[amp_mcq option1=”time to time as per licensing policy” option2=”at the end of every financial year” option3=”one time” option4=”at the end of five financial years” correct=”option3″]
The correct answer is C. one time.
Banks are required to obtain one-time approval from the Reserve Bank of India (RBI) for telebanking. This approval is granted based on the bank’s compliance with the RBI’s guidelines on telebanking. The guidelines cover a range of areas, including security, customer protection, and operational risk management.
Once a bank has obtained approval from the RBI, it can offer telebanking services to its customers. These services can include account balance inquiries, fund transfers, bill payments, and other transactions.
Telebanking is a convenient and secure way for customers to access their bank accounts. It is important for banks to ensure that their telebanking services are safe and reliable. The RBI’s guidelines help to ensure that banks meet these standards.
Here is a brief explanation of each option:
- Option A: time to time as per licensing policy. This option is incorrect because banks are not required to obtain approval from the RBI every time they make changes to their telebanking services.
- Option B: at the end of every financial year. This option is incorrect because banks are not required to obtain approval from the RBI at the end of every financial year.
- Option C: one time. This option is correct because banks are required to obtain one-time approval from the RBI for telebanking.
- Option D: at the end of five financial years. This option is incorrect because banks are not required to obtain approval from the RBI at the end of five financial years.