Question 13 of 21
Q.Write the facets of electronic banking.
Andhra Pradesh BieapBIEAP AP Intermediate (2nd Year) Commerce Board 2019Subjective· 5mImportance★★★★★est
62% · 13/21 Questions
You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.
Start your 14-day free trial to unlock the full solution →Electronic banking is the delivery of banking services through electronic channels. Its main facets are ATMs, debit/credit cards, internet banking, mobile banking, electronic funds transfer (NEFT/RTGS/IMPS/UPI), ECS, and PoS/tele-banking.
Meaning
E-banking (electronic banking) means conducting banking transactions using electronic and telecommunication networks instead of visiting a bank branch in person. It makes banking faster, available 24×7 and location-independent. This aligns with the NCERT/CBSE commerce treatment of modern banking services.
Facets of Electronic Banking
- Automated Teller Machine (ATM) – Lets customers withdraw and deposit cash, check balances and make transfers at any time without a branch visit.
- Debit and Credit Cards – Plastic/electronic cards used to pay for goods and services and to withdraw cash; debit cards draw from one's own account, credit cards offer short-term credit.
- Internet / Online Banking – Access to one's bank account through the bank's website to transfer funds, pay bills and check statements.
- Mobile Banking – Banking services carried out through a mobile phone or banking app.
- Electronic Funds Transfer (EFT) – Instant or near-instant transfer of money between accounts, including NEFT, RTGS, IMPS and UPI. …
Unlock everything free for 14 days
- Full step-by-step solutions
- Concept-first explanations
- Methods, shortcuts & mistakes
- PYQ mapping + timed mock tests
Full access for 14 days. No credit card required.