REFERENCE Archive
Chip Embedded Debit and Credit Cards (EMV Chip Cards)
Debit cards and credit cards have revolutionized the banking and payment industry. The volume of financial transactions settled through cards has overtaken payments through cheques and currency in many countries. Along with increase in the volume of
RXIL-Receivable Exchange of India Limited
Receivable Exchange of India Limited (RXIL) is the first Trade Receivables Discounting System (TReDS) that became operational in India. Receivable Exchange of India Limited began its operation on January 9, 2017. TReDS is an automated system driven
TReDS-Trade Receivables Discounting System
Trade Receivables Discounting System(TReDS) is the first attempt in India to introduce automated system driven factoring service for the MSMEs. In Trade Receivables Discounting Systems, factoring service can be availed of by MSMEs without recourse. What is
Pradhan Mantri Suraksha Bima Yojna (PMSBY) : A to Z
Pradhan Mantri Suraksha Bima Yojna (PMSBY) scheme was launched by Prime Minister on May 9, 2015 as part of improving social security scheme. Another scheme Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY) was also launched along with
Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY): Enrolment to Claim Processes
Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY) and Pradhan Mantri Suraksha Bima Yojna (PMSBY) are two social security schemes dedicated to the nation by Prime Minister on May 9, 2015. The schemes provide low cost insurance to
Simple Mortgage, Equitable Mortgage and Bank Loans
In the article Different Types of Mortgages and Bank Loans, we read that Section 58 of the Transfer of Property Act mentions six kinds of mortgages. Of these mortgages, banks generally prefer mortgage by deposit of title
Different Types of Mortgages and Bank loans
What is meant by mortgage? Mortgage is specified in Section 58 of the Transfer of Property Act. Mortgage is defined as the transfer of an interest in specific immovable property for the purpose of securing i) the
LIC policies, Assignment and Bank Loans
Banks accept LIC policies assigned in their favour as security for loans to be sanctioned. A charge in favour of the bank over the LIC policy is created by assignment of LIC Policy. Which are the types
What is a security in banking terms?
Security in banking terms is anything that makes the money advanced by bank safer. Presence of security gives more confidence to bankers while processing loan applications as it improves recoverability in case the account turns bad. What
Limited Liability Partnership (LLP)
What is a Limited Liability Partnership (LLP)? Limited Liability Partnership (LLP), is a form of business entity that came into existence with effect from 9.1.2009 on enactment of Limited Liability Partnership Act, 2008. This form of entity