Clearing: Definition-Types-Steps-Benefits-Limitations Ever wondered how money moves so smoothly between banks, stock exchanges, or businesses? The secret lies in a process called clearing. It might sound complex, but it’s something we interact with more often than we realize—whether paying for your morning coffee, transferring funds, or trading stocks. In this […]
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Retail Banking- Definition, Functions, Types, Products, Services Retail banking, also known as consumer banking, refers to banking services provided directly to individual consumers rather than businesses. It includes financial services like savings accounts, personal loans, credit cards, and mortgages. Functions of Retail Banking Accepting Deposits – Savings, current, and fixed […]
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What is Letter of Credit ? Type and Parties involved WHAT IS LETTER OF CREDIT? L /C is an undertaking given by a Bank on behalf of its customer to pay a certain sum of money to a certain person ( Beneficiary ) on the fulfillment of certain terms and […]
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