Real-Time Gross Settlement (RTGS)

Definition: RTGS, is a short form for Real-Time Gross Settlement. It is a facility provided by the banks, that allows instant and complete settlement of funds from one bank to another and from one place to another, on an individual order basis. This means that the transactions are settled at the same time when they…

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E-banking

Definition: E-banking is a blanket term used to indicate a process through which a customer is allowed to carry out, personal or commercial banking transactions using electronic and telecommunication network. It is a product offered by banks which facilitates online banking, with the help of which the customer can have access to the bank account…

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Visual Communication

Definition: Visual Communication, as the name suggests, is the graphical representation of a message by one party to convey something to another. It involves transmission and interpretation of information by way of visual resources, that can be read or viewed. In layman terms, visual communication is one which is purely based on vision, i.e. eyesight.…

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Bookkeeping

Definition: Bookkeeping can be defined as the system of keeping records and classifying all the financial transactions on a day-to-day basis concerning the business operations, in a sequential manner. The term “transaction” refers to the business activity, in which the exchange of money or money’s worth for goods or services is involved. It is the…

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Commerce

Definition: Commerce refers to the well organized set up of large-scale interchange of products, service or something of value, for money or money’s worth, among the economic agents. It covers all the activities which directly or indirectly assist in the process of exchange. Basically, it is concerned with the distribution aspect of the business. It…

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Corporate Social Responsibility

Definition: Corporate Social Responsibility, or otherwise called as CSR is an on-going commitment of the organization to act in an ethical manner and make a contribution in the country’s economic development, while bettering the standard of living of the employees and their families, along with the society and public at large. It refers to the…

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Organizational Behaviour

Definition: The term “organizational behaviour” can be defined as the scientific study and practical application of knowledge concerning the way in which individuals and groups of individuals, act and behave within an organization, in which they work. The study also includes the interaction between members of the organization and the external environment. Further, the information…

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Group Dynamics

Definition: Group Dynamics can be understood as a process, wherein the attitude and behaviour of a member influence the behaviour of another or other members of the group, either by choice or circumstances. Factors such as individual personality, cultural traditions and social situations, often affect the group dynamics. It has the ability to change each…

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Organizational Culture

Definition: Organizational culture, as the name suggests is the culture inherent in the organization, which determines its internal atmosphere and the overall personality. It refers to a pattern of accepted and learned behaviour, which are mutually shared and are taught to the new joiners as to how to perceive, think and behave in the organization.…

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Consignment

Definition: Consignment implies a trading arrangement, wherein one party transfers goods to another party without immediate payment, who agrees for selling them on behalf and at the risk of the former, as per the instructions, to the customers, for a commission as a percentage of revenue from the sale proceeds. Consignment is opted when the…

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