SSC CGL Preparation – Day 13

Computer Basics: e-Banking

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🔷 What is e-Banking?

Electronic Banking (e-Banking), also known as Internet Banking or Online Banking, refers to the use of electronic means to access and manage bank accounts and services over the internet or mobile devices.

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🔹 Key Features of e-Banking:

Feature	Description
24×7 Access	Access banking services anytime, anywhere.
Fund Transfer	Transfer money between accounts instantly (NEFT, RTGS, IMPS, UPI).
Bill Payments	Pay electricity, phone, DTH, and other bills online.
Account Monitoring	Check balance, download statements, and view transaction history.
Mobile Banking	Manage your account via mobile apps.
ATM Services	Withdraw cash, mini statements, PIN change, etc.
Online Shopping	Make payments using NetBanking or linked cards.

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🔹 Types of e-Banking Services:

1. Internet Banking:
   • Access through a web browser.
   • Login using username and password.
   • Services include fund transfers, bill payments, etc.
2. Mobile Banking:
   • App-based banking via smartphones.
   • Use biometric login, PIN, or OTP.
3. ATM (Automated Teller Machine):
   • Withdraw/deposit cash.
   • Mini statements.
   • PIN changes.
4. POS (Point of Sale):
   • Payment via debit/credit card at shops.
5. SMS Banking:
   • Balance inquiry, mini statement via SMS.
6. Telebanking:
   • Banking using phone (IVR system).

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🔹 Common Terms in e-Banking:

Term	Meaning
NEFT	National Electronic Funds Transfer – Settled in batches.
RTGS	Real-Time Gross Settlement – High-value transfers (₹2L+), real-time.
IMPS	Immediate Payment Service – Real-time 24×7 fund transfer.
UPI	Unified Payments Interface – Instant mobile-to-mobile payments.
IFSC Code	Unique code for bank branches used in online transfers.
MMID	7-digit code used in mobile banking IMPS transactions.

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🔹 Benefits of e-Banking:

• Convenience – No need to visit the bank.
• Speed – Instant transactions.
• 24/7 Access – Anytime banking.
• Record-Keeping – Electronic statements and logs.
• Cost-Effective – Reduced paperwork and operational cost.

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🔹 Risks in e-Banking:

• Phishing Attacks
• Malware/Virus Infections
• Fake Websites
• SIM Swap Fraud
• Unauthorized Access

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🔹 Safety Tips:

• Never share your password, OTP, or PIN.
• Always use official apps/websites.
• Use strong passwords and change them regularly.
• Enable 2-factor authentication.
• Avoid using public Wi-Fi for transactions.

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🔹 Regulatory Authorities:

• RBI (Reserve Bank of India): Regulates e-banking norms.
• NPCI (National Payments Corporation of India): Manages UPI, IMPS, RuPay.

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🔹 Examples of e-Banking Platforms in India:

• SBI YONO
• HDFC NetBanking
• ICICI iMobile
• Paytm Payments Bank
• Google Pay (UPI)
• PhonePe, BHIM UPI

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🔹 Important Acronyms for SSC CGL:

Acronym	Full Form
UPI	Unified Payments Interface
NEFT	National Electronic Funds Transfer
RTGS	Real-Time Gross Settlement
IMPS	Immediate Payment Service
ATM	Automated Teller Machine
OTP	One-Time Password
IFSC	Indian Financial System Code
MMID	Mobile Money Identifier