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Business Studies

e-Banking

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Question

________________________________ is a functional 24 * 7 facility, fund transfer at any time of the day.

A

national electronic fund transfer

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B

real-time gross settlement

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C

immediate payment service

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D

none of the above

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Solution

The correct option is C
immediate payment service

Immediate payment service is a functional 24 * 7 facility, fund transfer at any time of the day.

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Similar questions

Q. Many a time we read in newspaper about the benefits of National Electronic Funds Transfer (NEFT), a delivery service launched by the bank. Why do banks advocate for such delivery channels?
A. It is a system in which no physical transfer takes place, hence risk is very low.
B. In this system banks are not required to transfer any money actually to the account of the customer. Only book adjustment is done. Hence actual fund is not needed.
C. This facility is available to anybody at any place. Even having a bank account is not at all necessary.

Q. provides facilities of electronic fund transfer over the net.

The facility of 24/7 shopping at all major locations is provided by __

Q. Select the proper option from the options given below and rewrite the completed sentence:

An electronic facility of transferring funds through the internet is _______ transfer.
(a) cash
(b) net banking
(c) credit

Q. Under sinking fund method of depreciation any surplus in sinking fund A/c is transferred to ____________.

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