PIN in banking transaction is known as

Postal Index Number
Permanent Identification Number
Personal Identification Number
Public Interlocking Numeric

The correct answer is C. Personal Identification Number.

A PIN is a four-digit code that is used to authenticate a user’s identity. It is typically used in conjunction with a debit or credit card to authorize transactions. PINs are also used to access ATMs, online banking, and other secure applications.

A PIN is a personal identifier, and it is important to keep it confidential. If your PIN is compromised, it could be used to make unauthorized transactions on your account.

Here is a brief explanation of each option:

  • A. Postal Index Number: A postal index number (PIN) is a unique identifier assigned to a post office or other postal facility. It is used to sort mail and to track the movement of mail.
  • B. Permanent Identification Number: A permanent identification number (PIN) is a unique identifier assigned to an individual. It is used to track the individual’s personal information, such as their name, address, and date of birth.
  • C. Personal Identification Number: A personal identification number (PIN) is a four-digit code that is used to authenticate a user’s identity. It is typically used in conjunction with a debit or credit card to authorize transactions. PINs are also used to access ATMs, online banking, and other secure applications.
  • D. Public Interlocking Numeric: A public interlocking numeric (PIN) is a unique identifier assigned to a public facility. It is used to track the facility’s usage and to monitor its security.
Exit mobile version