Renewal of UIIC Group Health Insurance Policy for Bank Retirees’ for the period 01.11.2018 to 31.10.2019
Renewal of UIIC Group Health Insurance Policy for Bank Retirees’ for the period 01.11.2018 to 31.10.2019 The renewal premium payable as per last year options and options for reduced basic insurance are given below under Option I, Option II, Option III & Option IV(a) & IV (b) OPTION I RENEWAL WITHOUT DOMICILIARY…
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Sovereign Gold Bond Scheme 2018-19 series II
The Government of India has announced Sovereign Gold Bond Scheme 2018-19 (“the Bonds”). The Bonds under this Scheme may be held by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual. The bond may also be held by…
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What is Value at Risk (VaR)?
Value at risk is a statistic technique that measures and estimates the level of financial risk within an organization or investment portfolio or position over a specific time frame (holding period). The three major methods are used to calculate VaR are (i) Parametric Estimates (ii) Monte Carlo simulation (iii) Historical simulation. Parametric Estimates: The method…
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What is the difference between ‘Loan waiver’ and Loan ‘Written- off’?
Let us take an example, one of your friends borrowed a sum of Rs.10000/-from you, but he was unable to repay because of his unusual financial difficulties. You have realized the situation of your friend that the repayment of loan is beyond his control; so you forgave the loan amount given to him and informed…
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ALCO and ALM systems in banks explained
This post elucidates Asset Liability Committee (ALCO) that evaluates the risk associated with Assets and Liability of banks, financial institutions and also the practice of managing risks that arise due to mismatches between the assets and liabilities known as Asset Liability Management (ALM). ALCO (Asset Liability Committee): A risk management committee in a bank that…
Documentary Collection system in international trade explained
Documentary Collection or bill collection refers to the collection of financial and/or commercial documents. The documentary collection is one of the conventional methods of payment in international trade whereby the seller forwards financial and/or commercial documents to the buyer through his bankers against cash payment or acceptance of a bill of exchange. Unlike a bill…
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