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?a)Debit cardb)Credit cardc)ATMd)Cash creditCorrect answer is option 'D'. Can you explain this answer?

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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?

a)
Debit card
b)
Credit card
c)
ATM
d)
Cash credit

Correct answer is option 'D'. Can you explain this answer?

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Direction: Read the following text and answer the questions that foll...

Cash credit is not the method of digital payment. Cash credit is a type of short-term working capital loan extended by financial institutions, which allows the borrowers to utilise money without holding a credit balance in an account.

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Understanding Digital Payment Methods
Digital payment methods have revolutionized the way transactions are conducted, allowing for faster and more efficient monetary exchanges. Let's break down the options presented in the question to understand which is not a method of digital payment.
Methods of Digital Payment

Debit Card: A debit card allows users to access funds directly from their bank account to make purchases or withdraw cash. It is a widely accepted digital payment method.
Credit Card: A credit card enables users to borrow funds from a credit limit to make purchases. It is another common digital payment option that provides flexibility in payments.
ATM: While ATMs facilitate cash withdrawals and balance inquiries, they do not constitute a digital payment method in itself. However, transactions made at ATMs can involve debit or credit cards.
Cash Credit: Cash credit refers to a short-term loan facility provided by banks to businesses. This method involves borrowing cash, which is not a digital payment method.

Conclusion
Among the options listed, option 'D' (Cash Credit) is not a method of digital payment. Digital payments are characterized by electronic transactions that do not involve physical cash, such as debit and credit card transactions. Cash credit, on the other hand, is related to borrowing and does not facilitate direct payments in the same way that digital methods do.
Therefore, the correct answer to the question is option 'D', as it does not align with the definition of digital payment methods.

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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. The reason why Shipra chose RTGS, not NEFT is

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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?

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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?a)Debit cardb)Credit cardc)ATMd)Cash creditCorrect answer is option 'D'. 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.Q. Which of the following is not the method of digital payment?a)Debit cardb)Credit cardc)ATMd)Cash creditCorrect answer is option 'D'. 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.Q. Which of the following is not the method of digital payment?a)Debit cardb)Credit cardc)ATMd)Cash creditCorrect answer is option 'D'. 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.Q. Which of the following is not the method of digital payment?a)Debit cardb)Credit cardc)ATMd)Cash creditCorrect answer is option 'D'. Can you explain this answer?.

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