Asset Reconstruction Company (ARC):
ARC is an entity that takes over bad loans, known as Non Performing Assets (NPAs) from banks and financial institutions, creates a market for such assets and enables a clean-up.
Bank for International Settlements:
The Bank for International Settlements (BIS) (in French, Banque des Règlements Internationaux (BRI)) is an international organization of central banks which “fosters international monetary and financial cooperation and serves as a bank for central banks”. The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks.
Anytime Banking:
Earlier banking was confined within the working hours only but now with introduction of ATMs, Tele-Banking and internet banking, customers can conduct their business anytime of the day and night as and when they have time and all that with convenience.
Anywhere Banking:
This has been facilitated not only by ATMs, Tele-Banking and Internet Banking, but also by Core Banking Solution (CBS) brought in by banks where customers can deposit their money, cheques and also withdraw money from any branch connected with the system. All major banks in India have brought in core banking in their operations to make banking truly Anywhere Banking.
ATM:
Short form of Automated Teller Machine, which does the job of a teller in a bank through Computer Network. ATMs are installed at bank branches and all other important places. These are useful to dispense cash, receive cash, accept cheques, give balances in the accounts and also give mini-statements to the customers. Advance ATMs provide almost all the services offered at branch offices.
Authorised capital:
It is the amount of share capital fixed in the Memorandum of Association and the article of association of a company as required by the Companies Acts (Company Law). It is also known as nominal capital or registered capital.
Bancassurance:
Bancassurance is an important channel of distribution of insurance policies, wherein banks own and sell the insurance products and bear the risk. In India, however, through this channel, policies are sold by bank staff at the bank counters, but are not owned by the banks. This channel is jointly used by banks and the insurance companies.
ARC is an entity that takes over bad loans, known as Non Performing Assets (NPAs) from banks and financial institutions, creates a market for such assets and enables a clean-up.
Bank for International Settlements:
The Bank for International Settlements (BIS) (in French, Banque des Règlements Internationaux (BRI)) is an international organization of central banks which “fosters international monetary and financial cooperation and serves as a bank for central banks”. The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks.
Anytime Banking:
Earlier banking was confined within the working hours only but now with introduction of ATMs, Tele-Banking and internet banking, customers can conduct their business anytime of the day and night as and when they have time and all that with convenience.
Anywhere Banking:
This has been facilitated not only by ATMs, Tele-Banking and Internet Banking, but also by Core Banking Solution (CBS) brought in by banks where customers can deposit their money, cheques and also withdraw money from any branch connected with the system. All major banks in India have brought in core banking in their operations to make banking truly Anywhere Banking.
ATM:
Short form of Automated Teller Machine, which does the job of a teller in a bank through Computer Network. ATMs are installed at bank branches and all other important places. These are useful to dispense cash, receive cash, accept cheques, give balances in the accounts and also give mini-statements to the customers. Advance ATMs provide almost all the services offered at branch offices.
Authorised capital:
It is the amount of share capital fixed in the Memorandum of Association and the article of association of a company as required by the Companies Acts (Company Law). It is also known as nominal capital or registered capital.
Bancassurance:
Bancassurance is an important channel of distribution of insurance policies, wherein banks own and sell the insurance products and bear the risk. In India, however, through this channel, policies are sold by bank staff at the bank counters, but are not owned by the banks. This channel is jointly used by banks and the insurance companies.
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