by Vidya Kumar | Aug 9, 2021 | Banking, Money, Uncategorized
What is Positive Pay System? ‘Positive Pay’ system is a new ruling implemented by RBI. It is a measure to protect cheque-based transactions from fraud. Under this system, re-confirmation of key details may be needed for cheque-based transactions amounting to more...
by Vidya Kumar | Mar 18, 2020 | Banking, savings, Vidya Kumar
Summary: Recent events related to PMC Bank and Yes Bank have shown that our money is not entirely safe in banks. Unfortunately, the insurance cover for depositors is not enough to cover every individual’s entire deposit. Depositors therefore have to take...
by Vidya Kumar | May 16, 2019 | Banking, Vidya Kumar
Executive Summary: Basic Savings Bank Deposit accounts are regular savings bank accounts that offer flexibility in terms of minimum balance. There are some restrictions on the number of transactions, balance limit and amount that can be withdrawn. We have...
by Vidya Kumar | Mar 19, 2019 | Banking, Vidya Kumar
Executive Summary: Banks have to offer Doorstep banking to senior citizens (above 70 years of age), differently abled people and people with chronic illness as per an RBI directive. Many banks are offering these services. Check out the services offered by ICICI Bank,...
by Vidya Kumar | Nov 9, 2017 | Banking, Vidya Kumar
Executive Summary: Virtual Cards can be credit cards or prepaid cards. They can be used for online monetary transactions in India or globally. We compare the features of HDFC Bank NetSafe Card, Entropay Virtual Visa Card, Netc@rd by Kotak Mahindra Bank, Oxigen Wallet...
by Vidya Kumar | Sep 28, 2016 | Banking, Vidya Kumar
Executive Summary – Unified Payments Interface (UPI) has been launched to facilitate transfer of funds between persons/organisations via smartphones. You do not need cash/card for money transactions. Once you download the UPI app and register, you can receive...
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