Banking

Learn about various Banking related topics. This page is your one-stop solution to the world of Banking. Our aim for the banking category is high-quality content that is easy to understand. The content for each page is further supported with a bullet point list, table, and images. We aim to learn all your confusion related to Banking related topics.

Difference Between IMPS and NEFT

NEFT and IMPS are two types of RTGS systems based on the nature of fund transfers. NEFT and IMPS is an electronic funds transfer system that facilitates person-to-person and bank-to-bank money transfer transactions between different bank accounts in India. IMPS and NEFT are exceptionally similar, yet they are different too. IMPS vs NEFT IMPS (Immediate …

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Difference Between CRR and SLR

Every country’s central bank is responsible for keeping an eye on inflation and enforcing certain controls on money circulation in the industry. The CRR and SLR are key economic strategies for managing inflation and money flow in the country. Through these, the RBI manages bank lending capacity.  CRR vs SLR  CRR is a percentage of …

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Difference Between Visa and Maestro

Not a single person in today’s time is unknown because, in some ways, he has given his information of identity to the authorities. Visas and Maestro cards also contain the personal information of individuals to avoid unnecessary troubles. Visa vs Maestro Visa is a credit and debit card brand accepted in over 200 countries and …

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Difference Between Quid and Bob

 Currency is one of the most important things in this world. Every people need currency to survive in this world. Currency is the same, but their values and names differ for every country. Quid and Bob are currencies used in different countries. Quid is a slang term for Pound. Bob is used in Bolivia. Quid …

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Difference Between OLAP and OLTP

OLAP and OLTP are online processing systems. However, there are prominent differences between them. OLAP and OLTP vary in their data, transaction, time, queries, and normalisation. OLAP refers to an Online Analytical Processing system. In contrast, OLTP refers to the Online Transaction Processing system. There are several other differentiating factors between the two. OLAP vs …

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Difference Between ISIN and CUSIP

ISIN and CUSIP codes are two of the world’s most famous checkpoints for securities and are especially important for trade, selling, and purchase of shares. ISIN vs CUSIP ISIN stands for International Securities Identification Number, and is a code that is used to identify securities issued by companies or governments. It’s a 12-character alphanumeric code. …

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Difference Between Wholesale Banking and Institutional Banking

The financial area assists nations with keeping up soundness and maintainability in their economy. The financial business offers various advances and freedoms to end clients, associations, and governments to develop their business and acquire benefits.  Simultaneously, they likewise make approaches to limit the dangers to the organizations. The financial framework comes in various structures, for …

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Difference Between Quid and Dollar

The cash of a nation is the foundation of its economy. Nonetheless, the nations, for example, Sweden, that has gone totally paperless, there are many paper monetary standards on the planet like the Dollar, Pound, and Euro. Quid vs Dollar The difference between the dollar and the quid is that the pound is authorized money …

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Difference Between Retail Banking and Personal Banking

Banks provide retail banking and personal banking services to the general public or individual or retail customers rather than corporate, businesses, institutions, etc., and both are pretty similar in products and services because both offer approximately the same or quite similar products and services. Retail Banking vs Personal Banking In retail banking, facilities are provided …

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Difference Between Quid and Euro

Currency is the medium of exchange of goods and services authorized by the government of a particular country. Currency is the backbone of an independent and strong nation. There are about 180 different types of currencies across the world. Among the leading 8 currencies, the United Kingdom (UK) has Pound Sterling or Quid, and Euro …

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Difference Between Pound and Dollar

Money plays a significant role in our day-to-day lives in various forms, for business, education or anything else in the purchase. There are various forms of currencies used across the globe. They have separate names as well as different values. Few nations have currencies like the rupee, dollar, pound, and taka, yuan. Whenever someone travels …

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Difference Between Universal Banking and Commercial Banking

Banking is the system that handles all financial transactions. Several types of banking provide different types of facilities; Universal and Commercial Banking are also two types of banking with functions and roles. Universal Banking is much broader, with more functions than Commercial Banking. Universal Banking vs Commercial Banking  Universal banking is a type of banking …

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Difference Between Wholesale Banking and Commercial Banking

