatbots), and assess risk profiles (Credit Scoring) efficiently.

Digital channels (Internet/Mobile) have negligible marginal costs compared to physical infrastructure (Branch/ATM) or human-assisted channels.

SaaS is a cloud model where software applications are hosted by a vendor and made available to customers over the internet (e.g., Google Drive, CRM software), eliminating the need for banks to install and maintain the software locally.

LSPs act as the interface for digital loans. RBI mandates that LSPs must be monitored by the Regulated Entities, and the loan disbursal/repayment must flow directly between the RE and the borrower, bypassing the LSP's pool account.

e-Rupee is the digital form of legal tender issued by the RBI. Unlike cryptocurrencies (which are private and volatile), CBDC is sovereign currency and exchanges 1:1 with cash.

Big Data is characterized by high Volume (amount of data), high Velocity (speed of data generation), and high Variety (structured and unstructured data types).

RPA uses software "bots" to mimic human actions for routine tasks. It is ideal for processes that are repetitive, prone to human error, and follow strict rules (like account opening forms processing, reconciliation of ATM transactions), freeing up humans for higher-value work.

Green Banking aims to reduce the carbon footprint. Technologies that promote paperless transactions (Net banking, E-Statements, Mobile Wallets) directly support this by saving paper and reducing the need for physical transport.

Smart contracts are digital protocols (code) deployed on a blockchain. They automatically execute transactions (like releasing funds) only when specific pre-defined conditions are triggered (e.g., goods delivered), eliminating the need for intermediaries and increasing trust.

Operational CRM handles customer touchpoints. Analytical CRM works in the backend, analyzing the vast data generated by Operational CRM to provide insights (e.g., "Which customer is likely to buy a home loan?") using Data Mining and BI tools.

CBDC is sovereign currency in digital form. Unlike bank deposits (liability of the commercial bank), CBDC is a direct claim on the Central Bank. It does not typically earn interest (to prevent it from competing with bank deposits) and exchanges at par with cash.

A Private Cloud is dedicated infrastructure for a single organization. It offers the highest level of security and control, which is essential for core banking data where data privacy regulations are strict. Public cloud is shared and generally used for non-critical apps.

ML models learn the customer's spending behavior over time. If a transaction occurs that is unusual (e.g., huge amount, strange location, odd time), the ML system flags it instantly as potential fraud, far faster and more accurately than rule-based systems.

The AA framework is built on standardised Open APIs. These APIs allow Financial Information Providers (Banks) to share data with Financial Information Users (Lenders) securely and in real-time, only after the customer gives digital consent via the AA handle.

Hybrid Cloud offers the best of both worlds. Banks can maintain strict compliance and security for core customer data on on-premise/private clouds, while leveraging the massive computing power and lower cost of public clouds for testing, analytics, or peak loads.

Apache Hadoop is an open-source software framework used for distributed storage and processing of huge datasets (Big Data) using the MapReduce programming model.

IoT refers to a network of physical objects embedded with sensors. Banks use it for collateral management (tracking smart warehouses/vehicles) and transforming payment experiences (smartwatches, cars).

NLP is a branch of AI that gives computers the ability to understand, interpret, and respond to text and spoken words in the same way human beings can.

5G allows for faster data transfer with minimal delay (latency). This is crucial for real-time fraud detection, high-frequency trading, and immersive customer experiences.

Quantum computers can solve complex mathematical problems much faster than classical computers. This capability could allow them to crack asymmetric encryption algorithms (like RSA) that currently underpin banking security, necessitating a move to Post-Quantum Cryptography.