Home | | Banking Financial Services Management | Important Questions and Answers: High Tech E-Banking

Chapter: Business Science : Banking Financial Services Management : High Tech E-Banking

Important Questions and Answers: High Tech E-Banking

Business Science - Banking Financial Services Management - High Tech E-Banking - Important Questions and Answers: High Tech E-Banking



1.Write about payment system.

According to BIS “A payment system consist of instruments, banking procedures and typically interbank funds transfer that ensures and facilitate the circulation of money. In essence, it facilitates corporation, businesses and consumers to transfer funds to one other”.


2.Write a note on Real Time Gross Settlement(RTGS).

system is a funds transfer mechanism where transfer of money takes place from one bank to another on a 'real time' and on 'gross' basis. This is the fastest possible money transfer system through the banking channel.


3.Write about real time.

Settlement in 'real time' means payment transaction is not subjected to any waiting period. The transactions are settled as soon as they are processed.


4.What is gross settlement?

'Gross settlement' means the transaction is settled on one to one basis without bunching with any other transaction


5.Describe NEFT

The national electronic fund transfer (NEFT) system is a nation-wide system that facilitates individuals, firms and corporates to electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country.


6. Write a note on Indo-Nepal Remittance Facility

Indo-Nepal Remittance Facility is a cross-border remittance scheme to transfer funds from India to Nepal, enabled under the NEFT Scheme.


7.Describe the term inter mobile payment system.

Inter Mobile Payment system (IMPS) It is a service through which money can be transferred immediately from one account to the other account, within the same bank or accounts across other banks.


8.Write about Electronic Clearing Service (ECS Credit)

Known as “Credit-push” facility or one-to-many facility this method is used mainly for large-value or bulk payments where the receiver‟s account is credited with the payment from the institution making the payment.


9. What is Electronic Clearing Services (ECS Debit)

• Known as many-to-one or “debit-pull” facility this method is used mainly for small value payments from consumers/ individuals to big organizations or companies.


10.What is E-payment ?

E-payment as defined as electronic payment is subset of an E-commerce transaction. It includes electronic payment for buying/selling or services which are offered on the internet.


11.List out the various e-payment methods


12.Write about e-cash concept


13.Write a note on Electronic cash.

It is defined as Electronic cash. It is an internet based system generated by a computer.It allows fund to be transferred items should be purchased by debit/credit card, cheque or money order.


14,write a note on debit&credit card

A debit card is a plastic card that provides the card holder electronic access to his bank account to withdraw cash or pay for goods and services.

credit card is a card issued by a financial company giving the holder an option to borrower funds.


15.Write about micropayment

A micropayment is an E-commerce transaction involving a very small sum of money in exchange for something made available online. such as application download, a service web based content etc


16.What is EFT?

Electronic banking, also known as electronic funds transfer (EFT), is simply the use of electronic means to transfer funds directly from one account to another, rather than by check or cash.


17.Write about plastic money

Plastic money or ploymer money, made out of plastic, is a new and easier way of playing for goods and service.


18.What is chargecard&photo card&global card?

A Charge card is mean f obtaining a very short – term (usually around 1 month) loan for a purchase


If customer photograph is imprinted on a card, then it is knows as photo card.


A Very special GOLD VISA CARD with all its prestige, and additional service especially designed for people looking for peace of mind in their second home.


19.Write about virus

A computer virus is software that affixes itself to another program like a spreadsheet or word document


20.What is Trojan?

Unlike viruses, Trojan do no replicate themselves and do not need a host program to attach to .


21.What is key logger?

If fraudster installs a software called “key logger” on the computer or the device on which the customer in accessing online banking, the software copies to a file, every keystock typed on that PC.

Study Material, Lecturing Notes, Assignment, Reference, Wiki description explanation, brief detail
Business Science : Banking Financial Services Management : High Tech E-Banking : Important Questions and Answers: High Tech E-Banking |

Privacy Policy, Terms and Conditions, DMCA Policy and Compliant

Copyright © 2018-2023 BrainKart.com; All Rights Reserved. Developed by Therithal info, Chennai.