Quick Reference Archive

POS Terminal (Point Of Sale Terminal)

POS, POS Terminal, Point of sale terminal, benefits, types, GPRS POS terminal, PSTN POS Terminal
POS Terminal (Point Of Sale terminal) was conceived as an automated version of cash register. POS terminals have undergone a tremendous transformation thereby becoming an integral part of digital payment channels and digital banking. Today, POS terminals
16 May 20 Author CategoryDigital Banking Products, Quick Reference No Comment Read More

Cash withdrawal facility at POS terminals

Cash withdrawal facility at POS terminals, POS, Point-of-Sale terminals, digital channels for payments, digital banking, ATM network, digital transaction, cash withdrawal limit, cards, UPI
Cash withdrawal facility at POS terminals (Point-of-Sale terminals) was introduced in India by RBI in 2009, but failed to gain acceptance among public in India. However, the facility is gradually gaining popularity among the public as general
13 May 20 Author CategoryBanking News, Digital Banking Products, Quick Reference No Comment Read More

Indian Payment Systems – An overview

Indian payment systems, digital channels, RuPay,RuPay Secure, Card systems, Immediate Payment System, IMPS, Unified Payment Interface, UPI, National Automated Clearing House, NACH, Aadhaar Enabled Payment System, AEPS, Cheque Truncation System, CTS, National Financial Switch, NFS, RTGS, NEFT, Bharat Bill Payment System, BBPS
Indian payment systems and settlements have traditionally been revolving around physical cash. Subsequent to nationalisation of banks, paper based instruments like cheque, draft and other negotiable instruments started receiving acceptance among public. There has been a rapid
27 Apr 20 Author CategoryDigital Banking Products, Quick Reference No Comment Read More

Payment Systems and Classifications

Payment system, classification, financial transactions, settle, debit cards, credit cards, electronic funds transfers, mobile wallets, smartphone, CHIPS, CHAPS, BACS, ECS, NACH, CTS, NEFT, RTGS
Payment system is a system or method adopted to settle financial transactions through the transfer of monetary value. The system enables cash equivalents to be used for settlements in domestic and international transactions in lieu of physical
26 Apr 20 Author CategoryDigital Banking Products, Quick Reference No Comment Read More

Emergency Fund – Recurring Deposits and Debt Mutual Funds

Emergency fund, Recurring deposit, Bank, Debt mutual fund, Liquid fund, SIP, redemption, return, debt instrument, NAV, Credit risk, market risk, investment horizon, maturity, fixed deposit, recurring deposit, emergency fund, ICICI Pru Liquid Fund, Kotak Banking and PSU Debt Fund, IDFC Dynamic Bond Fund, risk apetite, three debt funds,
Emergency fund always come to fore whenever economic slowdown, market volatility and liquidity crunch occurs. Bank recurring deposits and debt mutual funds are the best options for building up an emergency fund. What is an emergency fund?
20 Apr 20 Author CategoryFixed Deposit Interest Rate, Investment Guide, Mutual Fund, Quick Reference No Comment Read More

Different Types of Mortgages-A Comparison    

Different types of mortgages, Simple mortgage, Mortgage by conditional sale, Usufructuary mortgage, English mortgage, Equitable mortgage, Anomalous mortgage, Transfer of Property Act 1882, mortgagor, mortgage, notified centre, title deed
Mortgage is defined as transfer of interest in specific immovable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt or the performance
7 Apr 19 Author CategoryBanking Terms - Loans, Quick Reference No Comment Read More

MCLR -Marginal Cost of Funds Based Lending Rate 

MCLR, Marginal Cost of Funds Based Lending Rate System. Credit interest rate, BR, Base Rate, External Benchmark, performance, conditions, CRR, sunset clause, BPLR, new loans, tenor
MCLR, Marginal Cost of Funds Based Lending Rate System interest regime came into effect on April 1, 2016. This was a refined version of Base Rate system announced by RBI to further enhance the transparency of credit
31 Mar 19 Author CategoryBanking Terms, Banking Terms - Loans, Quick Reference, Regulators & Institutions No Comment Read More

Lending Rates- PLR, BPLR and BR- An Overview

Lending rate, PLR,BPLR, BR, MCLR, External Benchmark, interest rate, credit, Prime Lending Rate, Benchmark PLR, Base Rate, SLR,CRR, Financial Sector reforms, Narasimham committee
The interest rate on lending was de-regulated by RBI in October 1994. This was as part of the financial sector reforms initiated in India in 1991. Since 1994, RBI has introduced various benchmarks and guidelines with regard
31 Mar 19 Author CategoryBank Loans- General, Banking Terms, Banking Terms - Loans, Quick Reference, Regulators & Institutions One Comment Read More

Interest Rate Linked to External Benchmark – SBI Decision & Its Impacts  

Interest rate, SBI, external benchmark, Repo Rate, Savings Bank account, Overdarft, Cash Credit, Rupees one lakh, decision, impact, Monetary policy, resourse, fixed deposit
The proposal to link interest rates of retail loans and loans to SME sector was announced by the Reserve Bank of India (RBI) during the monetary policy in December 2018. The guidelines on this methodology are yet
28 Mar 19 Author CategoryBanking Awareness, Quick Reference No Comment Read More

Familiarity Bias in Investment

Familiarity bias, investing, financial asset, investment instrument, comfort zone, diversification, behavioral bias
Investment involves picking up the most suitable instrument capable of generating income over a period. As investing is a process of acquiring a financial asset by parting the hard earned money,   the investment decision is always
8 Mar 19 Author CategoryInvestment Guide, Quick Reference No Comment Read More