Terms Starting with "N"

7 terms found

NACH

National Automated Clearing House — a centralised payment system operated by NPCI that facilitates bulk electronic payments and collections.

National Electronic Funds Transfer — a centralised, nation-wide payment system operated by the Reserve Bank of India that facilitates one-to-one…

A supply carrying a 0% GST rate with no tax levied and generally no input credit.

A discount or reward given by the insurer on the renewal premium if the policyholder does not make a claim during the previous policy year.

No Objection Certificate — a document issued by a lender confirming that the borrower has no outstanding dues on a loan.

National Payments Corporation of India — the umbrella organisation for all retail payment systems in India, owned by a consortium of major banks.

Non-Resident Indian — an Indian citizen or person of Indian origin who resides outside India for purposes of employment, business, or other…