Duties and Obligations of Paying Banker Duties and Obligations of Paying Banker and Collecting Banker under NI Act, 1881 Paying Banker >A Banker on whom a cheque is drawn should pay the cheque when it is presented for payment. , >This cheque paying function is a distinguished one of a banker. […]
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How to Open a US Bank Account as a Non-USA Citizen?
How to Open a US Bank Account as a Non-USA Citizen? How to Open a US Bank Account as a Non-USA Citizen? Now we are presenting here the process “How to Open a US Bank Account as a Non-USA Citizen”. To open a bank account in the USA is so […]
Read moreInformation of Central Bank of India on a page
Information of Central Bank of India on a page History of Central Bank of India Established in 1911, Central Bank of India was the first Indian commercial bank which was wholly owned and managed by Indians. The establishment of the Bank was the ultimate realisation of the dream of Sir Sorabji […]
Read moreINDIA BANKING REGULATION ACT 1949
INDIA BANKING REGULATION ACT 1949 INDIA BANKING REGULATION ACT, 1949 The law governing the working and functions of banks in India was .passed in 1949 and named as the Banking Regulation Act, 1949. Before passing this Act, the banking companies were governed by the Indian Companies Act, 1913. Since banking […]
Read moreUCPDC 600
UCPDC 600-Uniform Customs and Practice for Documentary Credits 600 ( UCPDC ) UCPDC 600 Bangla UCPDC ARTICLE 1 Application of UCP The Uniform Customs and Practice for Documentary Credits, 2007 Revision, ICC Publication No. 600 (“UCP”) are rules that apply to any documentary credit (“credit”) (including to the extent to […]
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Canara Bank Canara Bank Canara Bank is one of the largest public sector banks owned by the Government of India. Its headquarter is in Bengaluru. It was established at Mangalore in 1906( by Ammembal Subba Rao Pai). It is one of the oldest public sector banks in the country. […]
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Characteristics of a Bank
Characteristics of a Bank Characteristics of a Bank is given step by step 1. Dealing in Money Bank is a financial institution which deals with other people’s money i.e. money given by depositors. 2. Individual/ Company/ Firm A bank is a person or firm or a company. A banking company […]
Read moreUCPDC ARTICLE 8-9
UCPDC ARTICLE 8-9 ARTICLE 8:Confirming Bank Undertaking. a Provided that the stipulated documents are presented to the issuing bank or to any other nominated bank and that they constitute a complying presentation, the confirming bank must: i. honour, if the credit is available by a) sight payment, deferred payment or […]
Read moreUCPDC ARTICLE 5-7
UCPDC Article 5-7 ARTICLE 5 : Documents V. Goods, Services or Performance Banks deal with documents and not with goods, services or performance to which the credit may relate. ARTICLE 6 : Availability, Expiry Date and Place for presentation a. A credit must state the bank with which it is […]
Read moreUCPDC ARTICLE 4
UCPDC ARTICLE 4 UCPDC ARTICLE 4 CREDITS V. CONTRACTS: a. A credit by its nature is a separate transaction from the sale or other contract on which it may be based. Banks are in no way concerned with or bound by such contract, even if any reference whatsoever to it is included […]
Read moreUCPDC ARTICLE 3: INTERPRETATIONS
UCPDC ARTICLE 3: INTERPRETATIONS For the purpose of these rules: Where applicable, words in the singular include the plural and in the plural include the singular. A credit is irrevocable even if there is no indication to that effect. A document may be signed by handwriting, facsimile signature, perforated signature, stamp, symbol […]
Read moreRiba-Its Economic Rationale and Implications
Riba- Its Economic Rationale and Implications By Dr. Abdel-Rahman Yousri Ahmad Director General Institute of Islamic University Pakistan Introduction The word “Riba”, in Arabic language, literally means an “increment’ or addition”. In Islamic Fiqh the term riba has a special meaning. Riba is an unjustified increment in borrowing or lending […]
Read moreUCPDC Article 2: Definitions
UCPDC Article 2: Definition For the purpose of these rules: Advising bank means the bank that advises the credit at the request of the issuing bank.Applicant means the party on whose request the credit is issued. Banking day means a day on which a bank is regularly open at the […]
Read moreAnalysis of Financial Statements
Analysis of Financial Statements At the time a borrower, especially a businessmen or an industrialist, approaches a banker with a credit proposal, the banker investigates into all aspects of the borrower’s business and also about his personal character, capacity and capital. In this task of financial appraisal of the credit […]
Read moreWhat do you mean inflation, features of inflation and types of inflation
What do you mean inflation, features of inflation and types of inflation Inflation means a substantial and rapid increase in the general price level which causes a decline in the purchasing power of money.Inflation is statistically measured in terms of percentage increase in the price index per unit time (usually […]
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