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.

Savings Account vs Fixed Deposit Account: Difference and Comparison

Investments are one the greatest and most rewarding tools for creating wealth nowadays. For this purpose, it is necessary to have an investing platform that is secure and easy to handle. Savings accounts and fixed deposit accounts are two such platforms that allow investors to earn fixed returns easily despite the instability of market situations. …

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OLAP vs OLTP: Difference and Comparison

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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Wholesale vs Institutional Banking: Difference and Comparison

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 businesses 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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Retail Banking vs Personal Banking: Difference and Comparison

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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Universal Banking vs Commercial Banking: Difference and Comparison

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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Wholesale Banking vs Commercial Banking: Difference and Comparison

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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Wholesale Banking vs Corporate Banking: Difference and Comparison

Banks play a significant role in the economic growth of the country. Banks are the financial intermediaries between lenders and borrowers to fulfil their needs for funds and returns. Banks do several functions and provide various services to meet the needs of different customers. Wholesale banking and corporate banking are interchangeably used, but there is …

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Group Banking vs Chain Banking: Difference and Comparison

Banking is an industry that handles financial transactions. There are different types of banks functioning in various sectors of health, education, business, profession, agriculture, and so on to keep the economy running. Group banking, Chain banking, Branch banking, Unit banking, and Mixed banking are the 5 types. Group Banking vs Chain Banking The difference between …

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Nationalised vs Cooperative Banks: Difference and Comparison

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 vs 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 vs 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 vs 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 vs Cons

A guarantee 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 the …

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What is a Merchant Bank? | Definition, Working vs 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 vs 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 vs 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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Overdraft vs Demand Draft: Difference and Comparison

The backbone of the modern economy is the banking system. It is one such financial institution on which almost all individual and business entity depends. Banking institutions worldwide offer various monetary arrangements for easy financial transactions. Overdraft and Demand draft are two features that most banks worldwide offer. Many economic activities become possible with these …

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Mobile Money vs Mobile Banking: Difference and Comparison

Mobile money and Mobile Banking are separate terms for a modernized cashless transaction. Mobile money and Mobile banking are maintained by the financial institution that provides the service for the users. Mobile Money vs Mobile Banking The difference between Mobile money and Mobile banking is that mobile money enables only person-to-person (P2P) payments, and Mobile …

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Merchant vs Wholesale Banking: Difference and Comparison

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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EFT vs RTGS: Difference and Comparison

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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ACH vs eCheck: Difference and Comparison

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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Commercial Bank vs Private Bank: Difference and Comparison

Commercial and Private Banks are financial institutions that lend funds to individuals and help save deposits. Through investment markets, banks perform these activities either directly or indirectly. On the one hand, where a commercial bank accepts deposits, offers actual investment products that are regulated as a business for profit and makes business loans. In contrast, …

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Commercial Bank vs Development Bank: Difference and Comparison

The primary function of a bank is to support the economic system by acting as a mediator between depositors and loan seekers. Banking services are essential for developing a country, functioning as the backbone of economies. Three categories of Banks are Commercial Bank, Co-operative Banks and Developmental Banks.  These can be differentiated based on their …

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ACH vs NEFT: Difference and Comparison

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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ACH vs RTGS: Difference and Comparison

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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Commercial Bank vs Small Finance Bank: Difference and Comparison

Banking has existed in one form or another from ancient times onwards as an essential part of society to manage the financial activities of individuals and businesses. Clever banking ideas and facilities are the best way to grow one’s finances and organise funds for different purposes. People’s deposits should be managed effectively and provide them …

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Merchant Bank vs Development Bank: Difference and Comparison

The effective functioning of the finance sector is one of the essential aspects that can strengthen a country’s growth and development. Different types of banking services are available these days that focus on other areas. Merchant Banks and Development Banks are part of them. People need banking services to support their businesses and other finance-related …

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Private Equity vs Investment Banking: Difference and Comparison

Growing companies approach investment banks for the sole purpose of funding. It can also be said that investment banks suggest companies for funding-related queries. You are digging deep into the business model in the private equity model. People employed in private equity are inclined towards one sector. Many people go from investment banking to private …

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Short vs Long Term Loans: Difference and Comparison

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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Scheduled vs Nationalized Bank: Difference and Comparison

A bank is a financial institution, aside from receiving deposits and lending money to businesses and individuals, also involves protecting people’s money, disbursing payments, and investing the funds in securities. The concept of the banking system in India was developed during the British Era. The British East India Company established three banks in India during …

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