Free look period is a fortnight given to a new insurance policy holder to examine the life insurance contract that he has signed. In case he does not...
Plastic money refers to various forms of payment cards made of plastic that act as a substitute for cash transactions. It includes credit cards, debit cards, prepaid cards,...
A credit score is a numerical representation of an individual’s or organisation’s creditworthiness, reflecting their ability to repay borrowed money based on past financial behaviour. It is a...
A No Frills Account refers to a type of basic savings account introduced by banks to provide affordable banking services to low-income groups and financially excluded sections of...
All deposits upto Rs 1 lakh in a commercial or cooperative bank in India are insured by the Deposit Insurance and Credit Guarantee Corporation of India DICGC. The...
The Nomination Facility in Bank Accounts is a provision that allows an account holder to appoint one or more persons to receive the proceeds of their account in...
The Banking Ombudsman is a quasi-judicial authority established by the Reserve Bank of India (RBI) to redress customer grievances against banks in India. It provides an inexpensive, impartial,...
BCSBI is an independent and autonomous body set up by RBI to ensure that comprehensive code of conduct for fair treatment of customers was evolved and adhered to....
Financial inclusion means providing to the large unbanked population of India access to financial products and services like:Bank accounts, immediate credit, savings products, remittance and payment services, insurance,...
The Capital Adequacy Ratio (CAR), also known as the Capital to Risk-Weighted Assets Ratio (CRAR), is a key financial metric that measures a bank’s capital strength and its...
