Banking

The bill of exchange and promissory note are negotiable instruments used for carrying out various economic activities. However, they vary from each other in many ways. The significant difference between them is that a bill of exchange is a written order drafted by the drawer on the drawee to receive the mentioned sum within the specified period. Whereas, a promissory note is a … [Read more...] about Bill of Exchange Vs Promissory Note

The central bank and commercial banks both form the base of a country's economy. However, they are incredibly different from one another. When the central bank is the supreme organization of the banking system of any country, the commercial banks function under the rules, regulations, policies and guidelines of the central bank. The significant difference between the two is … [Read more...] about Central Bank Vs Commercial Bank

Definition: Kiosk banking was introduced by the Reserve Bank of India(RBI) to facilitate primary banking services to the poor and low-income group localities at a reasonable cost without the need for visiting the bank. KIOSK is 'Kommunikasjon Integrert Offentlig Service Kontor'. It is an initiative to benefit the poor section of the society who usually are daily wage … [Read more...] about Kiosk Banking