Question

17. What is e-banking?​

Answer 1

Answer:

Definition of E-Banking

E-banking includes the systems that enable financial institution customers, individuals or businesses, to access accounts, transact business, or obtain information on financial products and services through a public or private network, including the Internet.

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Answer 2

Answer:

E-banking refers to a method of banking in which a customer conducts transactions through the internet. It has enabled people to conveniently and quickly conduct their financial transactions online.These days, every traditional service that a local bank directly provides is available online.Online banking has facilitated the networking of banks and other financial institutions,resulting in saving time,effort,and money. Transferring money between accounts using IMPS,RTGS,and NEFT, viewing account details, opening fixed deposit accounts as well as making online payments for products and services can be done at a click of the mouse.Withdrawing money at any time through ATMs is also possible because of the use of IT.