Finance

The banking sector of India is huge. Along with the public banks, the top private banks of India contribute to the country’s economic growth and are the prime reason for the rapid development of the nation.

Banking - It is the backbone of any country and alleviates the economy’s growth, investments, trades, and finances, along with providing loans to individuals and businesses in need.

A salary account is very useful since the employer can directly credit the salary to this account. Not only this, the salary account is useful for various other purposes.

If you have an account with a bank, then you must know your account number. You must provide this detail for various processes such as closing an existing account, money transmission, linking to UPI, etc.

When you have a bank account, it is necessary to keep track of all the transactions that you are doing on your account.

The banking sector in India comprises public and private sector banks, with the public (government sector) being the industry's major players.

Checking your balance with banks is very easy nowadays. You can get to know your balance just by giving a missed call.

A Demat account, abbreviated form of dematerialized account is an electronic account used to hold and manage investments like stocks, mutual funds, bonds, etc.

Cheques might seem a bit old-school in this age of digital payments and UPI transactions.

When you default on a loan, banks and financial institutions are permitted to get back the money that you owe.

The rate at which you borrow or give money is called simple interest. The borrower pays back an additional amount of money to the lender on taking money from the lender.

In a significant move to restructure and redefine India's banking landscape, the government of India executed a series of mergers in 2021, consolidating 10 Public Sector Banks (PSUs) into 4 larger entities.

NPA or non-performing assets (NPA) are defined by the Reserve Bank of India as any advance or loan that is overdue for more than 90 days.

Indians use gold abundantly. It is not only a wise investment option but also a great fashion accessory and a status symbol.

In the world of finance, one of the fundamental principles is to "cut your coat according to your cloth.

"Save now, buy later" and "buy now, pay later" are two different approaches to managing finances and making purchases.

E-businesses are the future for every entrepreneur/business as they make trade possible across boundaries. Most businesses built their online presence during the lockdown because of the Covid-19 virus. Since then, the importance of having a digital presence is one of the priority agendas for all businesses.

ICEGATE (Indian Customs Electronic Commerce Electronic Data Interchange Gateway) is the one-stop shop for all international transactions attracting customs and other duty payments. Now the ICEGATE portal is revamped with new functionalities. Both the old and new websites of ICEGATE are now available in the public domain to enable users to move to the new portal smoothly.

Festivals are the time of the year when businesses also grow exponentially. Manufacturers, wholesalers, and retailers make use of this opportunity to bring more products with lots of offers.

Most banks lay down a condition that customers must maintain a minimum balance in their savings account. You can be penalized for not keeping the minimum balance. There is no limit on the penal charges that a bank will charge for the non-maintenance of the minimum balance.

Are you considering debt settlement for repayment of your dues? Ever heard of debt settlement where you pay a one-time sum to be freed of your debts? Does that sound too good to be true?