BD Merit - Freelancing, BCS, Bank, Primary, Admission, NTRCA

1 . E. banking implies____

A. a banking system that uses computer for maintain records of transaction.
B. a banking system that does not require any paper based ledger or books accounts.
C. a banking system which allows operation of a bank account through internet
D. a banking system which allows maintaince of bank accounts by electronic devices.

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Answer: Option C

Explanation:

Electronic banking is a form of banking in which funds are transferred through an exchange of electronic signals rather than through an exchange of cash, checks, or other types of paper documents.

Transfers of funds occur between financial institutions such as banks and credit unions. They also occur between financial institutions and commercial institutions such as stores. Whenever someone withdraws cash from an automated teller machine (ATM) or pays for groceries using a debit card (which draws the amount owed to the store from a savings or checking account), the funds are transferred via electronic banking.

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