As per the new guidelines, it has been decided to allow which among the following for WLA operators?a)The WLA Operators must purchase wholesale cash directly from the Reserve Bank (Issue Offices) in quantities more than 5 lakh pieces (and multiples thereof) . Cash Chests with full payment.b)The use of any scheduled bank, including cooperative banks and regional rural banks, as a source of funding by the operators.c)The operators will provide Interoperable Cash Deposit and Bill Payment services, pending technical viability and National Payments Corporation of India approval (NPCI).d)Both (b) and (c)Correct answer is option 'D'. Can you explain this answer?

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As per the new guidelines, it has been decided to allow which among the following for WLA operators?

a)
The WLA Operators must purchase wholesale cash directly from the Reserve Bank (Issue Offices) in quantities more than 5 lakh pieces (and multiples thereof) . Cash Chests with full payment.
b)
The use of any scheduled bank, including cooperative banks and regional rural banks, as a source of funding by the operators.
c)
The operators will provide Interoperable Cash Deposit and Bill Payment services, pending technical viability and National Payments Corporation of India approval (NPCI).
d)
Both (b) and (c)

Correct answer is option 'D'. Can you explain this answer?

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As per the new guidelines, it has been decided to allow which among th...

As per the new guidelines, it has been decided to allow:

The WLA Operators must purchase wholesale cash directly from the Reserve Bank (Issue Offices) in quantities more than 1 lakh pieces (and multiples thereof) . Cash Chests with full payment.
The use of any scheduled bank, including cooperative banks and regional rural banks, as a source of funding by the operators.
The operators will provide Interoperable Cash Deposit and Bill Payment services, pending technical viability and National Payments Corporation of India approval (NPCI) .
Displaying adverts for non-financial goods and services anywhere on the WLA property, excluding the main signboard and the WLA screen. However, it must be made sure that the adverts stop after the consumer leaves start a transaction.
Banks will work with authorised WLA Operators to jointly create co-branded ATM cards, and they are also allowed to give their WLAs access to 'on-us' transactions.
All rules, safeguards, regulations, and control measures pertaining to cash handling that apply to banks, as well as the cyber-security framework for ATMs, should likewise apply to the Operating WLA

Hence, option (d) is the correct choice

Answered by Notes Wala · View profile

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As per the new guidelines, it has been decided to allow which among the following for WLA operators?a)The WLA Operators must purchase wholesale cash directly from the Reserve Bank (Issue Offices) in quantities more than 5 lakh pieces (and multiples thereof) . Cash Chests with full payment.b)The use of any scheduled bank, including cooperative banks and regional rural banks, as a source of funding by the operators.c)The operators will provide Interoperable Cash Deposit and Bill Payment services, pending technical viability and National Payments Corporation of India approval (NPCI).d)Both (b) and (c)Correct answer is option 'D'. Can you explain this answer?

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