Question

Electronic Money Order (e-MO) is the digital version of the traditional Money Order. What is the maximum amount that can be remitted through a single e-MO?

• A. Remitting money to specific individuals or businesses for personal transactions.
• B. Collecting bills and payments on behalf of organizations (billers) from many customers
• C. Transferring funds between bank accounts for savings and investment purposes.
• D. Paying for goods and services purchased online or in physical stores.

Answer 1

Answer:

B. Collecting bills and payments on behalf of organizations (billers) from many customers

• e-Payment allows organizations (e.g., KSEB, BSNL) to collect payments (bills, fees, taxes) from their numerous customers through the vast Post Office network.