Difference between Balance of Trade and Balance of Payment The balance of Trade (BOT) and Balance of Payment (BOP) Difference between Balance of Trade and Balance of Payment International Trade: International Trade is traded between two nation or countries. International Trade, the process by which nations Export and Import goods, […]
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How to open Current Account of a Private Limited Company
How to open Current Account of a Private Limited Company Current Account of a Private Limited Company: A Company is an association of a number of persons formed for some common purposes and registered under the provision of the Companies Act 1994 Company does not dissolve by death, insolvency, or […]
Read moreHow to open Current Account of a Partnership Firm
How to open Current Account of a Partnership Firm The account of Partnership Firm: As per Partnership Act, 1932 “PARTNERSH1P’’ is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. Persons who have entered into the partnership with […]
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Definition of bank by different authors
Definition of bank by different authors In this Article, you will learn- Definition of bank by different authors What is a bank Various definition of bank The objective from the viewpoint of Bank owners, The objective from the viewpoint of the government and The objective from the viewpoint of Bank customers. The bank is […]
Read moreSpecial types of Bank’s Customers-Minor or Infant, Lunatics, Drunkard or Intoxicated Person, Married Woman, Illiterate Person, Trustees, Executors, and Administrators.
Special types of Bank’s Customers-Minor or Infant, Lunatics, Drunkard or Intoxicated Person, Married Woman, Illiterate Person, Trustees, Executors, and Administrators. Every person who is competent to contract can open an account with a bank provided the bank is satisfied regarding his bonafides and is willing to enter into necessary business […]
Read moreDuties and Obligations of Paying Banker
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. […]
Read moreHow 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 […]
Read moreCanara Bank
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 […]
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