Sir these are the question which i cam e across in the POs entrance exam and these are the ones which i was not able to solve, so please help me in solving them Which of the following is known as Plastic money?

I) Demand draft
II) credit card
III) Debit card

a) Only I
b) Only II
c) Only III
d) Both II &III
e) All I, II, III

Both Credit Card and Debit card are known as Plastic Money.

The evolution of plastic money dates back to the 1920s, when the first payment card was introduced in the USA.

Diners Club and American Express launched the world's first plastic card in the USA, in 1950. The first credit card was introduced by Diners Club in 1951. However, the plastic cards began to be widely used only after 1970, when the specific standards for magnetic strip were set.

Citibank and HSBC were the pioneers in the Indian credit card market in the 1980s. Over the next two decades, the number of players increased to more than ten in 2000. The credit card market registered a healthy annual growth rate of over 25% during 1987-2001...

While companies were putting in place various measures to address security issues, the debit card market was having a smooth run in India.

After being introduced in the mid 1990s, debit cards acquired popularity and user acceptance at a rapid pace.