Bank Promotion

Non Performing Assets – Prudential Norms

Non Performing Assets – Prudential Norms Category Treated as NPA if: Term Loan Interest and/or installment of principal remain overdue for a period of more than 90 days Overdraft/ Cash Credit (OD/CC) accounts 1)     The account remains out of order continuously for 90 days. 2)    Drawings are allowed on DP Read more…

By Jai, ago
Bank Promotion

Bank and Customer Relationship

Bank and Customer Relationship Sl No Type of Transaction Bank Customer 1 Deposit a/c and Credit balance in CC/OD Debtor Creditor 2 Loan a/c and Debit balance in CC/OD Creditor Debtor 3 Collection of cheques, TT, MT, Standing Instructions, sale/ purchase of securities, Maintenance of currency chest Agent Principal 4 Safe custody Read more…

By Jai, ago
Bank Promotion

Nomination facility in Banks

Nomination facility: Section 45 ZA to 45 ZF of the Banking Regulation Act, 1949 Procedures are given in Banking Companies (Nomination) Rules, 1985.   Account holder can nominate any individual of his choice as nominee  to receive money from the bank in case of death of the depositor. Nomination facility is Read more…

By Jai, ago
Bank Promotion

Banking Ombudsman Scheme, 2006 – FAQs

What is the Banking Ombudsman Scheme? The Banking Ombudsman Scheme provide forum to bank customers for resolution of complaints relating to banking services. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995. Who is a Banking Ombudsman? Read more…

By Jai, ago