Government Securities (GSecs), India
1. What is a Government Security? A Government security is a tradable instrument issued by the Central Government or the State Governments. It acknowledges the Government’s debt obligation. Such securities are short term (usually called treasury bills, with original maturities of less than one year) or long term (usually called Government bonds or dated securities with original maturity of one year or more). In India, the Central Government issues both, treasury bills and bonds or dated securities while the State…
What is RTGS System?
Q1. What is RTGS System? Ans. The acronym 'RTGS' stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting).'Real Time' means the processing of instructions at the time they are received rather than at some later time.'Gross Settlement' means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis). Considering that the funds settlement takes place in the books…
NEFT Fund Transfer System
What is NEFT? Ans: National Electronic Funds Transfer (NEFT) is a nation-wide system that facilitates individuals, firms and corporates to electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country. Are all bank branches in the country part of the NEFT funds transfer network? Ans: For being part of the NEFT funds transfer network, a bank branch has to be NEFT-enabled. As at end-January 2011, 74,680…
Speed Clearing of Cheques
Banks as part of their normal banking operations undertake collection of cheques deposited by their customers, some of which could also be drawn on non-local bank branches. Such cheques are called outstation cheques. In order to facilitate faster collection of outstation cheques, the Reserve Bank of India started a special clearing styled “Speed Clearing” by leveraging the core-banking-solutions implemented in banks. In the interest of better public awareness, the following FAQs on Speed Clearing have been prepared. Question 1 What…
Standard Chartered Bank, India
Standard Chartered Bank is a London based bank, currently operational within over 70 nations with more than 1,700 branches and 73,000 strong workforce as of April 2009. Although the bank is located in Britain, still a huge chunk of its revenues originate from the continents of Asia, Africa and Middle East. Standard Chartered Bank was formed as the merger of two banks viz. The Chartered Bank of India, Australia & China and The Standard Bank of British South Africa. The…
HSBC Bank, India
HSBC Bank is a subsidiary of HSBC Holdings plc, a London based banking giant which, according to the Forbes magazine, is the largest banking group in the world, and the 6th largest company in the world as of April 2009. HSBC Holdings had been established in Hong Kong in the year 1990 as the parent company to the Hongkong and Shanghai Banking Corporation (HSBC). Further, the bank moved its headquarters from Hong Kong to London. Key Atributes With a loan-deposit…
Deutsche Bank, India
Deutsche Bank, headquartered at Frankfurt in Germany, ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management. It is one the world's leading international financial service providers with roughly EURO trillion in assets and approximately 80,000 employees. Deutsche Bank is listed on the Frankfurt (FWB) and New York stock exchanges (NYSE). Products and Services The bank operates in Investment banking, Commercial banking, Retail banking, Private banking, and Asset management The bank’s business…
DBS Bank, India
DBS Bank is a Singapore-based bank, and is known to be one of the largest banks to exist in South East Asian region by asset value. The government of Singapore established the DBS Bank in the year 1968, and it was primarily aimed at providing development oriented financial services. As of April 2009, the bank is actively operational in 16 markets, and has been listed on the Singapore Exchange (SGX). The bank claims “AA-“ and “Aa1” credit ratings, which speak…
Barclays India
Barclays GRCB India is led by Samir Bhatia as its Managing Director. In a short period of just two and a half years, Barclays GRCB India has placed itself amongst the most respected foreign banks in the country that is serving more than 830,000 clients. Barclays offers the best premier banking services in the country. In November 2006, Barclays started serving commercial customers. Barclays Bank India provides banking services to large multinationals, public sector companies, and to small and medium…
Citibank India
Citibank is one of the largest banks in the , and is a part of the financial services company Citigroup. Citibank had been founded in the year 1812. Initially its name was City Bank of New York, which was later changed to First National City Bank of New York. In over 100 countries worldwide, Citibank has been carrying out its operations, which comprise of regular banking services along with credit card, insurance and investment services. The bank claims to have…