Popular News Based on Banking
NEER stands for Nominal Effective Exchange Rate. As per RBI, Effective exchange rates (EER) serve as a gauge for assessing the fair value of a currency, and the external competitiveness of an economy and even serve as guideposts for setting monetary and financial conditions.With the help of EERs, the exchange rates between multiple countries are calculated. For eg. $1 = ₹78What...
EMI Stands for Equated Monthly Payment.An equated monthly installment (EMI) is a fixed monthly payment made by a borrower to a creditor on a predetermined date. Each month, EMI is composed of a principal sum and an interest amount that a borrower must pay back over a set number of years in order to fully repay the loan. EMI is...
LIC Stands for Life Insurance Corporation of India.LIC was established in 1956. It is a government-owned insurance and investment company based under the Life Insurance Act of India, wherein over 245 insurance companies and provident societies were merged and nationalized and placed under the administration of the Government. Its headquarters is in Mumbai, India.Their objective is:Spread awareness about insurance and provide...
GDP is Gross Domestic Product. It is the market value of all the goods and services produced within the country in a particular time period. In GDP gross means "total", domestic means "within the political boundaries of the country" and product means "all the goods and services produced in a year". Use of GDP:GDP determines the size and growth rate of...
AR means Augmented Reality. Augmented reality augments the user's perception of a naturally existing world around them. It is a technology that enhances people's experience in a physical environment by superimposing or augmenting the digital information on it. It is a highly interactive method in real time since it is a combination of both the physical and the digital worlds....
SHGs stand for Self-Help Groups. These groups are the associations formed by 15-20 people who come together from similar social and economic backgrounds. Most of the SHGs are found in India where people of age groups 18 years to 50 years form a small committee. Hence, the ideal size of Self-Help Groups is between 15 to 20 people and the...
DD stands for Demand Draft. Demand Draft is one of the financial instruments that is used to make payments easier. Sometimes Demand Draft and Cheque are taken as similar things however there are a variety of facts that makes them apart. Unlike cheques, DD is a prepaid instrument means DD is issued after taking the amount that's why it is...
RPA stands for Robotic Process Automation, a term for the use of robotics software to automate routine office tasks that would otherwise be done by human employees. It utilizes automation technology to replicate the regular office processes performed by human employees, such as data extraction, form completion, file movement, etc. To connect and carry out repetitive operations across corporate and...
NGOs are Non-governmental organizations that were initially referred to as such in Article 71 of the 1945 Charter of the newly established United Nations. While NGOs do not have a set or official definition, they are typically thought of as nonprofit organizations that are independent of political influence. NGOs engage in a variety of activities, such as human rights, social,...
Relational Database Management System is known as RDBMS. This system was introduced by Edgar Frank "Ted" Codd in the year 1970. RDBMS is the implementation of a Database Management System (DBMS) along with a Structured Query Language (SQL) program interface and its integration with the relational data model. It's a DBMS where the database is retrieved and arranged in accordance with the associations between data...