Banks-India Team Launched Careerty
It gave us immense pleasure to inform all of our regular visitors that our team has recently launched a new website Careerty is a free online portal for students, job aspirants who want to practice, discuss and seek guidance for various job related exams such as Bank Recruitment, SSC CGL and other PSU exams. Careerty has thousands of practice questions for various competitive exams such as SBI Clerk, IBPS RRB, SSC CGL and many more. The team is adding hundreds…
What is Bank Nifty?
Bank Nifty is the bank index traded in the F&O segment of NSE. It comprises of most liquid banking stocks listed on NSE. This index provides investors and market intermediaries with a benchmark that captures the capital market performance of Indian Banks. The index have 12 stocks from the banking sector which trade on the National Stock Exchange. Market Representation 1. CNX Bank Index represent about of the free float market capitalization of the stocks listed on NSE and of…
What is IIP Data?
IIP stands for Index of Industrial Production. As true with any index, IIP Data or IIP Number is a measurement which represents the status of production in the industrial sector for a given period of time compared to a reference or earlier period of time. IIP index is one of the key tool to measure the level of industrial activity in Indian economy. Strictly speaking the IIP is a short term indicator measuring industrial growth till the actual result of…
Certificate of Deposit in India
CDs are negotiable money market instrument issued in demat form or as a Usance Promissory Notes. CDs issued by banks should not have the maturity less than seven days and not more than one year. Financial Institutions are allowed to issue CDs for a period between 1 year and up to 3 years. CDs are like bank term deposits but unlike traditional time deposits these are freely negotiable and are often referred to as Negotiable Certificates of Deposit. CDs normally…
Can foreign nationals or tourists open banking account in india?
In short, the answer is "YES". Please read on for Can foreign tourists open a bank account in India during their short visit? A. Yes. Foreign tourists during their short visit to India can open a Non-Resident (Ordinary) Rupee (NRO) account (Current / Savings) with any Authorised Dealer bank dealing in foreign exchange. Such account can be opened up to a maximum period of 6 months. What are the documents required for opening such accounts? A. Passports and other valid…
How can NRIs and PIO invest in india?
The following facilities/options are available to the NRIs (Non-Resident Indians) and PIO (Person of Indian Origin) for investments in India. I. Bank Accounts and Deposits a) Non-Resident (External) Rupee (NRE) Accounts (Principal / Interest Repatriable) Savings - The interest rates on NRE Savings deposits shall be at the rate applicable to domestic savings deposits. Currently the interest rate is Term deposits – For 1 year to 3 years, the interest rates on fresh repatriable Non-Resident (External) Rupee (NRE) Term deposits…
Micro Credit or Micro Finance Facility, India
Micro Credit/ Micro Finance Facility : A Lifeline for the Poor 1. What is Micro Credit ? Micro Credit is defined as provision of thrift, credit and other financial services and products of very small amount to the poor in rural, semi-urban and urban areas for enabling them to raise their income levels and improve living standards. Micro Credit Institutions are those which provide these facilities. 2. What are the interest rates applicable ? The reform of the interest rate…
How to encash Cheques in foreign currency?
One of the services rendered by banks as part of their normal banking operations is collection of cheques deposited by their customers, some of which could also be drawn or payable on banks that are outside the country. Such cheques are called foreign currency cheques and, presently, a significant part of these cheques are US-Dollar denominated payable by banks in the United States of America. In the interest of better public awareness, the following FAQs have been prepared for cheques…
Electronic Clearing Service (ECS), India
What is Electronic Clearing Service (ECS)? Ans : ECS is an electronic mode of payment / receipt for transactions that are repetitive and periodic in nature. ECS is used by institutions for making bulk payment of amounts towards distribution of dividend, interest, salary, pension, etc., or for bulk collection of amounts towards telephone / electricity / water dues, cess / tax collections, loan installment repayments, periodic investments in mutual funds, etc. Essentially, ECS facilitates bulk transfer of monies from one…
Exchange torned, soiled, mutilated and damaged Banknotes
This FAQ describes how and where to exchange torned, soiled, mutilated and damaged Banknotes What are soiled, mutilated and imperfect banknotes? (i) Soiled banknotes are banknotes, which have become dirty and limp due to excessive use. A single numbered banknote cut into two pieces but on which the number is intact is now treated as soiled banknote. A double numbered banknote cut into two pieces but on which both the numbers are intact is now treated as soiled banknote. (ii)…