(Updated on June 30, 2015) 1. What is Speed Clearing ? Speed Clearing refers to collection of outstation cheques (a cheque drawn on non-local bank branch) through the local clearing. It facilitates collection of cheques drawn on outstation core-banking-enabled branches of banks, if they have a net-worked branch locally. 2. Why Speed Clearing ? The… Read More »
(Updated on September 16, 2014) Q. No. 1: How many types of cards are available to a customer? Ans: Cards can be classified on the basis of their issuance, usage and payment by the card holder. There are three types of cards (a) debit cards (b) credit cards and (c) prepaid cards. Q. No. 2:… Read More »
Q1. What is RTGS System? Ans. The acronym ‘RTGS’ stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting). ‘Real Time’ means the processing of instructions at the time they are received rather than at some later time;… Read More »
Updated on 24/07/2015 Q.1. What is NEFT? Ans: National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country participating… Read More »
updated on 29/01/2016 Q.1. What is an Automated Teller Machine (ATM)? Ans 1. Automated Teller Machine is a computerized machine that provides the customers of banks the facility of accessing their account for dispensing cash and to carry out other financial & non-financial transactions without the need to actually visit their bank branch. Q.2. What… Read More »
Protected Disclosures Scheme for Private Sector and Foreign Banks Introduction 1.1 Disclosure of information in the public interest by the employees of an organisation is increasingly gaining acceptance by public bodies for ensuring better governance standards and probity / transparency in the conduct of affairs of public institutions. Large scale corporate frauds had necessitated, internationally,… Read More »
GOVERNMENT OF NATIONAL CAPITAL DEPARTMENT OF TRADE AND TAXES (POLICY BRANCH) VYAPAR BHAWAN ,I.P.ESTATE , NEW DELHI-110002 NO.3(378)/POLICY/VAT /2013/1389-94 DATED 29.01.2016 CIRCULAR N0 37 -2015-16 SUBJECT : Expeditious Disposal of Refunds cases… Read More »
EXPOSURE DRAFT Ref:Ref No :IRDAI/NL/RI/ RI Reg/ Date:29-01-2016 INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA (GENERAL INSURANCE-REINSURANCE) REGULATIONS, 2016. IRDA (General Insurance-Reinsurance) Regulations, 2013, was notified on 7th February, 2013, stipulating various matters concerning reinsurance business transacted by the insurers/ reinsurers in India. The Insurance Act 1938 has been amended. The Insurance Laws (Amendment) Act, 2015,… Read More »
Securities and Exchange Board of India CIRCULAR CDMRD/DMP/CIR/32/2016 January 29, 2016 To, The Managing Directors / Chief Executive Officers National Commodity Derivatives Exchanges Sir / Madam, Sub.: Revision in Position Limits for Agricultural Commodities 1.… Read More »
List of Self Certified Syndicate Banks (SCSBs) for Syndicate ASBA Sl. No. Name of the bank For Details of Branches for submitting syndicate non-syndicate ASBA forms 1. HSBC Ltd. Branches 2. ICICI Bank Ltd. Branches 3. Union Bank of India Branches 4 Bank of Maharashtra Branches 5. Kotak Mahindra Bank Ltd. Branches 6. State… Read More »