Line of Credit (LOC)

Definition: A line of credit (LOC) is a unique and flexible borrowing method offered by banks and other financial intermediaries to individuals, business firms, and governments. It is similar to a credit card because it allows the user to avail of a limited amount whenever needed and for whatever reason. This limited amount is referred … Read more

Retail Banking

Definition: Retail banking is a financial segment that caters the requirements of individuals as customers, majorly comprising of the low-income groups of the society. It facilitates the common people to make deposits, avail credit and get their funds managed systematically. Personal banking deals in a huge volume of financial transactions although these are of small … Read more

Virtual Banking

Definition: Virtual banking is a financial setup that provides numerous retail and corporate banking services through a wireless network using an electronic device. The customers need not be physically present at the concerned bank’s branch to carry out a transaction. For instance, a company employing around 50 personnel disburses salary in their accounts on the … Read more