Minimum Balance Requirement
Definition The Minimum Balance Requirement is the rule set by banks that decides how much money must stay…
Credit Appraisal
Definition Credit Appraisal is the process banks use to evaluate a borrower’s ability to repay a loan. It…
Credit Limit
Meaning A Credit Limit is the maximum amount of money a bank or credit card company allows you…
IMPS (Immediate Payment Service)
Definition IMPS stands for Immediate Payment Service. It is a real-time electronic funds transfer system that allows instant…
Minimum Balance
Meaning Minimum Balance is the lowest amount of money that must be kept in a bank account to…
Cash Reserve Ratio (CRR)
Definition The Cash Reserve Ratio is the percentage of a bank’s total deposits that must be kept as…
Certificate of Deposit (CD)
Definition A Certificate of Deposit is a short-term financial instrument issued by banks to raise funds for a…
Clearing House
Meaning A Clearing House is an organization that helps banks and financial institutions settle payments and transactions among…
Core Banking System (CBS)
Definition CBS stands for Core Banking System. It is a centralized software system that allows customers to access…
No Fee on UPI Transactions: Latest Update from Finance Ministry
The Ministry of Finance has officially dismissed claims suggesting that Merchant Discount Rate (MDR) will be imposed on…