What are International Financial Reporting Standards (IFRS)? International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (lASB) that is becoming the…
Digital banking is the incorporation of new and developing technologies throughout a financial services entity, in concert with associated changes in internal and external corporate and personnel relationships, to provide enhanced customer services and experiences effectively and efficiently
On-banking financial institutions (NBFIs) also mobilize financial resources directly or indirectly from people. They lend funds but do not create credit. Companies such as LIC, GIC, UTI, Development Financial Institutions, Organization of Pension and Provident Funds fall into this category.
A financial system is a network of financial institutions, financial markets, financial instruments and financial services to facilitate the transfer of funds. The system consists of savers, intermediaries, instruments and the ultimate user of funds. The level of economic growth largely depends upon and is facilitated by the state of financial system prevailing in the economy.
What is Insurance? Insurance is defined as a co-operative device to spread the loss caused by a particular risk over a number of persons who are exposed to it and…
Indian Ministry of Finance defines merchant banker as “Any person who is engaged in the business of issue management either by making arrangements regarding selling, buying or subscribing to securities…
Reserve Bank of India established in 1935 with a Mandate to set up a special Agricultural credit Department (ACD) with expert staff. RBI initiated different measures to develop a healthy…
The role of public sector banks increased after nationalization of commercial banks. On I July 1955, the government of India took over imperial Bank of India and converted it into…
What is Commercial Banks? Commercial Banks is financial Institution that accepts deposits for the purpose of lending. In other words, commercial Banks provide services such as accepting deposits, giving business…
Indian Financial Institutions The Indian banking structure has a wide and comprehensive form. Apex institutions in the form of banking institutions are playing important role in the country. The chief…