Category Archives: Personal Banking

Tips to protect against On line Fraud and Phishing Variations

For safer online transactions the first thing we have to learn is that to be suspicious of anything that comes to your inbox. Sometimes, we check the Spam mails and suddenly there could have been any mail containing which demands sharing of information about your bank accounts, and even passwords and other financial transactions indications. […]

Basel Committee guidelines on back testing and stress testing

Basel Capital Accord OF 2003 released by the Basel Committee on Banking Supervision (BCBS) envisages a three-pillar approach to risk management under which the first pillar signifies total minimum capital requirement for credit, market and operational risks. To determine the minimum capital requirement for an approach, subject to certain minimum conditions and disclosure requirement may […]

Basic Safeguards in the conduct of Forex business

Handling forex business has become simpler and easier with the use of latest technology and significant liberalisation in the rules, regulations and procedures under the FEMA regime. Against the above backdrop, the responsibility of the banks has increased many fold and the principle of “Know Your Customer” has assumed critical importance. Money laundering is one […]

Know Your Customer (KYC) guidelines for non-banking financial Institutions (NBFCs)

Banks are advised to constitute an ad hock committee to undertake procedures and performance audit on public services rendered by them. The uniform margin to be applied on all advances against shares/financing of initial public offerings/issues of guarantees raised from 40 percent to 50m percent.  Banks are advised to constitute a Special Committee to monitor […]

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