Tag Archives: Banking

  • Electronic Fund Transfer (EFT)

    Posted on July 29, 2016 by Admin in Banking.

    Electronic Fund Transfer (EFT) is a money transfer mechanism from one bank or institution to another, through electronic means. EFT offers the flexibility of transferring money using internet services from any location in the world and once the funds are transferred, the amount is deducted from one account and credited to the other. In USA, […]

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  • SWIFT

    Posted on July 28, 2016 by Admin in Banking.

    The SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a global messaging network that financial institutions or banks use to securely communicate within themselves through a standardized system of codes. SWIFT assigns each financial institution a unique code that has either 8 characters or 11 characters. The code is also called the bank identifier code […]

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  • National Electronic Fund Transfer (NEFT)

    Posted on July 28, 2016 by Admin in Banking.

    National Electronic Funds Transfer (NEFT) is an electronic funds transfer process used within India which is used by the banks to transfer money from one bank to the other bank. With this any account holder be it individuals or corporates can transfer funds from any bank to any other bank, provided both the banks are […]

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  • Reverse Mortgage

    Posted on February 28, 2016 by Admin in Banking.

    A reverse mortgage is a special type of insured loan that allows the elderly (more than 62 years age) to borrow against the equity in their home. It helps them to withdraw tax free cash from their homes, while retaining the right to live there till they want, without any monthly interest or principal payments. […]

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  • List of Abbreviations used in Banking Industry

    Posted on August 1, 2013 by Admin in Banking.

    Abbreviations Meaning ABCI Association of Business Communicators of India ABCP Asset Backed Commercial Paper ACF Auto Correlation Function ACU Asian Clearing Union AD Authorized Dealer ADB Asian Development Bank ADF Augmented Dicky Fuller ADR Asset Development Reserve

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