Personal Finance
Priority Sector Lending
Priority sector lending (PSL) is a type of lending targeted at borrowers from specific sectors that are considered to have high potential for default. The objective of PSL is to provide financial assistance to these sectors by offering loans at lower interest rates and with more flexible repayment terms. Eligibility Criteria: To be eligible for […]
Average Propensity To Consume
The average propensity to consume is a measure of how much a person spends money on goods and services relative to their income. It is calculated by dividing total spending on goods and services by total income. Formula: Average Propensity to Consume = Total Spending on Goods and Services / Total Income Interpretation: Factors Affecting […]
Sum Assured
The sum assured is the amount of money that is promised to be paid to the beneficiary in the event of the insured’s death. It is the primary amount of compensation paid to the beneficiary. Definition: Sum assured is the amount agreed upon between the insured and the insurance company at the time of policy […]
Real-time gross settlement (RTGS)
Real-time gross settlement (RTGS) is a payment system that allows for the transfer of funds between banks in real time, typically within a few seconds. This means that payments are processed immediately, rather than waiting for the next settlement cycle, which can take place daily or several times a week. Here are the key features […]
Unearned Premium
Unearned premium is a term used in accounting for insurance policies. It is the portion of premium paid for insurance coverage that is not yet earned by the insurer. Unearned premium is recorded as a liability on the insurer’s balance sheet. Here is an example: An insurance company receives payment for a policy on January […]
Runoff Insurance
Runoff insurance, also known as excess liability insurance, is a type of liability insurance that provides coverage for losses that occur after a policy’s primary liability limits have been exhausted. It typically applies to claims arising from a business’s operations or products that continue to cause harm after the policy has ended. Key Features of […]
Credit Default Swap (CDS)
A credit default swap (CDS) is a type of credit derivative that protects against the risk of default on a loan. How CDSs Work: Types of CDS: Uses of CDS: Key Features: Advantages: Disadvantages: FAQs
Collateral
Collateral is a tangible asset that is used as security for a loan or other debt. It can be, for example, a car, a house, or even a piece of land. Types of Collateral: How Collateral Works: When a loan is made, the borrower pledges collateral to the lender as security. If the borrower defaults […]
Merchant Discount Rate
Sure, here’s a breakdown of the Merchant Discount Rate (MDR): Definition:The Merchant Discount Rate (MDR) is a charge levied by payment processors on merchants for processing credit and debit card transactions. It’s incorporated into the overall cost of accepting cards, and varies based on the type of card, transaction volume, and other factors. Components:The MDR […]
Phishing
Definition: Phishing is a type of social engineering attack where a malicious actor tricks individuals into divulging sensitive information, such as passwords, emails, or financial details, by disguising themselves as a trusted entity. Types of Phishing: Methods: Prevention: Detection: FAQs
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