International Monetary Fund (IMF)
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InterInternational Monetary Fund (IMF): The International Monetary Fund (IMF), is an international monetary institution established by 44 nations under the Bretton Woods Agreement of July 1944. The primary aim was …
Banking
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What is Mutual Fund?
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Mutual Funds: A mutual fund is an institutional device through A.vhich the investors pool their funds to invest in a diversified portfolio of securities. The fund is termed as mutual’ …
What is Cash Balances?
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Cash Balances: These cash balances are called the ‘first line of defense’ of the bank as they defend the solvency, reputation, and goodwill of the bank. Cash balances are the …
What is letter of credit:?
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Letters of Credit: Issuing or opening letters of credit is one of the important services provided by the banks. An Letter of credit popularly known as L/c is an undertaking …
What is Cash Credit
Cash Credit: Cash credit is an important and frequently used mode of borrowings from the banks. Cash credit is an arrangement by which a customer can borrow money from the …
What is Endorsement?
What is an Endorsement? The term endorsement or indorsement in its literal sense means anything written on the back of an instrument. The endorsement is said to have been derived …
Types of endorsement
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Types of Endorsements: There are different types of endorsements which may be as follows: I. The endorsement in blank or general endorsement: A black or general endorsement is one of …
What is Schedule Bank?
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Schedule Bank: Scheduled bank refers to those banking institutions whose names are included in the second schedule of the Central Bank of India Act 1934. Under Section 42(6) of the …
Non-Schedule Bank
Non-Schedule Bank: Non-Scheduled banks are those Banks whose names do appear in the list of scheduled Banks maintained by the Reserve Bank. However, Non-schedule banks come within the sweep of …