Forex

Forex

Forex: The Foreign exchange market, in banking parlance, is the “virtual place” where currencies are traded/exchanged. Exchange of Currencies is the back bone of foreign trade and business. It also is a huge income earner in the case of countries where Tourism is a major attraction. Nostro/Vostro Account: A bank account held in a foreign […]

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NPA – Non Performing Assets

NPA – Non Performing Assets

Non-Performing Assets: Financial institutions classify an asset as a Non-Performing Asset depending on the age of the default under that Asset (generally loan given by the institution). Usually, when an Interest or Principle instalment under a loan remains overdue for a specified period of time the loan is classified as NPA.   Non-performing assets affect […]

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Funds Transfer Terminology in India

Funds Transfer Terminology in India

In banking and finance, clearing denotes all activities from the time a commitment is made for a transaction until it is settled. Clearing of payments is necessary to turn the promise of payment (for example, in the form of a cheque or electronic payment request) into actual movement of money from one bank to another/from […]

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