DATA STORAGE DEVICES | IT MODULE C | CAIIB EXAM 2022
In this CAIIB 2022 post, you will read about the applications in banking, data storage, data storage devices from the CAIIB STUDY MATERIAL for NOV 2022 Exams.
CAIIB is one of the most important exams held by IIBF. Caiib is held twice a year, once in June and once in November. The latest announced CAIIB Exam Date 2022 are 27th November, 04th December, and 10th December 2022. Caiib is one of the most prestigious exams for a banker as it aims at providing advanced knowledge essential for better decision-making in the fields of advanced banking management, risk management, human resource management, information technology, etc. Caiib consists of one elective paper and two mandatory papers, which are ABM and BFM. It is entirely up to the candidate which subject they want to choose from the six options for their elective exam. These six options are as follows:
- Risk management
- Information technology
- Retail banking
- Central banking
- Rural banking
- Human resource management
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To help you prepare for CAIIB EXAM 2022, here we are going to discuss the MODULE C of information technology, i.e., applications in banking, along with giving you an insight on data storage devices.
Before beginning with data storage devices, we must know about MODULE C i.e. Applications in Banking of Information Technology. The main components of MODULE C are:
- Centralized Banking System – Core Banking System/ System Administration, Database Administration, Application Server, and Application Administration, Network Administration, Domains, ISPS, Hosting, Data Downloads/ Uploads, Bandwidths, Data Centre, Data Storage Devices, Data Backups/ Restoration, Disaster Recovery Centre
- Delivery Channels – ATM, EFTPOS, Phone Banking, Internet Banking, SMS Banking, Mobile Banking, Credit/ Debit Cards, Smart Cards E-Mails, SMS alerts.
- E-Commerce – Secure Electronic Transfer (SET), Payment Gateways (Credit card/ Debit cards), Authentication of payments, etc.
- PKI – CCA, CA, RA, Digital Certificate, Digital Signature, Non-repudiation of Origin, Non-Repudiation of Receipt.
- Service–Level Agreement
Some aspects of the application of banking are discussed below.
Centralized Banking System
A central bank is a government-run entity that maintains a country’s or a set of countries’ currency and regulates the money supply or the amount in circulation. Price stability is a primary goal of many central banks. Central banks are also obligated by law in some nations to support full employment. Setting interest rates – the “cost of money” – as part of monetary policy is one of the essential tools available to any central bank. A central bank is not the same thing as a commercial bank. A person cannot open an account or request a loan from a central bank, which is not driven by profit as a public institution.
The setting in which the audience or consumer of the material will discover and access it is referred to as the distribution channel. Audiences will rely on services, platforms, or devices to access content, including a web browser, a smartphone app, a kiosk, or a speaker, among other alternatives. There may also be intermediate delivery channels, such as systems that use an API to access the material and further alter it before it is given to audiences. The most important considerations are how to disseminate content and what formats to employ.
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The term “eCommerce” refers to a business strategy that allows businesses and individuals to buy and sell goods and services over the Internet. Computers, tablets, smartphones, and other smart devices can be used to perform e-commerce in four key market categories. Ecommerce transactions allow you to buy almost any product or service you can think of, including books, music, plane tickets, and financial services like stock investing and online banking. As a result, it’s seen as a game-changing technology.
PKI is a set of processes, technologies, and policies that enable you to encrypt and sign data. You can create digital certificates that prove a user’s, device’s, or service’s identity. These certificates establish a secure connection for both public and private systems, including your virtual private network (VPN), internal Wi-Fi, wiki pages, and other MFA-enabled services.
DATA STORAGE DEVICES
Input and output data are two different types of digital information. Users supply input data. Computers generate data. However, without the user’s input, a computer’s CPU cannot compute or produce data.
The data can be directly entered into a computer by the users. They discovered early in the computer era, however, that manually entering data is inefficient in terms of both time and energy. Computer memory, also called random access memory, is a short-term solution (RAM).
However, it has limited storage and memory retention. The data in read-only memory (ROM) can only be read and not necessarily modified, as the name implies. They are in charge of the fundamental functions of a computer. Although dynamic RAM (DRAM) and synchronous DRAM (SDRAM) has improved computer memory, they are still restricted by cost, space, and memory retention.
When a computer shuts down, the RAM’s ability to store data also shuts down. What is the solution? Storage of information.
Users can save data to a device using data storage capacity. The data is also protected if the computer is turned off. Users can also command the computer to pull data from storage devices rather than manually entering data into the computer. Computers can read data from various sources as needed and then create and save output data to the same or other storage locations. Users can also collaborate on data storage.
A data storage device is a piece of technology that is used to store structured data either temporarily or permanently. By structured, we mean that the data is organized so that it is easy to find after the event.
Consider data storage devices like your bedroom dresser. The drawers are storage containers to retain a specified amount of clothing for later use. You go to the relevant drawer and retrieve the desired item when you need to access that apparel. Data storage devices operate similarly and are an essential aspect of today’s computer technology.
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Types of Data Storage Devices
There are two types of data storage devices on the market.
- Dynamic storage necessitates a lot of electricity to keep the data it saves safe. Random-access memory is an example of this form of storage (or RAM). When you talk about your computer’s memory, you’re referring to its repository.
- Even when the power is turned off, static storage keeps its contents. This form of storage can be classified into several categories. They are as follows:
- Magnetic Storage encrypts the information using magnetism and small metal particles inserted into a plastic sheet. Cassette tapes, DAT tapes, floppy discs, and hard discs are examples. It’s understandable if you haven’t heard of all of them. Some of these are most likely ahead of their time.
- Lasers and bumps on a plastic disc encode information in optical storage. CDs, DVDs, and Blu-rays are some examples.
- Flash Storage encrypts data using electronics, specifically flash memory (memory that is both readable and written and retains its contents even when the power is turned off). Solid-state drives (SSDs) and memory sticks are two examples.
- Cloud Storage is simply a remote variant of the previously described technologies. Amazon Web Services (AWS) and Microsoft Azure are examples of cloud computing platforms.
- Information is encoded by punching holes in paper cards using this technology. Punch cards are an excellent example, as they are no longer widely used.
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CAIIB STUDY MATERIAL 2022
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