Microfiche is a French word for “small card”. It is made of a flat sheet of a thin photographic film usually with a polyester base on which multiple pages are captured in reduced size. The standard size is 105mm x 148mm (about 4 inches x 6 inches). This is the same size as ISO A6…
The major uses of cash counting machines are the accuracy and speed in counting that they provide. Note-counting machines can count stacks of money quickly and more accurately. These machines also detect counterfeit notes. Currency counters are commonly used in vending machines to determine what amount of money has been deposited by customers. In some…
Signature Storage and Retrieval System (SSRS) is a technology used by banks and financial institutions to store, manage, and retrieve customers’ signatures electronically. SSRS comprises an arrangement where a signature is optically scanned and digitally coded. The signature of the customer is captured electronically using specialized signature capture devices. The captured signature is converted into…
LAN stands for the acronym for local area network, and WAN stands for wide area network. LANs and WANs are both computer networks made up of nodes and links. Both the LAN and WAN networks require two or more nodes to create a computer network. LANs connect devices that are physically close to each other…
Core Banking Solution (CBS) is centralized Banking Application software. The Customers can access their accounts and perform certain transactions from any of the bank’s branches through the network. It has several components that support a database, application server, web server, and firewall to protect the system from outside attacks. Core banking systems are used by…
Information and Communication Technology (ICT) includes a wide variety of technologies in many areas, including business, education, and economic growth. ICT can also be used in health, tourism, agriculture, culture, banking, and entrepreneurship. ICT can help improve the quality of teaching and learning, and make education more accessible and equitable. It can also help teachers…
Corporate Debt Restructuring (“CDR”) is typically a voluntary framework, under which financial institutions and banks restructure the debt of companies facing financial difficulties due to various factors, to provide support at the right time for such businesses. It helps a company in financial distress realign its obligations and restore liquidity, avoid bankruptcy, and stay in…
It is inevitable for banks to ascertain that bank could easily take possession of such security based on documents obtained from the borrower with very little expenses and dispose-off the same to recover its dues when the account goes bad. Banks obtain different types of documents from the borrower based on the type of security…
A legal document is a written agreement between two or more parties that can be relied upon in court. They can be used to establish contractual relationships, grant rights, or provide evidence for legal obligations. It is inevitable for banks to ascertain that they could easily take possession of such security based on documents obtained…
Banks may lend up to 80 to 85 percent of the face value of NSCs or KVPs in the form of a loan or overdraft facility. Process To get a loan, the NSC or KVP holder must pledge the certificates to the lender. On application, the concerned post office where the certificates were purchased will…