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, non-adherence to prescribed hours of working, failure...
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 home insurance - car insurance, medi-policies and...
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 general balance of account. Bankers can have...
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 NBFC is incorporated under the Companies Act,...
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 unfavorable change in an existing account.
Adverse Action...
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 Equal Credit Opportunity Act, a creditor's refusal...
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 life of the loan as market conditions...
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 the
settlement date.
▪Accrued interest on bonds must be...
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 of Credit, Travelers’ Cheques, doing Mutual Fund...
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 securities to the public by the issuer...
Government Scheme
2018 Commonwealth Games
Officially known as → XXI Commonwealth Games
Commonly known as→ Gold Coast 2018
Held in → Gold Coast, Queensland, Australia.( 5th time Australia has hosted the Commonwealth Games. )
Officially opened by → Charles, Prince of Wales
Mascot →Borobi...
