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Question
Assertion :Use of paper money is replaced by plastic money. The future will see the electronic money clearance through satellite networking. Reason: RBI is encouraging e-banking.
Assertion :Use of paper money is replaced by plastic money. The future will see the electronic money clearance through satellite networking. Reason: RBI is encouraging e-banking.
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Solution
The correct option is A Both Assertion and Reason are correct and Reason is the correct explanation for Assertion
Plastic money has been replacing the cash for various reasons. One of the major reasons is that the plastic card can be used almost everywhere. The number of card-swiping terminals has gone up drastically. It also eliminates the loss of interest on money in the Bank Account, as cash need not be withdrawn frequently. The trend in the use of plastic money leads to further development, which could be a satellite networking.RBI, being the banker's bank, encourages the use of electronic banking to achieve a 'cash-less' society as it facilitates safe, secure transactions for an enhanced user experience.
Hence it can be said that plastic money is replacing the paper money with the help of e-banking measures laid down by RBI.
Plastic money has been replacing the cash for various reasons. One of the major reasons is that the plastic card can be used almost everywhere. The number of card-swiping terminals has gone up drastically. It also eliminates the loss of interest on money in the Bank Account, as cash need not be withdrawn frequently. The trend in the use of plastic money leads to further development, which could be a satellite networking.
RBI, being the banker's bank, encourages the use of electronic banking to achieve a 'cash-less' society as it facilitates safe, secure transactions for an enhanced user experience.
Hence it can be said that plastic money is replacing the paper money with the help of e-banking measures laid down by RBI.
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