Question

The banking operations done online without reaching out to the bank branches are called ?

• A. Retail banking
• B. Central banking
• C. Wholesale banking
• D. Virtual banking

Answer 1

Answer:

D. Virtual banking

Virtual banking:

• Virtual banking refers to banking operations done online without reaching out to the bank branches.
• This is the latest and foremost form of banking services.
• Virtual banking enables customers to secure loans, pay utility bills, make deposits and track accounts from remote locations.
• Virtual banking also known as cyber banking, e banking, home banking or online banking includes provision of and access to various banking services virtually rather than at a physical bank.