(1) It is a system, in which no physical transfer takes place, hence risk is very low. |
(2) In this system banks are not required to transfer any money actually to the account of the customer. Only book adjustment is done. Hence actual fund is not needed. |
(3) This facility is available to anybody at any place. Even having a bank account is not at all necessary. |
A) Only (1) is correct
B) Only (2) is correct
C) Only (3) is correct
D) Both (1) & (2) are correct
E) All (1), (2) & (3) are correct
Correct Answer: D
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