Banking · Payment Systems
The primary benefit of using the National Financial Switch (NFS) for a bank is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The ability to transact on the SFMS network.
- 2Exemption from all regulatory compliance requirements.
- 3Wider reach and acceptance of its ATM cards at other banks' ATMs across India.✓
- 4Complete elimination of all ATM maintenance costs.
Correct answer
Wider reach and acceptance of its ATM cards at other banks' ATMs across India.
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