Introduction to IT–ITeS Industry · Class 9 · CBSE Information Technology (402)
How does Information Technology contribute to modern banking operations? Give two points.
Practice question from Introduction to IT–ITeS Industry (Class 9 · CBSE Information Technology (402)), with the correct answer and a step-by-step solution.
medium · Subjective · Q-62CA43
How does Information Technology contribute to modern banking operations? Give two points.
Answer: Information Technology enables core banking solutions that allow customers to perform transactions anytime through ATMs and online banking. It also ensures fast and secure transfer of funds globally using electronic payment networks like NEFT, RTGS, and UPI.
Solution
IT revolutionizes banking by automating transactions, enabling 24/7 online and mobile banking services, and ensuring secure electronic fund transfers.
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