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, […]
Continue Reading... Comments Off on Electronic Fund Transfer (EFT)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 […]
Continue Reading... Comments Off on SWIFTNational 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 […]
Continue Reading... Comments Off on National Electronic Fund Transfer (NEFT)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. […]
Continue Reading... Comments Off on Reverse MortgageAbbreviations 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
Continue Reading... Comments Off on List of Abbreviations used in Banking Industry