Which one of the following statement is FALSE regarding transactions of Internet Banking?

The false statement is Withdrawal of cash anywhere in India

Key Points Internet Banking:

• Internet banking, often referred to as online banking, e-banking, or virtual banking, is a type of electronic payment system that allows customers of banks and other financial institutions to carry out a variety of financial transactions via the financial institution's website.
• Anyone who has registered for online banking at the bank, has an active bank account, or has access to another financial institution can use internet banking.
• After signing up for online banking services, a customer no longer needs to go to the bank each time they wish to use a banking service.
• It is not only a safe way to conduct banking, but it is also convenient. Unique User/Customer IDs and passwords are used to protect net banking portals.

Important Points Services Available through the Internet Banking:

• Account Balance Check
• IMPS Fund Transfer
• View Bank Statements
• NEFT & RTGS Fund Transfer
• Utility Bill Payment
• Start a Deposit
• Open/Close a Fixed Deposit
• Make Merchant Payments
• Issuance of Cheque Book
• Start Investments
• Buy General Insurance
• Recharge Prepaid Mobile/DTH
• Check Mortgages, Loans
• Setup/Cancel Automatic Payments
• Manage/Change Account Details
• Book Online Tickets
• Buy/Sell on E-Commerce Platforms

Hence, Withdrawal of cash is not available using internet banking. This facility is only available using ATM or visiting bank branch