What is Banking Ombudsman Scheme 2006 ?

Banking Ombudsman Scheme 2006 – The guidelines which are needed to be followed as per Banking Ombudsman. Customer must know the basic of Banking Ombudsman steps. Follow

Define Acceptnace in Banking

This is drawee? acknowledgement of the LIABILITY on a BILL OF EXCHANGE, in writing on the instrument itself. A bill may also bear the co-acceptance

Define Arbitrage

The simultaneous purchase and sale transactions in a security or a commodity, undertaken in different markets to profit from price differences.

What is Accrual Basis ?

A method of accounting that recognizes revenues and expenses as they accrue, even though cash would not have been received or paid during the accrual