Articles related to Banking Knowledge.
Here is the comparison of MCLR (Marginal Cost based Lending Rates) rates of all the major banks in India. These MCLR Rates are updated from time to time. Lowest MCLR is of State Bank of India. MCLR Rate is the minimum lending rate and all the loan products are linked to Read more…
Reserve Bank of India on September 1, 2016 issued notification and letter to Credit Information Companies (CIC) to provide one free Credit Information Report (CIR) in a year (January to December). CIBIL (Credit Information Bureau of India Limited) is the leading CIC and most of the banks/ FIs use CIBIL to draw CIRs Read more…
Different type of bank accounts a Non Resident Indian (NRI) can open and maintain in India, their features and benefits are: Non-Resident Ordinary Rupee Account (NRO Account) May be in the form of Saving Account, Current Account, Recurring Deposit or Fixed Deposit. Resident can be a joint holder with NRI Read more…
Current Assets are the assets which can be converted in cash within a short period of time (not more than one year). There are some assets, which can be disposed to generate cash immediately, which are known as liquid assets and some other which are held to generate cash within Read more…
Standby Letter of Credit (SBLC) acts almost like a substitute for guarantee. SBLC is a guarantee to make payment in case of non-performance, which is issued by a bank on behalf of a client. Unlike Letter of Credit under which are primary method of payment, SBLCs are used as secondary Read more…