UPI-enabled Apps
Meaning UPI-enabled Apps are mobile or web applications that allow users to send and receive money using the…
UPI Reconciliation
Meaning UPI Reconciliation is the process of comparing UPI payment records with bank statements to ensure that all…
Bank Locker
Definition A Bank Locker is a safe storage facility provided by banks where customers can keep valuable items…
Cheque Bounce
Meaning Cheque Bounce occurs when a bank refuses to honor a cheque due to insufficient funds, signature mismatch,…
Business Correspondent
Meaning A Business Correspondent (BC) is a person or company appointed by banks to provide banking services in…
Cheque Truncation System (CTS)
Definition CTS stands for Cheque Truncation System. It is a system where physical cheques are converted into electronic…
Branchless Banking
Definition Branchless Banking means providing banking services without a physical branch. It uses technology like mobile banking, ATMs,…
Call Money
Definition Call Money is a short-term loan given by banks to other banks, repayable on demand, usually within…
Demand Draft (DD)
Meaning A Demand Draft (DD) is a prepaid instrument issued by a bank to transfer money from one…
Commercial Bank
Definition A Commercial Bank is a financial institution that accepts deposits, provides loans, and offers other banking services…