Digital Reforms in India – Payment & Governance – Major Computer Terminologies (Part - 1) [ CBSE NET-JRF Updates ]

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Here we will be covering solutions of the most important questions for upcoming November 2017 NET exam on Computer. We will be continuing the series with environment and computers which is gaining importance based on the current trend. Also note since this time there is no choice for paper 1 questions and all 50 questions are compulsory, you need to have a strong preparation for all topics including Computer Terminologies.

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Digital Reforms in India: Payment & Governance Major Computer Terminologies (In English)

Dr. Manishika Jain explains the various digital reforms and key terminologies in computers

Data Analytics

  • Explore facts
  • Give specific answer to specific questions
  • Has test hypothesis framework
  • Data visualization tools are required
  • Requires languages like Python & R
  • Rooted in business analytics & business intelligence models

Data Mining

  • Generate new information & unlock insights
  1. Descriptive: Information about existing data
  2. Predictive: Forecast based on the data
  • Explore new trends
  • Requires classical and advanced artificial intelligence, pattern distribution and traditional statistics
  • Done without any preconceived hypothesis - information from the data is not used to answer specific questions of organisation.
  • Is close to machine learning & use scientific and mathematical techniques

Prepaid Instruments

  • Spend amount of money stored in the instrument to purchase goods and services including money transfer
  • These can be - smart cards, magnetic stripe cards, internet accounts, internet wallets, mobile accounts, mobile wallets, paper vouchers
  • Maximum value of pre-paid instrument cannot be more than Rs. 50, 000
  • Consumer Wallet Limits: Rs. 20, 000/month for all. Rs. 1 lakh/month with KYC
  • Merchant Wallet Limits: Rs. 50, 000/month with Self Declaration. Rs. 1 lakh/month with KYC
Image of Prepaid Instruments

Image of Prepaid Instruments

Image of Prepaid Instruments

Types:

Closed System Payment Instruments: To facilitate purchase of goods and services from him/her/it – issued to buy goods exclusively from that company - Amazon Wallet, Cleartrip Wallet

Semi-Closed System Payment Instruments: Redeemable at merchants with whom the contract is signed but no cash withdrawal or redemption by the holder – Mobikwik, PayU

Semi-open System Payment Instruments: To purchase goods and services at any card-accepting merchant locations (Point of sale terminals) but no cash withdrawal or redemption by the holder. Transaction more than Rs. 10, 000 requires KYC

Open System Payment Instruments: Purchase of goods and services + cash withdrawal at ATMs, Merchant Local Locations, and automated business correspondents - Visa, Mastercard, RuPay – issued only by Banks like M-Pesa by Vodafone with ICICI

Mobile Prepaid Instruments: Prepaid talk time instruments issued by mobile service providers & purchase “value added service” from the mobile service provider or third-party service providers.

Bitcoin

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Bitcoin: Creation, Circulation, Usage, Problems & Advantages - Currency of Internet

Dr. Manishika Jain explains tCreation, Circulation, Usage, Problems & Advantages of Bitcoins - Cryptocurrency

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Digital Reforms in India: Payment & Governance Major Computer Terminologies (In Hindi)

Dr. Manishika Jain explains the various digital reforms and key terminologies in computers

- Published/Last Modified on: September 13, 2017