Question :
What does the letter ‘e’ denotes in the term ‘e- banking’?
Option 1:
Essential Banking
Option 2:
Economic Banking
Option 3: Electronic Banking
Option 4: Expansion Banking
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Correct Answer: Electronic Banking
Solution : The correct option is Electronic Banking
The term "e-banking" tends to refer to the use of computers to conduct financial transactions like cash withdrawals from cash registers or money transfers at points of sale. Alternatively, it is referred to as online or internet banking. Financial institutions like banks and credit unions transfer money back and forth. It is merely the use of telecommunications and electronic networks to transmit various financial services and goods.
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