Free notes, textbooks, and exam-focused resources designed for Indian banking professionals.
In simple words, the process of converting foreign currency liability of the exporter into Indian Rupee liability is called ‘crystallization of foreign currency export bills’. The purpose of crystallization is…
(This post explains the meaning of Standby LC, Green Clause LC, Red clause LC, Without Recourse LC, back to back LC, Revolving credit LC, Irrevocable Letter of Credit confirmed by advising…
A Standby LC is a form of irrevocable guarantee for a payment. Since American Banks are prevented from giving the guarantee in that country, the concept of ‘Standby LC’ came into…
ISO 20022 (pronounced ‘ISO twenty-oh-twenty-two’) or Universal financial industry message scheme (also called” UNIFI”) is a global standard for exchanging electronic messages between financial institutions. The ISO 20022 standard covers…
Payments in the online space are facilitated by a number of intermediaries like the payment gateways and payment aggregators. These intermediaries act as the conduit between merchant & customer who…
Non-Resident Indians (NRIs) seeking housing finance in India have access to a variety of loan options offered by commercial banks. These home loans generally carry interest rates starting from approximately…
Edited and reposted on 11.05.2025 National Automated Clearing House (NACH) is a form of Electronic Clearing Service (ECS) that is available with core-banking-enabled bank branches in India. NACH has primarily…
FCNR (B) deposits and NRE deposits can be opened by Non-Resident Indians or persons of Indian Origin (PIO) or Overseas Citizens of India (OCI). The difference between FCNR (B) deposits and…
IntroductionCHIPS (Clearing House Interbank Payments System) and CHAPS (Clearing House Automated Payment System) are prominent high-value payment systems operating in different jurisdictions. While both facilitate large-value transactions, they differ in…
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