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Question

__________ uses electronic means to transfer funds directly from one account to another rather than by cheque or cash.

This question was previously asked in
UGC NET 2015 Paper 1 Question Paper (27-Dec-2015)
The correct answer is

E-Banking

Electronic banking (E-Banking) covers electronic funds transfer, where money moves directly between accounts over electronic networks instead of by paper cheque or cash.

M-Banking is only the mobile channel of such services, while O-Banking and C-Banking are not standard terms for direct electronic funds transfer.

Hence, E-Banking.

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