Banks and other institutions have issued debit and credit cards, the purpose of both are

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Q 1528801701.     Banks and other institutions have issued debit and credit cards, the purpose of both are


A

the same, to make paperless payments

B

different, since in credit card, the account is credited with the amount while in debit card the account is debited

C

the same, there is risk weight-age of 125% in both the cards.

D

different, since in debit cards interest for delayed period is charged while in credit cards no such interest is charged by banks

E

None of the above

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Solution
(Provided By a Student and Checked/Corrected by EXXAMM.com Team)

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