What is KYC norms?

Deposits

Updated as per RBI amended Master Direction dated June 04, 2024 KYC stands for “Know Your Customer”. It’s a process to prevent banks and other financial institutions from being used as a channel for Money Laundering (ML)/ Terrorist Financing (TF) and to ensure the integrity and stability of the financial system, efforts are continuously being…

Terminologies used in Foreign exchange dealings and fundamental of forex market

Foreign Exchange1 Comment

Originally posted on 8.11.2014 and Updated on 06.01.2024 [This post contains fundamental aspects of foreign exchange; and forex markets;  as well as over 100  terminologies used in  forex dealings such as direct and indirect Quote; buying rate, selling rate, forward exchange rate, swap rate, spot rate, cross rate, transaction date, value date, Spread, premium, discount,…