⭐ How to Extend a Bank Guarantee (Complete process ) 1️⃣ Beneficiary Requests Extension (If Applicable) Sometimes the beneficiary (the party in whose favour BG is issued) will ask for extension.They send a formal extension request letter to the applicant (your company). 2️⃣ Applicant Requests Their Bank to Extend the Read more
Bank Guarantee:A Complete Process for Students, Entrepreneurs & Banking Awareness Readers. (Only for educational purpose) What is a Bank Guarantee (Meaning)Definition:A Bank Guarantee is a legal promise issued by a bank assuring that the bank will pay a specified amount of money to a third party (beneficiary) if the bank’s Read more
Banking is one of the most respected and rapidly growing sectors that plays a crucial role in the country’s economy by managing money, offering loans, investments, and other financial services to individuals and businesses. A career in banking not only ensures job stability and a good income but also provides Read more
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बँकांमध्ये KYC (Know Your Customer) ही ग्राहकाची ओळख, पत्ता आणि व्यवहाराचा प्रकार तपासण्याची अनिवार्य प्रक्रिया आहे. याचा उद्देश काळा पैसा आणि आर्थिक फसवणूक रोखणे, दहशतवादी निधी प्रतिबंधित करणे आणि बँकिंग प्रणालीचा गैरवापर टाळणे हा आहे. PMLA, 2002 आणि RBI च्या KYC मार्गदर्शक सूचनांनुसार ही प्रक्रिया बँकांसाठी अनिवार्य आहे. KYC चे Read more
BanksKYC (Know Your Customer) is a mandatory process through which banks verify the identity, address, and nature of their customers before allowing them to open or operate an account. The main objective of KYC is to prevent money laundering, financial fraud, and the misuse of banking systems. It helps banks Read more