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...
With the increasing use of credit, debit cards for withdrawal of cash from ATMs, the use of the term plastic money is common. These cards being of plastic...
It is the statistical summary of the individual bits of information on the credit report of an entity. A credit score predicts how likely it is that a...
It is supposed to be a basic savings bank account for the benefit of all sections of the population. Such accounts require either nil or low minimum balance...
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...
Nomination in bank accounts prevents harassment and facilitates the bank to make payment to the nominee of a deceased depositor, of the amount standing to the credit of...
An independent dispute resolution authority provided by RBI to deal with disputes that bank customers have with their respective banks. The authority is to be approached after the...
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,...
CRAR is the acronym for capital to risk weighted assets ratio, a standard metric to measure balance sheet strength of banks.BASEL I and BASEL II are global capital...
