Banking Term of the day
Bank Ombudsman:
=============
▪Bank Ombudsman is the authority to look into complaints against
Banks in the main area collection of cheque / bills, issue of demand drafts,...
Banking Term of the day
Bancassurance:
=================
▪Bancassurance refers to the distribution of insurance products and the insurance policies of insurance companies which may be life policies or non-life policies like...
Banking Term of the day
Banker's Lien:
▪️Bankers lien is a special right of lien exercised by the bankers, who can retain goods bailed to them as a security for...
Banking term of the day
Non Banking Financial Companies
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▪️NBFCs or Non Banking Financial Companies are those companies which provide banking services without meeting the legal definition of a bank.
▪A...
Banking term of the day
Adverse Action
===================
▪Under the Equal Credit Opportunity Act, a creditor's refusal to grant credit on the terms requested, termination of an existing account, or an...
Banking term of the day
Arbitrage
==========
▪Buying a financial instrument in one market in order to sell the same instrument at a higher price in another market.
-> Adverse Action
=================
▪Under the...
Banking term of the day
Adjustable-Rate Mortgages (ARMS)
▪Also known as variable-rate mortgages. The initial interest rate is usually below that of conventional fixed-rate loans.
▪The interest rate may
change over the...
Banking Term of the day
'->Acquiring Bank
----------------------
▪In a merger, the bank that absorbs the bank acquired.
->Accrued interest
----------------------
▪Interest due from issue date or from the last coupon payment date to...
Banking Term of the day
Business of Banking
=========
▪Accepting deposits, borrowing money, lending money, investing, dealing in bills, dealing in Foreign Exchange, Hiring Lockers, Opening Safe Custody Accounts, Issuing Letters...
Banking term of the day
'=>Offer for Sale:
▪An offer to the public by, or on behalf of, the holders of securities already
in issue.
=> Offer for Subscription:
▪The offer of new...
