ipl-logo

Dena Bank Essay

750 Words3 Pages

B) Interbank Back Office Operations

Similar to merchant back-office operations interbank deals are also settled in the back-office. The deals are first confirmed and authenticated by the confirmation documents by the counterparty. Deals are integrated in the system and once authenticated are further processed for settlement.
What is the 'Interbank Market'?
The interbank market is the financial system of trading currencies among banks and financial institutions, excluding retail investors and smaller trading parties. While some interbank trading is done by banks on behalf of large customers, most interbank trading is proprietary, meaning that it takes place on behalf of the banks' own accounts.

Why it is Important?
1) Dena Bank is an Indian …show more content…

FCNR Account can be opened only by NRI’s or by Person of Indian Origin (PIO)
2. FCNR Account can be opened only in the Foreign Currencies specified above and thus the currency fluctuation risk is eliminated
3. Regular interest is paid on the FCNR Account
4. Deposits with a maturity of more than 1 year and less than 5 years can only be opened
5. FCNR account can be opened jointly with other NRI’s as well as with Resident Indians
6. Nomination Facility is available and any NRI/PIO/Indian Resident can be made a nominee
7. Conversion to another designated currency is permitted at a cost to the account holder
8. Recurring Deposits are not accepted under this scheme
9. Loan Facility against FCNR Account can also be availed of. However, the Loans cannot be used for the purpose of re-lending, carrying on agricultural/plantation activities or for investment in Real Estate Business.

Advantage of FCNR Account:

 FCNR accounts are protected against FOREX rate risks as they are maintained in foreign currency.
 Interest earned on FCNR deposits in India is exempt from Income tax.
 IN FCNR accounts, both principal and interest are freely repatriable (Transferable from India to foreign country)

Disadvantage of FCNR

Show More
Related

  • Jp Morgan Robber Barons Essay

    794 Words  | 4 Pages

    While some industrialists were referred to as "captains of industry" due to their significant contributions to the growth and development of the American economy, ultimately, their actions and methods of acquiring wealth and power, such as their monopolistic practices and corruption/bribery, classify them as "robber barons" who prioritized their self-interests over the well-being of society and the economy. The manipulation of markets ultimately ruins the natural flow of the market and results in many advantages for very few already wealthy individuals. John Pierpont Morgan, better known as J.P. Morgan., was an extremely successful industrialist who eventually merged his business with his father's company to form J.P. Morgan and Company. Through

    Read More

  • Ashoka Dbq Essay

    297 Words  | 2 Pages

    Ashoka Around 2,000 years ago the people of India regained self-rule. The people of India like all countries, wanted their own design on their flag. They picked the Ashoka Chakra (BGE).

    Read More

  • What Are The Specific Reasons And General Principles Used In The Declaration Of Independence

    1283 Words  | 6 Pages

    What were the advantages and disadvantages faced by each army during the revolution? Between the Patriots and the Loyalists, they both had their advantages and disadvantages. For the Patriots, they consisted of a larger percentage of the colonies than the Loyalists. Some disadvantages for them were that they were not as wealthy as the Loyalists and they did not have as much military experience.

    Read More

  • Disadvantages Of The North And South During The Civil War

    1024 Words  | 5 Pages

    When it comes to advantages and disadvantages throughout the Civil War, the North and South had many politically, economically, socially, and military wise. Toward the start of the war the North had a more noteworthy advantage with the notion of Europe, blasting industries, and military supplies. However the South had a few advantages of already knowing the land and an aroused army. While Britain stayed nonpartisan between the Confederacy and the Union, the North had leverage once it declared emancipation.

    Read More

  • Second Bank Of America Research Paper

    837 Words  | 4 Pages

    What was The Second Bank of America? Why was it such a huge deal in American history? Who supported it, and who did not? Why did it fail? This essay will help explain the answer to each of these questions about the Second Bank of America, or how it was more commonly called, The Bank of the United States, and will inform you of what is used for today.

    Read More

  • Advantages And Disadvantages Of The South In The Civil War

    526 Words  | 3 Pages

    These are just a few of the many distinctions between these two warring nations. The first and most important advantage the north had was their heavy population. In total, the north outnumbered the south by more than 5 to 2. The north also had about 70% of all railroads in America under their control, and this allowed them to productively move soldiers and supplies rapidly around the nation. Instead of marching troops to the front line in months, generals could quickly deploy troops within days or weeks.

