Banking Awareness - Banking Acts, Reforms & Risk Management
Losses due to errors in transaction processing by bank staff come under:
Losses due to errors in transaction processing by bank staff come under:
medium Q4 of 15
Step-by-Step Solution
Step 1: Identify the cause
The loss is caused by internal process errors.Step 2: Classify the risk
Failures of people or processes fall under operational risk.Final Answer:
Operational risk → Option DQuick Check:
Internal process error = Operational risk ✅
Quick Trick: Internal error or fraud = Operational risk.
Common Mistakes:
MISTAKES- Treating staff errors as credit risk.
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