Bankof.in

SWIFT code is used when the transfer between two banks happens internationally. On the other hand, IFSC code is used when the fund transfers between banks takes place within the geographical boundaries of India. These two are the unique identification...

RESERVE BANK OF INDIA (RBI) RBI established on April 1, 1935 under RBI Act 1934 (on the recommendations of John Hilton Young Commission 1926 - called Royal Commission on Indian Currency and Finance), is the central bank of the country and was nationalised...

1. SDR (Special Drawing Rights): SDR are new form of International reserve assets, created by the International Monetary Fund in 1967. The value of SDR is based on the portfolio of widely used countries and they are maintained as accounting entries and...

The Importance of IFSC Code for Funds Transfer Within India In the Indian Banking system, IFSC is known as Indian Financial System Code. Itis 11 digits serial number, consisting of unique alpha-numeric character combination. The numbers can be divided...

APR: It stands for Annual Percentage Rate. APR is a percentage that is calculated on the basis of the amount financed, the finance charges, and the term of the loan. ABS: Asset-Backed Securities. It means a type of security that is backed by a pool...