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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.
Table of Content: What is Repo Rate or Repurchase Option Agreement Rate? What is Reverse Repo Rate? Explained with example. Effect of Repo Rate and Reverse Repo Rate on the rate of Inflation. How does the Repo Rate and Reverse Repo Rate effect on Growth Rate? What is Repo Rate? The term ‘Repo’ refers to … Read more
What is Promissory Note? “A Promissory Note is a legal, written financial documents (undertaking)/ financial instrument established between two parties issued/ drawn by one party which is consists of an unconditional, unsecured and a clear promise to pay specific amount to creditor or any third party endorsed by the creditor on a predetermined date or … Read more
In this article, we will learn about the Bill of Exchange, its usage and features. We are going to discuss the following topics. What is Bill of Exchange? Meaning and definition. Features of Bill of Exchange Types of Bill of Exchange Participants in Bill of Exchange With Example What is Bill of Exchange? “The Bill … Read more
Reserve Bank of India (RBI) is the Central Bank (Apex Bank) of India. RBI was established on 1st April 1935 due to enforcement of the RBI Act 1934. Being a statutory body RBI is not only accountable for regulating the various financial institutions in India but also it performs various other functions which are explained … Read more
In this article, we will discuss the most popular types of letter of credits and its significance in international trade. Let us first understand what is the letter of credits. Letter of Credit (LC): The letter of credit or Documentary Credit is a financial document which offers a secure payment mechanism between exporters/ supplier and importer/ … Read more
