Search results
Results from the WOW.Com Content Network
Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) is a central online security interest registry of India.It was primarily created to check frauds in lending against equitable mortgages, in which people would take multiple loans on the same asset from different banks.
A fixed deposit means that the money cannot be withdrawn before maturity unlike a recurring deposit or a demand deposit. Due to this limitation, some banks offer additional services to FD holders such as loans against FD certificates at competitive interest rates. Banks may offer lesser interest rates under uncertain economic conditions. [1]
In the event the customer wants to withdraw more than what is deposited in his savings account, the bank would withdraw money from the fixed deposit component. Many banks do not allow customers to take out loans against amounts in the FD component of Flexi Fixed deposits. [2] [3]
Failure to provide or delay in providing a banking facility (other than loans and advances) promised in writing by a bank or its direct selling agents; Delays, non-credit of proceeds to parties' accounts, non-payment of deposit or non-observance of the Reserve Bank directives, if any, applicable to rate of interest on deposits in any savings ...
Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai.It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. [6]
A recurring deposit is a special kind of term deposit in India that is offered by Indian banks and India Post which helps people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits. [1] [2]
The deposit account is a liability of the bank and an asset of the depositor (the account holder). On the other hand, a bank can lend some or all of the money it has on deposit to third parties. Such accounts, generally called loan or credit accounts, are subject to similar but reverse principles of a deposit account. In accounting terms, a ...
Under the scheme, IFCI would provide guarantees to banks against loans to young and start-up entrepreneurs belonging to scheduled castes. On 1 July 1993, it was reconstituted as a company to impart a higher degree of operational flexibility. Because there was NPA increase, and it was making loss, then gov privatised it.