VIGILANCE FUNCTION IN BANKS The dictionary defines Vigilance as being watchful and cautious to detect danger, being ever awake and alert. While being vigilant is important in all walks of life, the observance of vigilance becomes more critical in the financial sector and … [Read more...] about PREVENTIVE VIGILANCE IN BANKS
CHEQUE TRUNCATION SYSTEM
Introduction Truncation is the process of stopping the flow of the physical cheque issued by a drawer at some point by the presenting bank en-route to the paying bank branch. In its place, an electronic image of the cheque is transmitted to the paying branch through the … [Read more...] about CHEQUE TRUNCATION SYSTEM
RBI Provides NPA relief to banks, curbs dividends, cuts Reverse Repo by 25 basis points and Rs 50,000 crore TLTRO 2.0 for NBFCs
Reserve Bank of India (RBI) Governor Shaktikanta Das today announced a second tranche of liquidity boost for the economy. The announcements covered four key points: A 25 basis point reverse repo cut taking it to 3.75 per cent from 4 per cent earlier. The move has been … [Read more...] about RBI Provides NPA relief to banks, curbs dividends, cuts Reverse Repo by 25 basis points and Rs 50,000 crore TLTRO 2.0 for NBFCs
BANKER CUSTOMER RELATIONSHIP
The relationship between a banker and a customer comes into existence when the banker agrees to open an account in the name of the customer. The relationship between a banker and a customer depends on the activities, products, or services provided by the bank to its customers or … [Read more...] about BANKER CUSTOMER RELATIONSHIP
NOMINATION FACILITY IN BANK ACCOUNTS
Nomination is the right conferred upon the holder of a bank account to appoint one or more persons who will be entitled to receive monies upon the death of the account holder. In the event of death of an account or locker holder, the bank can release the account proceeds or … [Read more...] about NOMINATION FACILITY IN BANK ACCOUNTS