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Financial Terms

KYC

It helps in preventing fraud and financial crimes such as money laundering. The process involves collecting information about a customer's identity, occupation, and source of income.

KYC, or "Know Your Customer," is a crucial concept in the world of finance. It enables institutions to ensure the legitimacy of their customers and prevent potential financial crimes. By collecting details like identity, occupation, and source of income, KYC helps institutions stay vigilant and protect against fraud and money laundering. In other words, it's a necessary step towards maintaining the integrity and security of the financial industry.

Add-on Method

The concept of precomputing interest on a loan involves calculating the interest that will be accrued in advance and adding it to the principal balance. It is important to men...

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Rupee-cost Averaging

Rupee-cost averaging, a common term in the world of finance, is a strategy used to minimize losses in the share market. This involves investing a fixed amount of money at pr...

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Short-term Capital Gain / Loss

This is taxed at the ordinary income tax rate. When an investor sells a qualified investment before holding it for a full 12 months, it results in a Short-term Capital Gain...

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One-sided Market

A market in which the market makers are only able to offer a single price, instead of both the asking and the bid prices, is referred to as a One-sided Market or a One-way M...

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