MIS full form in banking is a Management Information System, a group of jointed procedures that produces and collects relevant, reliable, and adequately organized information that supports a firm’s decision-making process. In simple words, MIS is a combination of a number of processes through which data is sorted, obtained, and displayed effectively to make the decision easy.
To summarize, it is a person, computerized technology, and relationship analysis. Firms use MIS experts to calculate the benefits of investing in people, procedures, and facilities. Further, it is only used at a considerable level to plan other data and customer data.
The role of MIS in the banking sector is to collect information from various sources to terminate and analyze future corporate policy.
Another abbreviation of MIS
MIS refers to a monthly income scheme suitable for all those investors who want to receive a fixed income on a regular basis with guaranteed outcomes at a specific monthly interest rate.
What is the eligibility for the Monthly Income Scheme?
- By an individual in their name
- By more than one investor in their joint names with ideal repayment guidelines
- On behalf of a minor by an investor’s guardian or by a guardian hired by the court.