Q.What is e-banking? Explain the various modern banking services offered to customers.

A credit card lets the holder buy now and pay the bank later, up to a sanctioned limit. This is a short TS Intermediate 2nd-year Commerce 2-mark term.

Explanation

A credit card is a plastic card issued by a bank or financial institution that allows its holder to purchase goods and services, or to withdraw cash, on credit up to a pre-approved credit limit, without paying cash at the time of the transaction. When the cardholder makes a purchase, the bank pays the seller on his behalf; the cardholder then repays the bank, usually within an interest-free credit period, after which interest is charged on the outstanding amount. It offers the convenience of cashless spending, the facility of short-term credit, and wide acceptance, but misuse can lead to overspending and high interest. It is an important part of modern e-banking …

Mobile banking is an e-banking facility that allows customers to do banking transactions anytime, anywhere using a mobile phone through an app, SMS or USSD.

Meaning

Mobile banking is a service provided by banks that allows customers to conduct financial and non-financial transactions using a mobile phone. Through a banking app, SMS or USSD code, a customer can check account balances, view statements, transfer funds (NEFT/IMPS/UPI), pay bills, recharge, and request cheque books or cards. It is a part of electronic banking (e-banking) and offers convenience, speed, round-the-clock access and reduced need to visit a branch, though it requires care about security (PIN/OTP p …

Mobile banking is an electronic banking service that lets customers perform banking transactions such as balance enquiry, fund transfer and bill payment through their mobile phones, anytime and anywhere.

Mobile banking is studied as part of e-banking under Banking in the TS Intermediate 2nd-year Commerce course, which aligns closely with the NCERT/CBSE commerce curriculum.

Meaning of Mobile Banking

Mobile banking is a type of electronic banking in which a customer uses a mobile phone to access and operate the bank account. Through a banking app, SMS or mobile internet, the customer can check the account balance, view transactions, transfer funds (for example by NEFT, IMPS or UPI), pay utility bills, recharge, request a cheque book and receive transaction alerts — all without going to the branch. It offers convenience, saves ti …