Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.251)

251. 

This bank launches India's first OTP facility for ATM cash withdrawals above Rs.10,000.

[A]. HDFC Bank
[B]. SBI Bank
[C]. Axis Bank
[D]. Canara Bank

Answer: Option D

Explanation:

Canara Bank, one of the largest public sector banks in India has launched India's first one-time password (OTP) facility for ATM withdrawals over Rs.10,000 in a day. This extra security armor will protect the card users from illegally withdrawing money from ATMs (Automated Teller Machine). Many banks have started taking steps to protect their customers from ATM fraud. On March 15, 2019, The State Bank of India( SBI) has also launched YONO (You Only Need One) Cash Services for customers to withdraw money from ATMs without a card.

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