What is Pari Passu Charge?

What is Pari Passu Charge?

Meaning of pari passu charge – Pari-passu is a Latin phrase, which means “equal footing”.  Thus pari passu charge means, having equivalent charge/ rights or say charge-holders have equal rights over the asset on which pari pasu charge is created....
Difference between first charge and second charge

Difference between first charge and second charge

Difference between first Charge and 2nd Charge and pari passu charge has been explained in this article. Meaning of Charge in Banking: Evidence of a lien or mortgage that secures the repayment of a loan. So when we say, charged asset, it refers to the assets mortgaged...
Effect of Bank Strike on 28th February 2017

Effect of Bank Strike on 28th February 2017

Public Sector Bank Employees were on strike today, which was called by United Forum of Bank Unions (UFBU). C H Venkatachalam, General Secretary, All India Bank Employees’ Association said that around 85,000 branches of commercial banks, 105,000 branches of...
Scribbled Currency Notes are Legal Tender : RBI

Scribbled Currency Notes are Legal Tender : RBI

There were rumors in the public that new currency notes of denominations of Rs.500 and Rs.200 having something scribbled on them are not legal tender. Various incidence of branches of some banks not accepting, if there is scribbling on currency notes, have also come...
Clean Note Policy by RBI

Clean Note Policy by RBI

Salient Features of Clean Note Policy by RBI: Do away with stapling of note packets Introduce banding the packets with paper/polythene bands so that the life of the currency notes is increased. The objective of the Reserve Bank’s Clean Note Policy is to give the...
6 things to know about Bharat QR payment method

6 things to know about Bharat QR payment method

1. Who are behind the Bharat QR code MasterCard, American Express, National Payment Corporation of India (NPCI) and Visa have collaborated to promote acceptance of the Bharat QR payment method. 2.How to generate QR code for receiving payment You can generate QR code...

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