General Knowledge · General Awareness
Assess the following statements regarding the Challenges towards adoption of Technology by Indian Banks: Statement 1: The high cost of initial investment in hardware and software, coupled with the recurring expenditure on maintenance and upgrades, is a major financial challenge. Statement 2: Integrating modern, API-driven systems with the existing, often rigid and decades-old, legacy systems is a significant technical hurdle. Statement 3: The Indian regulatory environment is highly restrictive, completely prohibiting banks from adopting advanced technologies like Artificial Intelligence and Cloud Computing. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1All statements are correct
- 2Only Statements 2 and 3 are correct
- 3Only Statements 1 and 2 are correct✓
- 4Only Statement 1 is correct
Correct answer
Only Statements 1 and 2 are correct
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