BANKING AFFAIRS

Detailed explanation-1: -The term “Smart Money” broadly refers to credit cards. Credit cards allow us to borrow money from the credit provider to pay for something without using your cash or savings in a bank account. There’s a limit to borrow money (called credit limit) and one has to pay it back.

Detailed explanation-2: -Notes: Credit cards are sometimes considered smart money as they enable transactions without the need for physical cash and are also a convenient method. It is plastic money that is used to pay for products and services in over 20 million locations across the world.

Detailed explanation-3: -Solution : Credit cards are sometimes considered as smart money since they enable transactions without the need for physical cash and that, too, in a convenient manner. It is plastic money that is used to pay for products and services at over 20 million locations around the world.

Detailed explanation-4: -Smart money is the capital that is being controlled by institutional investors, market mavens, central banks, funds, and other financial professionals. Smart money was originally a gambling term that referred to the wagers made by gamblers with a track record of success.

Detailed explanation-5: -(l) The term “credit card” means any card, plate, coupon book or other credit device existing for the purpose of obtaining money, property, labor, or services on credit.