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ELECTRONIC COMMERCE AND BANKING
What is Electronic Commerce (e-commerce) in the context of banking?
E-commerce refers to the conduct of business transactions electronically over networks, including buying, selling, and transferring funds using digital platforms and internet-based systems.
What is the primary difference between e-commerce and traditional commerce in banking?
E-commerce uses electronic networks instead of physical channels.
What is the primary regulatory body overseeing digital banking and e-commerce transactions in India?
The Reserve Bank of India (RBI) is the primary regulatory body, issuing guidelines on internet banking, payment systems, and digital financial transactions under the Payment and Settlement Systems Act, 2007.
What is the role of a digital certificate in authenticating e-commerce transactions?
It verifies the identity of parties involved in the transaction.
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