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UGC-NET | UGC NET CS 2015 Dec – II | Question 50
  • Last Updated : 04 May, 2018

__________ uses electronic means to transfer funds directly from one account to another rather than by cheque or cash
(A) M-Banking
(B) E-Banking
(C) O-Banking
(D) C-Banking


Answer: (B)

Explanation: E-banking uses electronic means to transfer funds directly from one account to another rather than by cheque or cash. E-banking is faster then other modes of banking and it saves time as well as resources. It is much safer then cash and cheque and payment gateway is present on the same platform where the market place available. In this mode merchant and bank have their own agreement of privacy and transaction rates.
So, option (B) is correct.

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