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Direction: Read the following text and answer the questions that follow:
Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.
’...her to apply for virtual banking services’.
Q. Which of the following is not true about Virtual banking?
  • a)
    Banking using electronic media
  • b)
    No face to face interaction of customer with bank employees
  • c)
    A customer can transfer funds using Bank Draft
  • d)
    Payment of bills using personal digital assistant
Correct answer is option 'C'. Can you explain this answer?
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Direction: Read the following text and answer the questions that foll...
A customer can transfer funds using Bank Draft is not true about Virtual banking. A virtual bank works when a customer, first of all, opens an account with the virtual bank.
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Direction: Read the following text and answer the questions that foll...


Virtual Banking:




Banking using electronic media:
Virtual banking refers to the provision of banking services through electronic channels, such as the internet, mobile apps, and other digital platforms. Customers can perform various banking activities online without the need for physical visits to the bank branch.

No face to face interaction of customer with bank employee:
One of the key features of virtual banking is that it eliminates the need for face-to-face interactions between customers and bank employees. Transactions can be carried out remotely, providing convenience and flexibility to customers.

A customer can transfer funds using Bank Draft:
This statement is not true about virtual banking. In virtual banking, customers can transfer funds electronically using methods such as RTGS, NEFT, online banking, mobile banking, etc. Bank Drafts, which are physical instruments, are not typically used in virtual banking transactions.

Payment of bills using personal digital assistant:
Another benefit of virtual banking is the ability for customers to conveniently pay bills using personal digital assistants or other electronic devices. This feature enhances the efficiency and ease of managing financial transactions for customers.
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Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.Q. Which of the following is not the method of digital payment?

Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.Q. The reason why Shipra chose RTGS, not NEFT is

Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.Q. What is the full form of RTGS?

Read the following hypothetical text and answer the question that follow:The performance of the Indian economy during the period of first seven five-year plans (1950-1990) was satisfactory if not very impressive. On the eve of independence, India was an industrially backward country, but during this period of first seven plans our industries became far more diversified, with the stress being laid on the public investments in the industrial sector. The policy of import substitution led to protection of the domestic industries against the foreign producersbut we failed to promote a strong export surplus. Although public sector expanded to a large extent but it could not bring desired level of improvement in the secondary sector. Excessive government regulations prevented the natural trajectory of growth of entrepreneurship as there was no competition, no innovation and no modernization on the front of the industrial sector. Many Public Sector Undertakings (PSUs) incurred huge losses due to operational inefficiencies, red-tapism, poor technology and other similar reasons. These PSUs continued to function because it was difficult to close a government undertaking even it is a drain on country’s limited resources. On the Agricultural front, due to the measures taken under the Green Revolution, India more or less became self-sufficient in the production of food grains. So, the needs for reform of economic policy was widely felt in the context of changing global economic scenario to achieve desired growth in the country.Q. Inward looking trade strategy aimed at _________ .

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Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.’...her to apply for virtual banking services’.Q. Which of the following is not true about Virtual banking?a)Banking using electronic mediab)No face to face interaction of customer with bank employeesc)A customer can transfer funds using Bank Draftd)Payment of bills using personal digital assistantCorrect answer is option 'C'. Can you explain this answer?
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Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.’...her to apply for virtual banking services’.Q. Which of the following is not true about Virtual banking?a)Banking using electronic mediab)No face to face interaction of customer with bank employeesc)A customer can transfer funds using Bank Draftd)Payment of bills using personal digital assistantCorrect answer is option 'C'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.’...her to apply for virtual banking services’.Q. Which of the following is not true about Virtual banking?a)Banking using electronic mediab)No face to face interaction of customer with bank employeesc)A customer can transfer funds using Bank Draftd)Payment of bills using personal digital assistantCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.’...her to apply for virtual banking services’.Q. Which of the following is not true about Virtual banking?a)Banking using electronic mediab)No face to face interaction of customer with bank employeesc)A customer can transfer funds using Bank Draftd)Payment of bills using personal digital assistantCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.’...her to apply for virtual banking services’.Q. Which of the following is not true about Virtual banking?a)Banking using electronic mediab)No face to face interaction of customer with bank employeesc)A customer can transfer funds using Bank Draftd)Payment of bills using personal digital assistantCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
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Which of the following is not true about Virtual banking?a)Banking using electronic mediab)No face to face interaction of customer with bank employeesc)A customer can transfer funds using Bank Draftd)Payment of bills using personal digital assistantCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.’...her to apply for virtual banking services’.Q. Which of the following is not true about Virtual banking?a)Banking using electronic mediab)No face to face interaction of customer with bank employeesc)A customer can transfer funds using Bank Draftd)Payment of bills using personal digital assistantCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.’...her to apply for virtual banking services’.Q. Which of the following is not true about Virtual banking?a)Banking using electronic mediab)No face to face interaction of customer with bank employeesc)A customer can transfer funds using Bank Draftd)Payment of bills using personal digital assistantCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.’...her to apply for virtual banking services’.Q. Which of the following is not true about Virtual banking?a)Banking using electronic mediab)No face to face interaction of customer with bank employeesc)A customer can transfer funds using Bank Draftd)Payment of bills using personal digital assistantCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Direction: Read the following text and answer the questions that follow:Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.’...her to apply for virtual banking services’.Q. Which of the following is not true about Virtual banking?a)Banking using electronic mediab)No face to face interaction of customer with bank employeesc)A customer can transfer funds using Bank Draftd)Payment of bills using personal digital assistantCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice Commerce tests.
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