PDD Full Form in Banking: Meaning and Definition
PDD full form in banking is Post Disbursement Documents. These are the documents that a borrower must submit to the bank or lender after the loan amount has already been…
LOD Full Form in Banking: Meaning and Definition
LOD full form in banking is List of Documents. It is a formal list or acknowledgement showing the documents submitted by a borrower to the bank, especially in home loans,…
SB Full Form in Banking: Meaning and Definition
SB full form in banking is Savings Bank. It usually refers to a Savings Bank Account, which is a deposit account mainly used by individuals to keep money safely, receive…
Advantages and Disadvantages of Sole Trading
A sole trading business is one of the simplest ways to start a business. One person starts it, owns it, manages it, takes the profit, and also carries the risk.…
Is It Legal for NBFCs to Call Relatives for Loan Recovery?
An NBFC may contact a borrower’s relatives in limited circumstances, but it cannot harass, threaten, shame, or repeatedly contact relatives to recover the borrower’s loan. The Reserve Bank of India…
CKYCRR Full Form in Banking: Meaning and Definition
CKYCRR full form in banking is Central KYC Records Registry. It is a centralized digital repository where KYC records of customers in the financial sector are stored, protected, and retrieved…
CAM Full Form in Banking: Meaning and Definition
CAM full form in banking is Credit Appraisal Memorandum. It is an internal loan evaluation document prepared by banks and financial institutions before approving a credit proposal. In simple words,…
Is It Legal for Banks to Share CIBIL Data Without Permission?
Yes, banks can legally share certain credit information with CIBIL without obtaining separate permission every time they report it. In India, reporting credit information to authorised Credit Information Companies (CICs)…
ARC Full Form in Banking: Meaning and Definition
ARC full form in banking is Asset Reconstruction Company. It is a specialized financial institution that buys bad loans or stressed loans from banks and financial institutions, then tries to…
Is It Legal to Open a Bank Account Without Aadhaar in India?
Yes, it is generally legal to open a bank account in India without Aadhaar. Aadhaar is an important identity document, but it is not the only document that can be…