Question 38 of 62
Q.Explain the following term/concept:
E-banking Services
Maharashtra MsbshseMaharashtra HSC (MSBSHSE) Board 2024Subjective· 5mImportance★★★★★
61% · 38/62 Questions
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Start your 14-day free trial to unlock the full solution →E-banking is the delivery of banking services through electronic channels like the internet, mobile phones, ATMs and cards. It allows customers to bank anytime, anywhere, without visiting a branch.
E-banking (Electronic Banking) refers to a system in which banking services are provided to customers through electronic and digital means rather than over the counter at a branch. It is also called internet banking, online banking or virtual banking. The customer uses a computer, mobile phone or card to carry out transactions at any time and from any place.
Common e-banking services:
- ATM (Automated Teller Machine): Allows customers to withdraw and deposit cash, check balances and print statements round the clock without a branch visit.
- Debit and credit cards: Enable cashless payments at shops and online, and cash withdrawal from ATMs.
- Internet banking: Through the bank's website, customers can check accounts, transfer funds, pay bills and request cheque books and statements.
- Mobile banking: Banking through a mobile app or SMS, allowing transfers, payments and balance enquiry on the move.
- Electronic funds transfer: Systems like NEFT, RTGS and IMPS allow quick transfer of money from one account to another. …
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