G-TEC COMPUTER EDUCATION

Each carries 5 marks

1. Briefly explain the need of Internet Banking.

Ans.: Internet banking, is an electronic payment system that enables customers of a
bank or other financial institution to conduct a range of financial transactions through the
financial institution's website. The need to go Internet banking are listed below:
(a) Manage your cash flow more effectively: Our Internet Banking Solutions make it
easier to control your payables and receivables. For instance, you can arrange to
receive alerts when payments are due or pending your approval.
(b) Simplify your government remittances: Filing tax returns and remitting tax
payments can be very time consuming. With our Internet Banking Solutions, you can
complete the forms online and schedule the payments to be made on the due date and
thereby avoid costly late payment charges. Once you've paid your government
remittances online, you won't want to go back to the manual method.
(c) Take full advantage of discounted payment terms: If you have 30 or 60 days to
pay your bills, you can hold on to your money longer up until the payment due date
know that your payment will be processed on time.
(d) Allow your employees to prepare the transactions: Your business will have total
control over the access privileges granted to employees who use the service. (e)
Access all your accounts at any time, even outside office hours: Check on your
accounts and carry out transactions whenever it suits you, including evenings and
weekends. That way, you can focus on what matters most during the day.
(f) Simplify your payroll and business-to-business (B2B) payables: It's easy to pay
your employees via the Internet. You can also send funds directly to other businesses:
transactions are settled on the spot. This web-based business-to-business payment
feature is unique to National Bank.
(g) Take advantage of all the services you need, no matter how big or small your
business: Whether small, medium or large, all businesses access the same platform
and can use the functions that correspond to their needs.
(h) Reduce administrative overhead: By offering fast and efficient Internet services,
National Bank allows you to reduce the time and resources dedicated to managing
several transactions. There's less paperwork and company personnel can be utilized
more efficiently.
(i) Carry out your foreign currency transactions: Our Internet Banking Solutions for
businesses facilitate account management and foreign currency transactions.
(j) Simplify your account reconciliation and make investments: The Internet
platform makes it easier for you to keep an eye on all your company accounts and
banking activity. You can also submit investment orders.

