Commerce

NPCI is an initiative of the Reserve Bank of India and Indian Bank Association in order to promote the digital payment and settlement system of India at retail level.

The relationship between output and cost is expressed in terms of cost function. The companies use cost function to minimize cost and maximize production efficiently.

It accepts demand deposits under current deposits, and savings bank deposits from individuals, small businesses and other entities.
It issues ATM / Debit Cards. Payments banks, however, cannot issue credit cards.
It makes payments and remittance services through various channels including branches, Automated Teller Machines (ATMs), Business Correspondents (BCs) and mobile banking.
It also provides internet banking services to the users.
It accepts remittances to be sent to or receive remittances from multiple banks under a payment mechanism approved by RBI, such as RTGS / NEFT / IMPS.
It undertakes other non-risk sharing simple financial services activities, not requiring any commitment of its own funds, such as distribution of mutual fund units, insurance products, pension products, etc. with the prior approval of the RBI and after complying with the requirements of the sectoral regulator for such products.

Account Reconciliation is an accounting process used to ensure that transactions in a company’s financial records .

General insurance, also referred to as non-life insurance, is related to insurance of properties, assets, real estate, gazettes, automobiles etc.

Foreign investment refers to the investment made by the foreign individuals or corporations or government.

Accounting can be defined as the creation of financial information.

In IFRS 15 Revenue should be measured by the amount charged to the client for the sale of goods or services.

Money laundering is the process of converting the illegally earned money into legal money