C. B. Gupta solutions for कॉमर्स वॉल्यूम २ [इंग्रजी] इयत्ता १२ आयएससी chapter 4 - Banking - Latest Trends [Latest edition]

Write a short note on ‘RTGS’.

What is ‘National Electronic Fund Transfer’?

What is meant by E-banking?

What is ‘National Electronic Fund Transfer’?

Explain briefly the five agency functions of a commercial bank.

What is the Demand Draft? 

What is a debit card?

Expand the following term:

RTGS

Expand the following term:

NEFT

Mention any two advantages of e-Banking to the customers. 

Compare and contrast the features of RTGS and NEFT. 

List any four features of NEFT. 

Explain the meaning of SMS alert.

What is meant by E-banking?

State any three features of e-banking.

Explain the following:

SMS alerts

Explain the following:

ATM

Write a short note on ‘RTGS’.

Give any two features of RTGS.

What are public deposits?

Briefly explain any two merits of Public Deposits.

What is a Bank Draft?

What is a Banker’s Cheque?

Write a short note on ‘RTGS’.

What is ‘National Electronic Fund Transfer’?

Enumerate various types of E-banking facilities.

What is a commercial bank?

Explain three important functions of a commercial bank.

Describe the advantages of opening a bank account.

Explain the different types of banks.

What is IMPS?

What are Mobile wallets?

What is the maximum limit per transaction in NEFT?

Minimum how much amount can be transferred through RTGS?

NEFT works on the principle of which of the following?

Which of the following is not true about National Electronic Funds Transfer (NEFT) system?

Which of the following is NOT a benefit of E-Banking?

IMPS is managed by ______.

Match the Name of the Banking Service in Column I with its definition in Column II:

Choose from the following options:

Paying through which of the following instruments does not reduce the bank balance at the time of transaction?

A regular short-term loan subject to a limit based on credit worthiness given by a bank to a business, normally to meet working capital requirements, is known as ______.

MMID is used for fund transfer in IMPS. What does the First M and Second M in MMID stands for?

Which of the following statement is correct about RTGS and NEFT?

1. RTGS and NEFT both are ways of Electronic Funds Transfer.
2. NEFT is suitable for high value transactions and RTGS is suitable for low value transactions.
3. NEFT operates on hourly batches and RTGS operates on real time basis.
4. NEFT and RTGS both facilitate intra and inter-bank transfer of funds within and across the city.

Choose the correct answer:

What does I stand for in IMPS?

Which of the following statements is true about NEFT (National Electronic Funds Transfer)?

A company has to make immediate payment of ₹ 10 lakhs to a party for receiving a consignment of raw material to fulfil an urgent order. Which of the following is the quickest way of remitting this money to the bank account of the concerned party?

What is an electronic funds transfer?

MMID is a ______ code.

CBS stands for ______.

Which of the following is not a core feature of CBS (Core/Centralised Banking Solution)?

A card that is used repeatedly to borrow money or buy products and services on credit is called as ______.

In which of the following cards, the amount of dues from the card holder for each and every transaction debited to card holder account as soon as each transaction is notified to the issuer?

In India, businesses can do bank transactions without going to bank ______.

Jay owns an event management company in Jaisalmer which provides customised facilities to meet the needs of the customers and ensures a memorable event for them. He has a staff of 50 persons. Earlier the salary of the staff members was paid through cheques. The employees had to deposit their cheque in the bank and had to wait for two to three working days for it to be cleared. But now the salary reaches their account on the same day itself with the help of a particular banking service. Identify the method adopted by Jay.

Which of the following is not a form of e-banking services?

In case one does not have a bank account, the maximum amount that can be transferred through NEFT system is ______.

______ is an online image-based clearing system where cheque images are sent electronically.

Assertion (A): Bharat issues a cheque of ₹ 2,00,000 to his creditor, Swadesh, whereas his available balance in Current Account is only ₹ 1,00,000.

Reason (R): The customer who maintains a current account with the bank takes permission from the bank to withdraw more money than deposited in his account. This facility is called as Bank Overdraft.

Assertion (A): The customer can get information about the balance in his account and latest transactions on the telephone.

Reason (R): Under Tele banking, the account of a customer is linked by telephone to the bank’s computer.

Assertion (A): RTGS transactions are processed immediately.

Reason (R): RTGS transactions can only be performed if the amount to be transferred is equal to or more than ₹ 2 lakh.

1. Identify and briefly explain any three benefits of e-banking highlighted in the above paragraph. (3)
2. Identify the following in e-banking transactions: (2)
   1. A card that allows the holder to spend money without any balance in his deposit account.
   2. A machine used to withdraw or deposit money at our convenience.
3. Name any two forms of electronic banking. (1)
4. Enumerate any two facilities provided by CBS (Centralised Banking Solution). (2)

1. Identify the service of bank which was used by Better Electronics. (1)
2. Differentiate between the above identified service and NEFT on any three bases. (3)
3. Identify the form of e-banking facility used by Prem in the beginning of the year along with any two features. (2)
4. Which type financial instrument did Prem obtain from his bank to make guaranteed payment of admission fees to his daughter’s college? Can this instrument be obtained online? If yes, how will the bank charge the amount to the customer? (2)

RTGS transfer is ______ and ______.

NEFT transactions take place in ______.

Any person having a good reputation can obtain a ______ from a bank.

By opening a bank account in one branch, the customer can operate the same account in all the ______ branches of the same bank anywhere across the country.

Commercial Banks are joint stock banks which receive deposits from the ______ and ______.

TRUE OR FALSE

Immediate Payment Service (IMPS) is an instant money transfer service facilitated by NPCI.

TRUE OR FALSE

Electronic banking is part of non-virtual banking.

TRUE OR FALSE

A person can get a credit card by depositing money in the bank.

TRUE OR FALSE

A bank draft is a type of cheque drawn by a bank either on its own branch or on another bank in favour of a third party.

TRUE OR FALSE

Post offices serves as savings banks for the benefit of entrepreneurs.