Meaning NEFT stands for National Electronic Funds Transfer. It is an online payment system that allows users to…

Meaning A Moratorium is a temporary pause given by banks on loan repayments for a specific period. During…

Definition The Minimum Balance Requirement is the rule set by banks that decides how much money must stay…

Meaning Micro Insurance provides small-scale insurance coverage for low-income individuals or families. It offers protection against life, health,…

Meaning Marine Insurance protects ships, cargo, and transporters from loss or damage during sea, air, or land transportation.…

Meaning Minimum Balance is the lowest amount of money that must be kept in a bank account to…

Definition IMPS stands for Immediate Payment Service. It is a real-time electronic funds transfer system that allows instant…

Meaning A Credit Limit is the maximum amount of money a bank or credit card company allows you…

Definition Credit Appraisal is the process banks use to evaluate a borrower’s ability to repay a loan. It…

Definition CBS stands for Core Banking System. It is a centralized software system that allows customers to access…