The banking sector helps countries to maintain stability and sustainability in its economy. The banking industry offers different loans and opportunities to end-users, organizations, and governments to grow their business and earn profit. At the same time, they also create policies to minimize the risks to the businesses. The banking system comes in different forms: …

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Difference Between Nationalised Banks and Cooperative Banks

Indian Banking Systems provides many services to the public sector elevating the Indian economy. The Reserve Bank of India regulates these banks through the Parliament Act of the Government of India. Many types of banks are present in India – Nationalised Banks, Cooperative Banks, Scheduled Banks, Private Banks, Non-Scheduled Banks, etc. The bank provides loans, …

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What is Investment Bank? | Definition, Working, Pros and Cons

Banking is a service that everyone uses, whether it is an individual, small business, big corporation, or government. Individuals and small businesses often use commercial banks for their day-to-day financial activity, whereas big corporations and governments use investment banks for financial operations. These banks operate with different principal than others and often deal with large …

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What is Computerised Accounting? | Definition, Working, Advantages and Disadvantages

 Computerised accounting is the new-age method of gathering, recording and maintaining the financial information of a business or an organisation. This system entered the accounting world following the advent of computers in the 1980s. With its arrival, computing and maintaining financial information became child’s play for organisations and businesses. No wonder it is now the …

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What is Manual Accounting? | Definition, Uses and Working

Before the advent of the digital revolution, most business-related activities, mainly financial accounting, used to be done by hand using pen, pencil and paper. Even today, this traditional manual accounting methodology is prevalent among business entities and companies. This accounting system entails keeping transaction records in books and journals manually converted into financial reports. It …

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What is Bank Guarantee? | Working, Types, Examples, Pros and Cons

A guarantee usually means giving something as security. A lending organisation offers a bank guarantee that promises to pay for forfeiture if a debtor defaults on money or voids contract obligations within certain regulations. The guarantee increases the company’s purchase power and, in turn, grows the business. There are 2 primary kinds of assurances by …

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What is a Merchant Bank? | Definition, Working and Types

What is Merchant Bank The traditional functions include:  How does it work? Advantages and Disadvantages of Merchant Banks: Advantages Disadvantages Merchant Banking customers get the most honest advice as they deal with experts and get counselling sessions fit for their respective businesses. Merchant banking services are very costly; this is one of the major disadvantages. …

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What is Public Sector Bank? | Definition, Working, Advantages and Disadvantages

Banks are the most important financial institutions in the world. The banking system makes all financial transactions possible without much hassle. People can save their money in banks, take loans, and transfer funds easily through bank accounts. However, all banks are not the same. According to their stakeholders, banks can be classified into two types. …

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What is Branch Banking? | Working, Guide, Pros and Cons

Banking has become the foundation of modern economic activity. Banks offer various financial services like saving, loans, and fund transfers. Everyone uses banking services daily, Whether an individual or a business entity. Doing financial activity securely will become nearly impossible without proper banking services. However, many people don’t know that all banks are not the …

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Difference Between Pound and Quid

The currency of a country is the backbone of its economy. However, the countries such as Sweden that have gone entirely paperless have many paper currencies in the world, such as Dollar, Pound, and Euro. The pound is a popular currency in prevalence in many countries. It is often confused with the word quid. Pound …

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Difference Between Merchant Banking and Wholesale Banking

Merchant Bank is an entity that performs different types of financial activities for its clients. This bank does not provide any regular banking services to the general public. The wholesale bank provides banking services to other institutional customers, big companies with solid balance sheets, government agencies, etc. These do not provide services to individual people …

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Difference Between EFT and RTGS

Banks are licensed financial institutions that help customers save and lend money. Banks play a vital role in people’s lives by offering support to individuals and businesses. The financial services offered by banks help people manage their lives effectively. Banks offer attractive benefits to attract customers to sustain the business due to competition. Electronic Fund …

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Difference Between EFT and EDI

Rapid growth is on the horizon of the world’s e-commerce market. From the basic level of the internet to innovation in its online payment methods, it is increasing the role of the internet in people’s daily lives. EFT vs EDI The difference between EFT and EDI is that the former revolves around the transfer of …

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Difference Between EFT and ECS

