Types of Letter of Credit

Letter of credit is a letter from a bank requesting exporter to send goods to the importer and guarantees payment. If the importer (buyer) i...

Bill of Exchange - Definition, Essentials, Parties, Kinds

A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the p...

What is a Cheque? - Definition, Essentials, Kinds, Dishonor

Cheque is an instrument in writing containing unconditional order, drawn on a banker, sign by the drawer, and payable on demand. It is used ...

Factors Determining Cash Reserves

Cash reserves refer to cash in hand with bank. It is also known as till cash. The bank must maintain cash reserves to meet its checking obli...

9 Steps to Open a Bank Account

The procedure of opening of a bank account is not difficult. It is quite simple and easy. It takes only 9 steps to open it. This article wil...

Types of Bank Accounts

Bank account is a financial account maintains by a bank that shows inflows and outflows of funds. When you go to a bank, the bank will offer...

Functions of Commercial Banks

Commercial bank is a financial institution that provides various services to business community and general public. The functions performed ...

Different Types of Banks

A bank is a financial institution that receives money and advance loans.  There are different types of banks, all providing different types...

History of Banking

If we see the history, we will come to know that there was no proper management for money.  A man felt insecure for saving his money. First...