Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsBANKING AND MONETARY POLICY3 Marks
Question
What is internet banking and how is it useful?
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Answer
nternet Banking helps customers to use all the facilities provided by the bank through internet. The customers can also get all the details of their account and make payments through internet. Customers can purchase goods, buy movie tickets as well as purchase and sell shares through $DEMAT$ account over the internet. Nowadays, internet banking is very useful as the customers do not have to go to the banks and can do all the transactions over internet being in any part of the world thus, making it more convenient for people. Now, Internet banking can also be done using mobile applications which has further increased the mobility of banking services. Internet banking has reduced the cost of thg $7$ banks $($physical space, employees$),$ thus, indirectly benefitting the cost to tffe customers.
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