The country currently accepts two types of payments electronically. One is EFT(Electronic Fund Transfer), and the other is ECS(Electronic Clearing Service). EFT vs ECS The difference between EFT and ECS is that EFT transfers remunerations which may or may not be regular, from one branch to another. At the same time, ECS is a credit-clearing …

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Difference Between ACH and eCheck

Technological advancements made tremendous changes in money transactions, providing numerous options for people to make their financial dealings. Electronic money transactions emerged as the safest and most rapid method for financial trades. Paper cash and paper checks are taking a backseat in the present world, where E-checks and digital transactions are gaining prominence. ACH and E-checks …

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Difference Between EFT and NEFT

Banking has a significant role in our daily lives. With the emergence of online facilities, digital means are possible through all kinds of business and financial transactions. With online cash transaction possibilities, the need for frequent visits and waiting in long lines to get the turn to do the transaction is no longer needed. EFT and …

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Difference Between ACH and NEFT

Online banking is the new paradigm in the banking industry. It has garnered tremendous support from clients and banking officials alike. With 57% of the world’s population having access to the internet, things have pretty much changed regarding the transfer of funds. With the antagonists turning into supporters, financial institutions, too, have started to revolutionize …

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Difference Between ACH and RTGS

Transfer and distribution systems constantly evolve, offering customers and credit seekers various options. Banks offer multiple plans for payments and settlements. ACH vs RTGS ACH (Automated Clearing House) transfers are batched and settled in batches, where transactions are grouped together and processed. RTGS (Real-Time Gross Settlement) transfers are settled in real-time, meaning that they are …

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Difference Between ACH and SWIFT

Money has become part and parcel of our life. It plays a vital role in our modern society and global business. Over the years, banking has modified radically and has globally affected millions of individuals. During this age of development, instead of exchanging cash, checks, and paper works, faster electronic methods of transferring money straightforwardly …

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Difference Between Loan and Limit

Loans are an essential aspect of banking functionality that helps build the nation’s economy. Financial institutions help the individual or an enterprise financially acquire or use a property for personal reasons. In return, the banks charge an interest that the individual or an enterprise has to be paid along with the principal in a certain …

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Difference Between CD and Savings

In today’s fast-moving competitive world, it is of immense importance that hard-earned money is invested in the right place to enable it to grow energetically. There are multiple modes to invest in.CD and Savings are two of the most common and preferred options many choose. In fact, to some people, CD and Savings may seem …

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Difference Between Loan and Advance

Loan and Advance are both financial terms related to economic welfare. For an ordinary man, both liabilities must be paid off. Most people use these words synchronously but have a slightly different perspectives. Loan vs Advance The difference between a loan and an advance is that banks give loans with interest to be returned, whereas …

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Difference Between Loan and Deposit

In day-to-day life, money and banking play a crucial role for everyone, and they are an inevitable part of survival. Banks provide people with many different types of financial products to manage their money. People need money to survive for various beneficial purposes such as shelter, education, business, transport, etc. To satisfy every individual’s needs, …

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Difference Between Short and Long Term Loans

Financial Management has become a part of individuals, businesses, companies, institutions, and government’s points of concern in their everyday operations. This is a result of these sectors’ increasing trend of financial needs. Further, prioritizing their financial needs is also a significant contributor to the efficient use of their financial resources. That withstanding, growth and development …

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Difference Between Loan and EMI

Lending systems were available as old as 3000 years before. One of the earlier forms of lending systems was pawnbroking, a system of collecting collateral to offer money in return. Lending is the process of giving money to the borrower to get it paid back with interest. The interest for the amount availed is pre-defined. …

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Difference Between Cash and Fund

Every business needs money to run. To even think about running a business, the first thought that will come to anyone’s mind is how much money will be required. To let the business survive and grow, a business person might borrow loans from family members or banks; in this context, people use the terms cash …

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Difference Between EFT and ACH

Electronic Funds Transfer (EFT) refers to a method of transferring money from one bank account to another one directly. It does not in any way entail the use of paperwork. It includes direct deposits, wire transfers, automated teller machines, debit and credit cards, and electronic checks to name but a few! An automated clearing house …

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