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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.
What is Letter of Credit? A Letter of Credit (L/C) or Documentary Credit refers to a contract/ agreement/ undertaking to facilitates the guaranteed payment mechanism to the exporters of goods or services by the banks on the behalf of importer/ buyer provided the supplier fulfill all the predefined conditions described in the sale contract between … Read more
In today’s market scenario the companies which are either manufacturers or traders or exporters have to provide credits to its customers for selling goods or services. It could be 30, 40, 60 or 90 days which leads to massive investments for the companies. This becomes a major hurdle for small and medium types of industries … Read more
In this blog, we are going to brief the Cooperative Banking of India and by the end of this article you’ll be able to learn: What are Cooperative Banks? History of Cooperative Banking Structure/ Types of Cooperative Bank The function of Cooperative Bank Let us first understand what is the meaning of cooperative society. When … Read more
5 Major Functions of Commercial Banks: In this article, we are going to explain, 5 Major functions of Commercial Banks. What are Commercial Banks? Commercial Banking in India. but before we start, let us know What are the Commercial Bank first. “Commercial Banks are those financial institutions which accept deposits from the public and advance … Read more
In this article, we will understand the structure (or hierarchy) types of banking in India. We will also discuss the functions, importance, the purpose of establishment of each type of banks established in India. First to understand the whole topic see the following hierarchy of Banking system in India. Also to understand the overview of … Read more