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 Read more…
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 Read more…
Everyone spends on movies, fuel, shopping and utility bills like telephone, electricity, broadband etc. Its better to spend through credit cards instead of cash or debit card, because credit cards offer you various benefits. The best thing is that some credit Read more…
Government has given a big pay hike for RBI Governor Urjit Patel and Deputy Governors of RBI. Basic salary of Urjit Patel, RBI Governor has been increased from Rs.90,000 per month to Rs.2,50,000 per month and that of deputy governors, Read more…
Bank of Maharashtra has reported that the bank has lost Rs.25 crores due to a fraud through UPI app. The fraud took place due to a bug in UPI , which was used by a some people in Aurangabad. Read more…
Reserve Bank of India issued notification today that all Agency Banks to remain open for public on Saturday 25th March and Sunday 26th March 2017 too, for transacting Government Business. The notification says The Government of India has advised that Read more…
The mobile wallet company Paytm has noticed that people were earning money by exploiting a flaw in the paytm wallet system. Some people were adding money to their paytm wallet using credit card, which earns them some loyalty/ reward points Read more…
What was the impact of demonetization on banks? Staff of Monetary Policy Department of RBI prepared a paper describing how demonetization affected the banks. Read: How people are exploiting Paytm flaw to earn money Impact on Balance Sheet and Profitability of Read more…
Reserve Bank of India has launched an App of its website. The app can be downloaded for Android and Apple devices. The RBI app can be searched on play store or apple store using keyword ‘Reserve Bank of India’. [irp Read more…
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 Read more…