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...
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...
Banking Term of the day
Automated Clearing House (ACH):
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▪A computerized facility used by member depository institutions to electronically combine, sort, and distribute inter-bank credits and debits.
▪ACHs process electronic transfers...
Banking Term of the day
Annual Percentage Yield (APY):
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▪️A percentage rate reflecting the total amount of interest paid on a deposit account based on the interest rate and the...
Banking Term of the day
Annual Percentage Rate (APR)
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▪️ The cost of credit on a yearly basis, expressed as a
percentage.
Annual Percentage Yield (APY)
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▪A percentage rate reflecting the total amount...
Banking Term of the day
Anytime Banking
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▪️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...
Banking Term of the day
Repo Rate
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▪️Repo rate is a rate at which banks borrow from RBI for short periods up to 7 or 14 days but predominantly overnight.
▪️RBI...
Banking term of the day
SLR, Statutory Liquidity Ratio
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▪SLR is the amount of money that is invested in certain specified securities predominantly central government and state government securities. Once...
Banking Term of the day
Automated Teller Machine (ATM):
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▪️A machine, activated by a magnetically encoded card or other medium that can process a variety of banking transactions. These include...
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...
Government Scheme
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