2. Briefly explain the benefits of UPI.

Ans.: The benefits of UPI are listed below:
(a) Cheapest Way of Money Transfer:
The UPI is the cheapest method of fund transfer. The NEFT charges minimum Rs 2.5
for a transfer, the IMPS charges minimum Rs 2.5. But the UPI charges too less to
believe. It costs less than 50 paise for a transaction through the UPI. Because of this
low cost, the UPI has the potential to promote the non-cash transactions of small
amounts.
(b) It makes you Free from Cash:
There are many ways of transactions which has decreased the cash transactions. The
card payment, net banking and mobile wallets are widely used. However, we rarely use
the card or net banking for small transactions such as payment to your neighbourhood
grocery or payment to a vegetable vendor. In fact, it is not feasible for the consumer as
well as the shopkeeper. But, the UPI makes small transactions feasible. The smooth
and low-cost transaction had made it feasible for small shopkeeper and consumer as
well. Once, you start using the UPI, you need less visits to the ATM.
(c) No Need to Give Details:
Most of us avoid using online transaction and card payment because it asks for the
bank account details. For card transaction, you give card number, validity period and
CVV number. Whereas net banking transaction expose your bank account details. For
this reason, the card and online payment is not as much popular. People still prefer
cash. But the UPI solves this problem. The payment through the UPI does not require
the card details or bank account details. You have to only give the virtual payment
address. the virtual payment address is similar to our email ID. e. g
Ramesh45@icicibank, 9876543210@axis. It is easy to remember this ID.
 (e) Instant Transfer:The UPI is based on IMPS platform. Thus, it works 24 x7. You
can make payment any time. There is no restriction of holiday or odd hours. The bank
strike will also not affect the UPI payments.
(f) One UPI App Many Accounts:
After the UPI mobile app, you do not need multiple apps for multiple bank accounts. A
single UPI would serve for many bank accounts. You can link many bank accounts in a
UPI based app. Because of the multiple accounts at one place, you can pay by using
any of the account. You can also set the default account for the payment.
(g) Choose Any UPI App:
You also get liberty to choose any UPI based app from the google play store. It is not
mandatory to use the App promoted by your bank. Your bank account may be with the
ICICI Bank, but you can use the UPI app of the axis bank. Before using an app, check
carefully the interface and ease. Also, use those apps which give you desired Virtual
payment address
(h) Immediate Registration of Payee:
The registration of new payee for the online fund transfer takes some time. This time
varies from half an hour to 24 hours. However, the UPI doesn't have such waiting
period. You can instantly transfer fund to a new payee
(i) Money Collection Facility:
If you have given a service or product to someone and want the payment, what would
be way to ask for the money? You will send a person or make a call. You would agree
that getting money from a party is always tough. There can be numerous excuses. But,
the UPI would give more power in the hands of biller and It would not be easy for the
client to give excuses. The money collection facility of the UPI sends a message directly
to the party. This message is sent via the bank. It only asks approval for the payment. If
the client approves, the money would be remitted instantly. If the client does not
approve, it means he/she does not want to pay. Now the biller can deal it differently.
(j) Cheaper Alternative of POS Machine:
It is difficult to pay through the card in small cities. Most of the merchants don't have the
card swiping machine. Let me tell you that this machine is called as the POS terminal.
So, small merchant doesn't keep POS terminal because it is costly. They have to pay
for the machine. Along with this they have to pay the service charge for each
transaction. It varies from 1.25% to 2.5% of the transaction value
3. What are the key features of ERP finance module?
Ans.: The key features are:
(a) The tight integration of financial system includes data from material management to
HR, inventory, logistics etc. The financial accounting modules include the sub systems
General Ledger, Accounts Receivable, Account Payable, Fixed Asset A/C, Debit
Note/Credit Note/Journal Entries, Bank Reconciliation etc.
(b) One can see the financial position of the company by looking at the financial reports
and the reports includes the Trial Balance, Trading, P&L account, Balance Sheet,
Debtor Accounts, creditors, Cash/Bank position, Funds Flow, Asset Management,
Treasury, income Tax and Corporate Taxes etc.
(c) General Ledger is the main module as it provides the data related to the current and
future financial needs of the organization of varying types and sizes. The budgeting
provision provided in the software can be used for fulfilling the processing needs and it
helps in increasing the efficiency and accuracy of the data.
(d) The reports of financial module can be used by the management to define the future
prospect of a company. It can be used for generating Exec1.1tiveInformation system,
budgeting, planning future of the business process and profit centre accounting.
(e) The transactions with customers in a retail store can be immediately updated in the
software as the billing is done automatically and this eliminates the requirements for
repeat processes. The data is entered only once and the system provides
workcoordination to improve efficiency.
(f) The security features allow the organization to control users who can view certain
modules of the general ledger account and the consolidation features enables the data
to be transferred to General Ledger account.
(g) The multicurrency system enables easy conversion from one currency type to
another which prevents delays in transaction and the latest currency rate can be
updated at the time of transaction.
(h) The seller can immediately get payments from the customer and one can specify the
means of payment send reminders to the customer and also send reminder for
cancellation of order.
(i) Multiple payment gateways can be used for online payment and one can maintain the
advance accounts of the customers and resellers.
(j) Financial system can provide online bills and customer service. The internet-based
features provide immediate response to the queries and gets bills, receipts and helps to
make payments through credit cards.
(k) The system can send warnings at the time when the funds are falling below certain
level and the request for refunds can be made for excess balance.
4. Briefly explain the scope of e-business in India.
Ans.: The scope of e-business is explained below:
(a) Critical mass of Internet users
(b) Rising middle class with disposable income.
(c) Payment gateways & logistics.
(d) User Experience.
(e) It's easy to get up and running.

