Banking · Digital Banking
Which of the following statements regarding RBI guidelines on Internet Banking is INCORRECT?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1RBI approval is not mandatory for commercial banks to launch basic Internet Banking✓
- 2Mandatory disclosure of operational and security risks to customers is required
- 3Security breach failures must be reported to the RBI within a specified timeframe
- 4Banks must implement robust two-factor authentication for fund transfers
Correct answer
RBI approval is not mandatory for commercial banks to launch basic Internet Banking
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