Banking

The banking system is the backbone of the economy of a country. The banks also play a crucial role in day to day life of the citizens.

Difference between Letter of Credit and Bank Guarantee

Difference between Letter of Credit and Bank guarantee

There is always a credit risk for both buyers and sellers during domestic or international trade/ transaction between two parties. The letters of credit and bank guarantees, both are utilised to mitigate the credit risks of buyers. However, letter of credit and bank guarantee are not similar and often used (domestic and international) in different […]

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List of Banks in India | Indian Banks List (As of April 2020)

banks in india

The banks are the major components of the Indian financial system which play a vital role in the economic development of India. In this article, we will go through each type of banks, functioning in India as of 1st April 2020. But before we go ahead, let us first discuss how many categories of banks are functioning in India.

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Functions of Banks | Bank Definition And Important Banking Services

functions of banks

The banking system plays a vital role in economic development and is one of the most significant components of the financial system of any country. The banks not only facilitates the creation of credit but at the same time they provide numerous other services for the management and transactions of funds between two persons or […]

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Bankers Cheque | How it is Different from Demand Drafts?

bankers cheque

In case of high-value transactions, real estate companies, government entities, colleges or other large corporations/ institutions typically don’t accept general/ personal cheques from individuals or firms to receive payment because there is always a risk of dishonour of the cheque. Therefore, such organisations/ institutions instruct the individuals/ entities to enclose a bankers cheque or demand […]

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