____ uses electronic means to transfer funds directly from one account to…
2015
____ uses electronic means to transfer funds directly from one account to another rather than by cheque or cash
- A.
M-Banking
- B.
E-Banking
- C.
O-Banking
- D.
C-Banking
Attempted by 34 students.
Show answer & explanation
Correct answer: B
Answer: E-Banking
Explanation: Electronic banking (e-banking) uses electronic channels to perform banking transactions instead of cheques or cash. This includes transferring funds directly from one account to another using systems such as online banking portals, electronic fund transfers, NEFT/RTGS, and wire transfers.
Why this is correct: E-banking is the general term for all electronic methods that move money between accounts.
Why mobile banking is not the best answer: Mobile banking is a subset of e-banking focused on mobile devices; the question asks for the broader electronic means.
Why the other terms are incorrect: 'O-Banking' and 'C-Banking' are not standard terms used to denote the general electronic transfer of funds between accounts.
Summary: Select electronic banking as the term that best describes transferring funds directly between accounts by electronic means.