______ is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website.

Question

Question

This question was previously asked in

SSC GD Constable (2022) Official Paper (Held On : 13 Feb 2023 Shift 3)

Answer 1

The correct answer is Internet banking.

Key Points

Internet banking is also known as online banking or e-banking.
It allows customers to perform various financial transactions such as checking account balances, transferring funds, paying bills, and applying for loans through the bank's website.
Internet banking is a convenient and secure way for customers to manage their finances without having to visit a bank branch.
Some of the benefits of internet banking include 24/7 access to account information, faster transactions, and lower fees compared to traditional banking methods.

Additional Information

Interstate banking refers to the ability of banks to operate branches in multiple states. This allows banks to expand their reach and offer their services to customers in different regions.
A single-entry system is an accounting method where each financial transaction is recorded only once, either as a debit or a credit. This method is simpler than double-entry accounting and is often used by small businesses.
Inter-corporate banking refers to financial transactions between two or more corporations. This can include loans, investments, and other financial services.