IBPS PO General Awareness: Banking Technology questions with solutions

Q1. Bank of Baroda has started a new Fastag service for vehicles passing through an Electronic Toll Collection system and collecting toll automatically by scanning a QR code located on the windshield. The technology used by the Bank of Baroda is?

1. RTGs
2. RFID
3. SWIFT
4. NEFT

Answer: RFID

FASTag uses RFID technology for automatic toll collection. The tag on the windshield is read by scanners at toll plazas without manual payment.