Banking Notes

What are the modes of payment in banking and financial institutions? Different modes of payments are Cash Cheque Draft SWIFT Fax Transfer Mail Transfer Letter of Credit Mobile/Online/Internet Banking Bills of Exchange Card – Debit/Credit Promissory Note Cash – Cash payment is a very basic, traditional and common mode of payment. In this case, the buyer […]

What is Share Capital? A share capital amount of money raised by issuing the share by a company. The shareholders are the owner of the company. The total share capital is divided into small parts and each part is called a share. Share is the smallest part of the total capital of the company. The

What is a Commercial Bank? Commercial Banks are financial institutions that provide services like accepting deposit from the general public, making business loans, and offering basic investment products. Commercial Banks acts as a bridge between those who have surplus money and those who need it. Receiving deposits and advancing loans are the main functions of

The central bank is established in every country for the monetary, banking and financial development. The central bank is established for regulating the banks and financial institutions as well as helping in formulating the monetary policies in the economy. The major functions and rights of the central bank are as follows – Functions and Duties

Rastriya Banijya Bank was established in B.S. 2022 Magh 10 as a second commercial bank in Nepal. Rashtriya Bnijya Bank is one of the pioneer banks in the country with a history of more than a half-century. Earlier constituted under RBB Act 2012 with the full ownership of the government of Nepal. the bank has

Nepal Rastra Bank Act 2058 (नेपाल राष्ट्र बैंक ऐन २०५८) Nepal Rastra Bank Act 2012 सर्ब प्रथम आएको र  यहि ऐनको अधिनमा रहेर वि. सं. 2013 बैशाख 14 गते Nepal Rastra Bank को स्थापना भयो । नेपाल राष्ट्र बैंकलाई नेपालको केन्द्रिय बैंकको रुपमा स्थापित गर्नु र भारतीय मुद्रालाई विस्थापित गर्ने मुख उदेश्य सहित Nepal Rastra

Bank and Financial Institution Act 2073 – BAFIA 2073Structure Nature – Regulating lawTotal section 14Last formation 2074/01/10 (2074 Baishakh 10) Objectives if Bank and Financial Institution Act (BAFIA) To promote public trust towards B&FIs. To provide quality & reliable banking service. To protect the right and interest of depositors and investors. To protect from banking

What is money laundering act? Money laundering is the process of concealing the source of illicit property. It is the act of decorating the illegal property with the veil and legitimate sources. It is the act of converting or changing the source and nature of the black (illegally earned proceeds) into the clean or white

What is electronic Transaction? The electronic transaction is : – transactions of electronic records data by using any types of electronic means.– contains electric records and valid digital medium.– the exchange of all types of records which are in the form of electronic. Objectives of the Electronic Transaction Act 2063 To make legal provision for

What is a Negotiable Instrument? A negotiable instrument is the written documents transferable by delivery. It is a kind of written document/deed which can be used for business or monetary dealing with discharge value. Features of the Negotiable Instrument Written document It has the right of ownership It creates the right and liabilities to the parties.