Activities of Bank for International Settlements (BIS)
The Bank for International Settlements (BIS) was set up in 1930 with its head office in Basel, Switzerland and two representative offices in Hong Kong SAR and in Mexico City. The above organisation is owned by 60 central banks, representing several countries around the world that account for about 95% of world GDP. The aim…
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NDS-OM: Negotiated Dealing System
The Negotiated Dealing System (NDS) is a facilitator platform for the purchase and sale of Government securities. The members who maintain their Subsidiary General Ledger (SGL) and or Current Account with RBI can participate in the auctions using this platform. Participants are primary dealers, commercial banks, and a few Financial Institutions who are permitted to…
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What is Universal Banking?
Universal banking is generally compared to a super market where all types of financial products available within one roof. A universal bank undertakes financial services like commercial banking, investment banking, forex operations, remittances & payment systems, development banking and other financial services including functions of merchant banking, mutual funds, factoring, project finance, housing finance, credit…
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Who are Primary Dealers (PDs)?
We are aware that the Reserve Bank of India issues Government securities on behalf of the Government. Primary Dealers are the licensed dealers who deal in buying and selling these Government securities. There are two types of primary dealers, viz. Standalone Primary Dealers and Bank Primary Dealers. Standalone Primary Dealers: Most of these PDs are…
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Why Bitcoin is gaining popularity across the world?
Bitcoin is talk of town these days. On one hand, some countries like Japan, China and Australia have begun weighing regulations, while on the other, the Reserve Bank of India cautioned the general public, those users or traders of virtual currencies are doing so at their own risk. RBI in its press releases in 2013…
What are the activities of a commercial bank?
The core business of a bank is to accept deposits from the public for the purpose of lending and investment. The Section 5(b) of the Banking Regulation Act, 1949, provides that “banking” means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and…
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