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Question
Write short answers for the following question:
What is net-banking transfer?
Answer in Brief
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Solution
Net banking can be defined as the facility of transferring funds electronically. It is a mode of online payment that enables direct
transfer of funds from one bank account to another. Using this facility, a user can make an electronic payment to the bank
account of the online vendor through the internet. In the whole process, the buyer first transfers the whole amount to the seller’s
account through internet and later, it is only after the seller receives the agreed amount, he delivers the goods to the buyer.
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