Holder: Holder means any person entitled in his own name to the possession of the cheque, bill of exchange or promissory note and who is entitled to receive or recover the amount due on it from the parties. Eg., if i give a cheque to my friend to withdraw money from my bank, he becomes holder of that cheque. Even if he loses the cheque, he continues to be holder. Finder of the cheque cannot become the holder.
Holder in due courses: A person who receives a Negotiable instrument for value, before it was due and in good faith, without notice of any defect in it, is called the holder in due courses as per Negotiable Instrument Act. In the earlier example if my friend lends some money to me on the basis of the cheque, which I have given to him for encashment, he becomes holder-in-due course.
Banking: Accepting for the purpose of lending or investment of deposits of money from Public, Repayable on demand or otherwise and withdrawable by cheques, drafts, order, etc.
International Banking: International Banking involves more than two nations or countries. If an Indian Bank has branches in different countries or has correspondent arrangements, it is said to be doing International Banking.
Universal Banking: When Banks and Financial Institutions are allowed to undertake all types of activities related to banking like acceptance of deposits granting of advances, investment, issue of credit cards, project finance, venture capital finance, foreign exchange business, insurance etc. It is called Universal Banking.
Wholesale Banking: Wholesale banking is different from Retail Banking as its focus is on providing for financial needs of industry and institutional clients.
Mobile Banking: with the help of M- Banking or mobile banking customer can check his/her bank balance, order a demand draft, stop payment of a cheque, request for a cheque book, transfer of funds, mobile recharge and top up and have information about latest interest rate.
Kiosk Banking: Doing banking from a cubicle from which food, newspaper, tickets etc. are also sold.
Anytime banking: With introduction of ATM's, Tele-Banking, internet banking and Mobile Banking, customers can conducts their business any time of the day and night. The 'Banking Hours' is not a constraint for transacting banking business.
Merchant Banking: When a bank provides to a customer various types of financial services like accepting bills arising out of trade, arranging and providing underwriting, new issues, providing advise, information or assistance on starting new business, acquisitions, mergers and foreign exchange.
Online Banking: Banking through internet site of the bank which is made interactive.
Virtual Banking: Virtual banking is also called internet banking, through which financial and banking services are accessed via internet's world wide web. it is called virtual banking because an internet banking has no boundaries off brick and mortar and it exists only on the internet.
Joint A/c: When two or more individual open an a/c with a bank, to be operated jointly.