Business Studies

Match the items of List-I with the items of List-II and select the correct answer:
List-IList-II
(i) Debit card(a) Several storage
(ii) Credit card(b) Online recovery of amount
(iii) Electronic purse(c) Image processing use
(iv) Cheque function(d) Revolving credit


ANSWER

$$(i) - (b), (ii) - (d), (iii) - (a), (iv) - (c)$$


SOLUTION
A debit card is used for online banking. Information about the card can be used by a fraudster if the user shares confidential information related to the card. In case of loss of money, a request of recovery of the money is made to the respective bank in which the user holds the account.
A Credit Card with Revolving Credit facility can be used multiple times till the prescribed limit as long as the account is active and the credit restoration (paying back the money borrowed).
Electronic Purse is the store of value.
Image of a 'crossed' cheque is taken during the 'clearing' process followed by the bank.
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Single Correct Medium Published on 18th 08, 2020
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