Sumitomo Mitsui Financial Group Sumitomo Mitsui Banking Corporation Sumitomo Mitsui Financial Group, Inc. (SMFG;Kabushiki kaisha mitsui sumitomo finansharu gurūpu?) is a Japanese bank holding / financial services company established by Sumitomo Mitsui Banking Corporation, which is the second largest bank in Japan by market value (as of Nov 2009). It […]
Read moreThe Salient Features of a Cheque Cheque A cheque is a document of great importance in the business world. It can be passed from one hand to another easily and so it has become a popular mode of payment. A cheque is the most economical and safe method of money […]
Read moreHow to Endorsement How to Endorsement A negotiable instrument may be transferred by negotiation or assignment. Negotiation can be effected by mere delivery if the instrument is a bearer one and by endorsement and delivery in case it is an order instrument. An order instrument means instrument payable to a […]
Read moreWhat Precautions to honor Cheque What Precautions to honor Cheque The relation between a banker and his customer is that of a debtor and creditor. Money deposited with a banker is always belongs to the customer and the bank obliged to return its equivalent to the customer or to any […]
Read moreSecurity against Loan Normally a banker does not lend money without adequate security. Security is meant to be an insurance against the money lended. The different types of securities which may be offered to a banker generally are as follows: (i) Immovable properties (ii) Movable properties (a) Goods (b) Documents […]
Read moreLoan against stock exchange securities The following are the drawbacks of advancing money against stock- exchange securities : (i) Liability to pay in case of partly-up shares. In case partly paid shares have been transferred in the banker’s name and the company makes a call, the banker will have to […]
Read moreLoan against Documents of Title of Goods Documents which in the ordinary course of trade, are regarded as proof of the possession or control of the goods, are called documents of title. They authorize the holder thereof to transfer or receive goods which are mentioned therein. Bill of lading, dock […]
Read moreLoan against Supply Bills Loan against Supply Bills: The Government and Semi-government Departments or institutions make their purchases from the market by inviting tenders. The person or contractor who quotes the lowest price, gets the order for supply of the goods or completing the work. Before the goods are finally […]
Read moreWhat is Dispatch What is Dispatch: Definitions Dispatch as verb (transitive): 1. to send off promptly, as to a destination or to perform a task 2. to discharge or complete (a task, duty, etc) promptly 3. (informal) to eat up quickly 4. to murder or execute Dispatch as noun […]
Read moreThe Bank Companies Act 1991 The Bank Companies Act 1991: This is the act which is meant for Commercial Banks and the Central Bank of the country as well. It is mandatory for all banks to abide by the provisions of this Act. This Act has given necessary power to the […]
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