    Read More

  • Disadvantages Of African Americans In The Civil War

    331 Words  | 2 Pages

    The North had almost all of the advantages that you can put a number on. They had 71% of the total population of the country. This gave them more soldiers to fight with. They also had 81% of the bank deposits and 86% of the factories. This gave them more money (which is always an advantage), and more places to produce firearms.

    Read More

  • Jp Morgan Chase Bank Fraud Essay

    709 Words  | 3 Pages

    JPMorgan Chase Bank has faced several lawsuits in recent years. They have been hit with cases concerning fraudulent misrepresentation, bribery, and many things in between. By studying the accusations the company has faced, one receives a better understanding of who is really handling their money. An act of fraudulent misrepresentation cost JPMorgan the fine of a lifetime.

    Read More

  • Nuclear Medicine: Nt1310 Unit 9 Final Paper

    933 Words  | 4 Pages

    • Advantages 1. By using NM, doctors have higher chances of early detection of diseases and heath conditions which increase the percentage of healing (5 Advantages and Disadvantages of Nuclear Medicine, 2016). 2. Images that are produced by this system are detailed and accurate. Even the most sensitive parts are showen in great detail without any surgeries (5 Advantages and Disadvantages of Nuclear Medicine, 2016).

    Read More

  • Ashoka Dbq Essay

    327 Words  | 2 Pages

    Ashoka had many great strategies to claim land. Ashoka lived a royal because he ruled many people and had many great things. He had many violence wars that helped Ashoka out because he got lot’s of land and took lot’s of people for his army to fight. Was Ashoka a ruthless conqueror or enlightened ruler? Ashoka was an enlightened ruler because of two reasons: he out thinked the others and promoted a strong empire.

    Read More

  • Ashoka Dbq Essay

    344 Words  | 2 Pages

    Ashoka Maurya, commonly known as Ashoka and Ashoka The Great was an Indian emperor of the Mauryan Dynasty who ruled over most of the Indian subcontinent from 268 to 232 BCE. In about 260 BCE, Ashoka waged a bitterly destructive war against the state of Kalinga, although he was triumphant in the battle, the victory cost the lives of 200,000 people. (Document A) Soon after, he realized his mistakes and strived to spread pacifism and friendship throughout India.

    Read More

  • The Money By Junot Kake Analysis

    721 Words  | 3 Pages

    Mr. Junot Díaz’s paper titled “The Money” is a paper about the struggles of growing up as a Dominican, or less specifically an immigrant, in America. The paper offers a brief gimps into Mr. Díaz’s life as a young man, it shows his family structure and his neighborhood structure. It shows the type of people he had to deal with growing up and how he handled the way these people acted. The point of the text is to show how Mr. Díaz lived as a young man though one specific life experience.

    Read More

  • Sepia Apama Essay

    732 Words  | 3 Pages

    Australian Giant Cuttlefish are in the following taxons, being ordered largest to smallest, Animalia, Mollusca, Cephalopoda, Sepioloida,Sepiidae,Sepia, lastly Apama. Their scientific name is, Sepia apama coming from their genus and species. Sepia apama is found about 100 meters under water around the southern coasts of Australia and Tanzania, in the seagrass beds of these coastal waters. Sepia apama typically eat small like crabs organisms called, crustaceans, and small fish. Sepia apama has predators in its own environment and hides from predators in an unusual way.

    Read More

  • Essay On Importance Of Financial Management

    812 Words  | 4 Pages

    Financial management “is the operational and financing activity of a business that is responsible for obtaining and utilizing the funds necessary for effective operations. Thus, Financial Management is concerned with the effective funds management in the business process. Finance is interrelated functions which deals with marketing function, production function, Human Recourse function and Research & development activities of the business concern. Financial Management is concerned with the financing, acquisition and management of assets with some overall goal in minds. There are three major areas in Financial Management decision making.

    Read More

  • Saving Money Essay: How To Save Your Money

    1029 Words  | 5 Pages

    “How am I going to save my money if I can’t go a month without being short on cash?” Is this the question you ask yourself every now and then? Why is saving money that much difficult for you? Saving money needs a hell lot of self-control and self-control is challenging. Not only that, saving is a habit and habits take time and effort to form.

    Read More

More about Dena Bank Essay

Open Document