5. Write a short note on ERP related technologies.

Ans.: The ERP Related Technologies are explained below:
(a) Business Process Reengineering (BPR: Business Process Reengineering (BPR)
aims at cutting down enterprise costs and process redundancies, but unlike other
process management techniques, it does so on a much broader scale. Business
Process Reengineering (BPR) also known as process innovation and core process
redesign - attempts to restructure or obliterate unproductive management layers, wipe
out redundancies, and remodel processes differently.
(b) Data Warehousing
Data warehousing is the electronic storage of a large amount of information by a
business. Data warehousing is a vital component of business intelligence that employs
analytical techniques on business data.
The concept of data warehousing was introduced in 1988 by IBM researchers Barry
Devlin and Paul Murphy. The need to warehouse data evolved as computer systems
became more complex and handled increasing amounts of data.
(c) Data Mining: Data mining is a process used by companies to turn raw data into
useful information. By using software to look for patterns in large batches of data,
businesses can learn more about their customers and develop more effective marketing
strategies as well as increase sales and decrease costs. Data mining depends on
effective data collection and warehousing as well as computer processing.
(d) Online Analytical Process (OLAP): OLAP is based on the multidimensional data
model. It allows managers, and analysts to get an insight of the information through fast,
consistent, and interactive access to information.
6. Briefly explain the benefits of e-business.
Ans.: The benefits of e-business are explained below:
(a) Lower Establishment Cost: Because everything is based out of the internet, the
setup cost for any business is minimal. Before e-commerce, you had to invest in
infrastructure that would be economically and geographically viable but now everything
is set up with only a few clicks. Retail stores also have to maintain a minimum number
of staff whereas e-commerce websites require no such thing.
(b) No Open or Close Time: E-commerce retailers benefit from having a 24 x 7 run
time, without any breaks. Any physical store would have certain timings but that is not
the case in e-commerce. Consumers can log in any time they want to place their orders
and some websites even give late night discounts to encourage traffic during these odd
hours.
(c) Personalized Shopping Experience: For consumers, the biggest thing as an e-
commerce shopper is the experience that they get while they are browsing for products.
In physical establishments like malls and restaurants, customers have to browse
through a lot of items to find something ideal to their taste. However, a consumer on a
website gets exactly what they want in minutes because everything is well categorized
according to the choices of the consumer. It is even more convenient if you are a
regular user because a lot of websites and apps remember your previous choices and
provide you similar products when you log in the next time.
(d) Return Policy: Most consumers are afraid of online shopping because they do not
trust the quality or the assurance of the product. Door to door delivery does take more
time compared to physically buying products but almost all products that are bought
through e-commerce websites and apps guarantee return and refund policies,
depending upon the type of product you choose.

7. Write a short note on - Human Resources Management Module.

Ans.: A Human Resource Management System or HRIS (Human Resource Information
System) is a form of HR software that combines a number of systems and processes to
ensure the easy management of human resources, business processes and data.
Human Resources software is used by businesses to combine a number of necessary
HR functions, such as storing employee data, managing payrolls, recruitment
processes, benefits administration, and keeping track of attendance records. It ensures
everyday Human Resources processes are manageable and easy to access. It merges
human resources as a discipline and, in particular, its basic HR activities and processes
with the information technology field, whereas the programming of data processing
systems evolved into standardized routines and packages of Enterprise Resource
Planning (ERP) software. On the whole, these ERP systems have their origin from
software that integrates information from different applications into one universal
database. The linkage of its financial and human resource modules through one
database is the most important distinction to the individually and proprietarily developed
predecessors, which makes this software application both rigid and flexible.

8. What are the e-Payment system available with Internet banking? Explain
briefly?
Ans.: The payment system available with Internet banking are explained below:
(a)NEFT-National Electronic Funds Transfer:
NEFT is an acronym of National Electronic Fund Transfer. NEFT is like defer payment
system. Under NEFT funds are transferred in batches from one bank to other.
Whenever individual transfer money from his account to his friends/relative account
fund transfer does not take place immediately it will be done in settlement cycle usually
60 minutes.
(b) RTGS-Real Time Gross Settlement:
RTGS is an acronym of Real Time Gross settlement. The real-time gross settlement is
an instantaneous method of fund transfer. Using this method funds can be transferred
on real-time basis between the banks. RTGS is the faster way for fund transfer. RTGS
is apreferred method for fund transfer by many corporates. The RTGS system is
preliminary used for high-value transactions. The minimum amount remitted using
RTGS is 2 lakhs. There is no upper ceiling for RTGS transactions.
(c) ECS-Electronic Clearing Services:
ECS is an acronym of Electronic Clearing Services. ECS is a mode of electronic fund
transfer from one bank account to another bank account using services of a
clearinghouse. This service is used for the bulk money transfer from one account to
many accounts or vice-versa. This can be used for payment as well as collection
purpose. In other words, ECS Credit and ECS Debit. Example, where ECS can be
used, are dividend distribution, salary, pension, EMI payment or utility bill collection,
house tax, water tax etc.
(d) IMPS-Immediate Payment Services:IMPS is an acronym of Immediate Payment
Services. IMPS is the mode of fund transfer by mobile phone services. Under IMPS,
customer uses mobile phones as a medium of fund transfer. All applications used for
mobile fund transfer use IMPS. This facility is given by NPCI (National Payments
Corporation of India)

