Electronic transfer of money in terms of credit/ debit entries of the account-holders in the banks is called____.
Electronic transfer of money in terms of credit/ debit entries of the account-holders in the banks is called____.
Solution
Option 1: e-marketing -> Refers to promoting and selling products/services through electronic channels, not bank transactions.
Option 2: e-business -> Broader term for conducting business online, includes various activities beyond banking.
Option 3: e-fund -> Not a standard or recognized term for electronic banking operations.
Option 4: e-banking -> Specifically deals with electronic banking services including money transfers and account management.
Hence, Option 4: e-banking -> E-banking (Electronic Banking) is the system that allows customers to conduct financial transactions electronically through the bank's digital platforms. It includes services like electronic fund transfers, viewing account balances, checking credit/debit entries, bill payments, and other banking operations without visiting a physical branch. The electronic transfer of money through credit/debit entries in account-holders' accounts is a core function of e-banking systems. -> correct
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