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IMPS

How To Activate IMPS in Allahabad Bank ?

Learn in few easy steps about activation of IMPS (Immediate Payment Systems) in Allahabad Bank. Customer of nationalized public sector Allahabad Bank...

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Banking News

What is Unified Payment Interface ?

Reserve Bank of India have just launched a Unified Payments Interface (UPI), a Mobile Application enabled payment system for making transaction online to any bank 24X7 without using the account number.Customer of any bank may transact through UPI apps any transaction below Rs 1 lakh,  even something as low as Rs 10.  Unified payment Interface, UPI services are currently launched by State Bank of India, Punjab National Bank, Canara...

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Banking Terms

What are preferential allotments Share ?

What are preferential allotments Share ? - Recently "[highlight]preferential allotments Share[/highlight] " was very much in news, as Government has planned to infuse Rs 25,000 crore in different public sector bank on preferential basis.Read the story [highlight]here.[/highlight] What is Share Allotment on Preferential basis ? In general we define the share allotment on preferential basis when company decided to allot their entire allotment to pre-identified people, who may or may not be existing shareholders of the company, at a pre-determined price....

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IMPS

How To Do IMPS Fund Transfer in SBI ?

How To Do IMPS Fund Transfer in SBI ? - IMPS i.e. Immediate Payment Service , a new initiative for transferring fund...

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Banking

Bank DA Feb 2016 For Employees

Bank DA Feb 2016 For Employees -  This is expected on projected date of CPI of previous two month that the Dearness Allowance for the bank employees would be 42.60% with increase of 3.40% on previous drawn dearness allowance for the month of Feb 2016 to April 2016. Average CPI for Quarter October, Nov, Dec = 6163.01 Average CPI for Quarter Jul, Aug, Sept 2015 = 6033.64 The Average Dearness Allowance for Feb 2016 = 6163.01-6033.64/4= 28 slabs or 3.40%...

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Banking

What is Commercial Paper ?

Commercial Papers : A Commercial Paper is a short term security (7 days to 365 days) issued by a corporate entity (other than a bank), at a discount to the face value. b) Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. c) Commercial Paper normally give a higher return than fixed deposits & CDs. d) Commercial Paper can be issued in denominations of Rs. 5 lakh or multiples thereof. Amount invested by a single investor should...

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Banking

What is Money Market ?

Money Market refers to the market for short-term requirement and deployment of funds. Money market instruments are those instruments, which have a maturity period of less than one year. The most active part of the money market is the market for overnight call and term money between banks and institutions and repo transactions. It is regulated by RBI. Money Market can be further divided into 3 parts. These are: a) Call Money b) Term Money c) Notice Money Call Money - The market to get funds...

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Banking

What are Different Type of Money Supply in India?

Different Type of Money Supply in India : There are different type of money in circulation to economy of India. Each and different type of money have their separate value. Find out the different type of money from Mo to M4 or broad money etc circulation in Indian Economy and banking sector. This is very important topic for economics , asked in various competitive exam like IBPS, SSC, UPSC etc. Commodity Money - Commodity money value is derived from the commodity...

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