Read this article to learn about the difference between EFT, NEFT and RTGS. Difference between EFT, NEFT and RTGS EFT and NEFT are electronic fund transfer modes that operate on a deferred net settlement (DNS) basis, which settles transactions in batches. In DNS, the settlement takes place at a particular point of time. All transactions are held up till that [...]
After reading this article you will learn about:- 1. Meaning of a Cheque 2. Parties to a Cheque 3. Format 4. Importance in Payment System. Meaning of a Cheque: A cheque is a negotiable instrument instructing a financial Institution to pay a specific amount of specific currency from a specific demand account held in the name of the maker/depositor's name [...]
This article throws light upon the six main channels used for the delivery of banking services. The channels are: 1. Branch Banking 2. Mobile Banking 3. ATM Channel of Banking 4. Mobile Banking or Phone Banking, Tele-Banking 5. PC Banking, y, Self Service Banking 6. Internet Banking, Online Banking, E-Banking. Channel # 1. Branch Banking: A branch of a bank [...]