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…
PPI
Definition The full form of PPI is Prepaid Payment Instruments. These are methods that store prepaid value for…
OTP (One-Time Password)
Definition The full form of OTP is One-Time Password. It is a temporary code sent to a user’s…
NFC Payments
Meaning The full form of NFC is Near Field Communication. NFC Payments use this short-range wireless technology to…