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WHAT is BANKNET?

Important banking qna for banking aspirants, which is helpful in banking exam.

Apr 20, 2015 12:32 IST
  • BANK NET is a payment network established by RBI (on recommendation of Iyer Committee) which functions within India and was launched during 1991. The system makes use of intercity trunk within India and was launched during 1991.
  • The system makes use of intercity trunk voice grade data circuits. The user banks can access BANK NET from their premises through lease or dial up lines at the local centers using ports on PADS and UNIX machines with popular data communication software.
  • RBINET is a communication system operating system operating over the BANKNET.