What is NPI banking?
What is NPI banking?
Non-performing Investment (NPI) An NPI, similar to a non performing advance (NPA), is one where; (i) Interest/ instalment (including maturity proceeds) is due and remains unpaid for more than 90 days.
What is SGL and BR in banking?
All the transactions put through by a bank, either on outright basis or ready forward basis and whether through the mechanism of Subsidiary General Ledger (SGL) Account or Bank Receipt (BR), should be reflected on the same day in its investment account and, accordingly, for SLR purpose wherever applicable.
What is banking company as per RBI?
(b) “banking” means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawal by cheque, draft, order or otherwise; (c) “banking company” means any company which transacts the business of banking 10 [in India].
What is PII and NPI?
PII — Personally Identifiable Information. PI — Personal Information. SPI — Sensitive Personal Information. NPI — Nonpublic Personal Information.
What does GLBA cover?
The Gramm-Leach-Bliley Act requires financial institutions – companies that offer consumers financial products or services like loans, financial or investment advice, or insurance – to explain their information-sharing practices to their customers and to safeguard sensitive data.
What is SGL banking term?
With a view to facilitating entities having Subsidiary General Ledger (SGL) accounts with RBI acting as custodians on behalf of their constituents for holding Government securities in scripless form, Reserve Bank has been allowing SGL Accountholders to have a second (SGL) Account in the books of Public Debt Office …
What is a SGL?
SGL Account: Reserve Bank of India offers Subsidiary General Ledger Account (SGL) facility to select entities who can maintain their securities in SGL accounts maintained with the Public Debt Offices of the Reserve Bank of India. ii. This facilitates trading of Government securities on the stock exchanges.
What are different types of banks?
Banks are divided into several sorts. The following are the different types of banks in India:
- Central Bank.
- Cooperative Banks.
- Commercial Banks.
- Regional Rural Banks (RRB)
- Local Area Banks (LAB)
- Specialized Banks.
- Small Finance Banks.
- Payments Banks.
What is required for core banking?
Gartner defines a core banking system as a back-end system that processes daily banking transactions and posts updates to accounts and other financial records. Core banking systems typically include deposit, loan and credit processing capabilities, with interfaces to general ledger systems and reporting tools.
What is PII and SPI?
PII (personally identifiable information) or SPI (sensitive personal information), as used in information security and privacy laws, is information that can be used on its own or with other information to identify, contact, or locate a single person, or to identify an individual in context.
What is SPI under GDPR?
Sensitive Personal Information (SPI) refers to information that does not identify an individual, but is related to an individual, and communicates information that is private or could potentially harm an individual should it be made public.
What is AML OFAC?
The BSA / AML / OFAC Compliance Officer is responsible for developing, implementing and administering all aspects of the Bank Secrecy Act Compliance Program, and for assuring that the bank is in compliance with the Bank Secrecy Act, USA Patriot Act, OFAC, and all other applicable laws.
What is the meaning of the RBI rate?
It is the rate at which RBI borrows money from banks when it feels there is too much money floating in the banking system It is amount that a commercial bank should have before giving credits to its customers which should be either in the form of gold, money or bonds.
What is the difference between bank rate and repo rate?
Answer: As we saw various banking terminology, we know that the RBI’s long-term monetary policies govern the Bank Rate. Also, Repo Rates are usually for a period of up to two weeks. Therefore, the correct answer to the question is Option c – Bank and Repo. With this, we conclude our discussion on banking terminology.
What are the different types of business terminology in banking?
Banking Terminology 1 Account Balance. 2 Browse more Topics under Common Business Terminologies 3 Accrued Interest. 4 Annuities. 5 Automated Clearing House (ACH) This is a nation-wide electronic clearinghouse that monitors and manages the process of cheque and fund clearance between banks.
What is the list of important banking abbreviations?
List of Important Banking Abbreviations is given below: Terms. Banking Abbreviations. ACF. Auto Correlation Function. AD. Authorised Dealer. ADB. Asian Development Bank.