9. What is the popular e-Wallets in India? Explain briefly.

Ans.: The popular e-Wallets in India are explained below:
• Airtel Money: With the Airtel Money app, users can easily recharge prepaid
accounts or pay post-paid bills. You can also shop online if your digital wallet has cash
loaded in it. It's also extremely safe as every transaction or payment you make requires
a secret 4-digit mPin.
• Citi Master Pass: Citi Master Pass, a free digital wallet, helps make checking out
while online shopping a speedier process. Once you've stored all your payment and
shipping details in your Citi Wallet, simply click on the Master Pass button and it will
take care of the rest
• Citrus Pay: Citrus Pay, one of the top e-wallets in India, it offers a Citrus wallet
for customers as well as payment solutions to businesses. With a strong base of 800
million customers, it has definitely earned its spot as one of the best mobile wallets in
India
• Ezetap: Ezetap, a Bangalore based digital payment solution founded in 2011,
offers business owners solutions to accept card payments via electronic devices. It also
sends customers e-receipts through an SMS or email
• Freecharge: Freecharge, one of the most famous names right now when it
comes to digital payment in India, has been known to target the youth in all their
promotions. With equivalent amount of coupons given for every recharge you make, it's
a great option to save while paying your bills online
• HDFC PayZapp: HDFC PayZapp, making digital payment in India simplified with
one click payments, is one of the top online wallets in India. Users can easily compare
flight and hotel tickets and even buy music or pay bills with the app. Simple connect
your debit/credit card once and forget to worry about making payments
• ICICI Pockets: While you might find a Pocket card redundant, considering you're
opting for an e-wallet app to avoid using a card, they do have a pretty neat wallet app.
Its VISA powered and can be used on any Indian website, or to transfer money to email
ids, WhatsApp contacts, and also just tap and pay your friends easily
• JioMoney: JioMoney, launched recently in 2016 by Jio, is a digital payment app.
With JioMoney, one can receive great discounts and offers. Users can also bookmark
their frequently visited retailers so shopping can be made quicker than usual
• Juspay: Juspay Safe is a payment browser with over 650+ transactions in a day.
They offer a browser with which users can make payments quickly via cards with 2
clicks
• LIME: LIME, launched by AXIS in 2015, was the first mobile app in India to
integrate wallets, shopping, payments, and banking. Apart from the usual features like
makingpayments, they also let you analyse what you spend. With a cool feature that
rounds up all your change and invest in a deposit and a shared wallet tool, they've
definitely earned their spot in the top list of mobile wallets in India
• Mobikwik: Mobikwik is a Gurgaon based e-wallet payment system in India that
helps its users store their money. Founded in 2009 by Bipin Singh and Upasana Taku,
this digital wallet enables users to recharge, pay bills, and make third-party purchases
with one tap
• MomoeXpress: MomoeXpress, a Bangalore based digital wallet in India, claims
to have the fastest checkout system. Though they're only available in Bangalore, they
have a wide range of solutions they offer to residents on the city. From paying for your
rickshaw ride to salons & spas, there are over 3000 outlets available at your disposal
• Money on Mobile: Money on Mobile, authorized by the Reserve Bank of India,
enables users to buy goods, products, and services from registered merchants. It's a
multilingual app that reaches remote areas of the country to millions of users making
online payments available to a wide population
• Mswipe: Mswipe, the first mobile point-of-sales solution in India was founded in
2012. They don't exactly offer an app, but they do provide a machine that can be
attached to your mobile device to accept card payments. This may not be a digital wallet
app but it does support going cashless
• Ola Money: Ola Money, launched in 2015, is a digital wallet in India offered by
Ola. While it's majorly being used to make payments for Ola cab rides, making cashless
traveling a dream come true, it can also be used to buy groceries or flight tickets and
much more
• Oxigen: Oxigen, a FinTech company founded in July 2004, is one of the major
providers of digital payment in India. Along with making online purchases and paying
bills, you can also send gift cards to your dear ones
• PayMate: PayMate, founded in 2006 by Ajay Adiseshann, launched PayPOS in
2012, an app for small business owners to receive payments conveniently via debit
cards and credit cards and also process electronic transactions
• Paytm: Paytm, launched in 2010, is currently the largest mobile wallet app in
India. With payments via Paytm being accepted almost everywhere, it's hard not to
simply switch to it completely. From paying mobile bills to buying movie tickets, there's
almost nothing you can't do with Paytm.