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Banking Term Of The Day

Banking Term of the day

‘On tap' authorisation of payment systems RBI has issued guidelines on ‘on tap' authorisation of payment systems on 15th October 2019. The aim is to encourage innovation and competition. Accordingly, it has been...

Banking Term of the day

Asset/Liability Committee (ALCO) A risk management committee in a bank that evaluates the risk associated with the bank's assets and liabilities. It manages interest rate risk while ensuring adequate returns and liquidity. Functions...

Banking Term of the day

Automated Clearing House (ACH): ============ ▪A computerized facility used by member depository institutions to electronically combine, sort, and distribute inter-bank credits and debits. ▪ACHs process electronic transfers of government securities and provided customer services,...

Banking Term of the day

Annual Percentage Yield (APY): =============== ▪️A percentage rate reflecting the total amount of interest paid on a deposit account based on the interest rate and the frequency of compounding for a 365-day year. Annuity ================= ▪A...

Banking Term of the day

Annual Percentage Rate (APR) ============= ▪️ The cost of credit on a yearly basis, expressed as a percentage. Annual Percentage Yield (APY) ======== ▪A percentage rate reflecting the total amount of interest paid on a deposit account...

Banking Term of the day

Anytime Banking =================== ▪️With introduction of ATMs, Tele-Banking and internet banking, customers can conduct their business anytime of the day and night. ▪The 'Banking Hours' is not a constraint for transacting banking business.

Banking Term of the day

Repo Rate ================ ▪️Repo rate is a rate at which banks borrow from RBI for short periods up to 7 or 14 days but predominantly overnight. ▪️RBI manages this repo rate which is the...

Banking term of the day

SLR, Statutory Liquidity Ratio ============== ▪SLR is the amount of money that is invested in certain specified securities predominantly central government and state government securities. Once again this percentage is of the percentage...

Banking Term of the day

Automated Teller Machine (ATM): ============ ▪️A machine, activated by a magnetically encoded card or other medium that can process a variety of banking transactions. These include accepting deposits and loan payments, providing withdrawals,...

Banking Term of the day

Anytime Banking =================== ▪️With introduction of ATMs, Tele-Banking and internet banking, customers can conduct their business anytime of the day and night. ▪The 'Banking Hours' is not a constraint for transacting banking business.
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What is Nipah virus? Symptoms | Transmission | Prevention | Cure...

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Nipah virus (NiV) is a member of the family Paramyxoviridae, genus Henipavirus. NiV was initially isolated and identified in 1999 during an outbreak of encephalitis...

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