Category Banking

Role of KYC in banking

The objective is to prevent fraud at entry-level. It enables the Bank to understand the customers and their financial dealings to manage their risks prudently.  The KYC policy includes:  Customer acceptance policy.  Customer Identification procedures.  Monitoring of Transactions and Risk…


Meaning of Deposit As per section 2(31) of the Companies Act,2013 ‘deposit’ includes any receipt of money by way of deposit or loan or in any other form by a company. The procedure of Acceptance of deposit As per section…

Saving Schemes

Saving schemes are launched by the Government of India, Banks, and financial institutions. Saving schemes help investors to achieve their financial goals over a period of time. Governments or banks decide the rate of interest in these schemes. An investor…

National Pension Scheme

National Pension Scheme (NPS) is an initiative taken by the central government. Is it an easily accessible, low cost, tax-efficient, flexible, and portable retirement savings account. These schemes encourage you to invest regularly for your retirement account at an early…

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