Category: Banking Operation

Benefits of Online Banking

The benefits of this facility for the customers are unending. Internet banking in India is a welcome change for the customers and a money-spinning delivery network for the financial institutions. Mentioned below are some of the advantages of Internet banking in India: ● The customer can access his account anytime and from any part of […]

Priority Sector Lending

Priority Sector refers to those economically weaker sectors which may not get timely and adequate credit in the absence of this special dispensation. Priority Sector Lending is an important role given by the Reserve Bank of India (RBI) to the banks for providing a specified portion of the bank lending to few specific sectors like […]

Money Laundering

Money laundering involves disguising financial assets so that they can be used without detection of the illegal activity that produced them. Through money laundering, the launderer transforms the monetary proceeds derived from criminal activity into funds with an apparently legal source. Money laundering is commonly defined as happening in three steps: the first step involves […]

Non Performing Assets

A Non-performing asset (NPA) is defined as a credit facility in respect of which the interest and/or installment of principal has remained ‘past due’ for a specified period of time. In simple terms, an asset is tagged as non performing when it ceases to generate income for the lender. A loan or advance is called […]

Liabilities of Bank

Liabilities are a vital aspect of a company’s operations because they are used to finance operations and pay for large expansions. They can also make transactions between businesses more efficiently. “A liability is a present obligation of the enterprise arising from past events, the settlement of which is expected to result in an outflow from […]

Assets of Bank

Asset means a financial or an economic resource. Asset includes all those things (either tangible or intangible ones) which are capable of being owned or leased out (rented) to generate a value (price) or returns in present and in the future. Assets of banks are – 1. Cash: Cash, defined broadly, includes cash in hand […]

Know Your Customer (KYC)

Know Your Customer (KYC) is a process by which banks obtain information about the identity and address of the customers. This process helps to ensure that banks’ services are not misused. The KYC procedure is to be completed by the banks while opening accounts and also periodically update the same. The objective of KYC guidelines […]

Core Banking Solution

; Core Banking Solution (CBS) is networking of branches, which enables customers to operate their accounts, and avail banking services from any branch of the Bank on CBS network, regardless of where he maintains his account. Core Banking Solution connects a customer to the bank instead of being connected to a branch of a bank. […]

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