What are BASEL Banking Norms/Accords ?

What are BASEL Banking Norms? Basel is a city in Switzerland which is also the headquarters of Bureau of International Settlement (BIS).  BIS appointed a committee to supervise and to set some standards. Currently there are 27 member nations in the committee. Basel guidelines refer to broad supervisory standards formulated by this group of central […]

What is SWIFT Code

SWIFT stands for Society for Worldwide Inter-bank Financial Telecommunication. SWIFT is a co-operative society. SWIFT Code is a standard format of bank Identifier code. India was 74th Nation to join SWIFT Network.  it is unique identification code for a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers. Banks also used the […]

Difference between Cheque and Demand Draft

It is important to know about Cheque and Demand Draft before understanding the differences between cheque and demand draft. Cheque : Cheque is a negotiable instrument instructing a Bank to pay a specific amount from a specified account held in the maker/depositor’s name with that Bank. Demand Draft : A demand draft is an instrument used for […]

New ISO 20022 Compliant RTGS and WMA

Dear Friends, Here are Some important topics that may be asked in IBPS PO-III Interview : New RTGS 20022 compliant System and Ways and Mean Advances (WMA). Read Below in Details : New ISO 20022 compliant RTGS System : Dr. Raghuram Rajan, Governor, Reserve Bank of India launched the new Real Time Gross Settlement (RTGS) […]

Types of Taxes for IBPS PO Interview

Direct and Indirect Taxes: Direct taxes are defined as those taxes levied immediately on the property and incomes of persons and which are paid directly by the consumers to the state. Thus, income and wealth taxes, estate duties, and toll taxes paid directly to the state form the group of direct taxes. All other taxes […]

Budget and Deficits Concepts for IBPS PO Interview

The term ‘Budget’ refers to the financial statement (or documents) placed by the government before the legislature every year on a specific date. A budget sets forth the anticipated expenditure of the government during the next financial year (called the budget year) and the receiptsfor the same period: (a) underexisting laws inforce, and (b)  as a […]