Chapter Sixteen
1. INFINET stands for Indian Financial Network—the communication backbone for the Indian banking and financial sector. All banks and financial institutions are members of the INFINET, which functions as a closed user group.
2. Most money exists not as cash but as notations in the ledgers of depository institutions (banks and other financial institutions). Debiting one party's account and crediting another party's account execute notational money transactions. Banks must be prepared to convert notational demand deposits into cash on demand by the customer.
3. Please refer to chapter ‘Monetary Policy Implications for Bank Management’ for a discussion on ‘reserve requirements’.
4. Core banking applications help provide complete ...
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