Banking Awareness - Banking Acts, Reforms & Risk Management
A bank faces losses due to failure of its internal IT system during peak transaction hours. Which type of banking risk is this?
A bank faces losses due to failure of its internal IT system during peak transaction hours. Which type of banking risk is this?
easy Q11 of 15
Step-by-Step Solution
Step 1: Identify the source of loss
The loss occurred due to failure of internal systems.Step 2: Match with risk type
Failures of systems, processes, or people fall under operational risk.Final Answer:
Operational risk → Option AQuick Check:
System or process failure = Operational risk ✅
Quick Trick: Internal system or human failure points to operational risk.
Common Mistakes:
MISTAKES- Confusing system failures with market movements.
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