aspect of the banking industry is the provision of bank accounts. there are various types of bank accounts which can be opened in any public or private sector banks. this topic essentially forms a very important part of the financial and banking awareness section of the various bank exams. ...
Neobanks offer flexibility and ease of use that legacy traditional banks typically do not, or cannot offer. Legal regulations have not yet caught up to these new-age banks, the RBI “is cognizant of the benefits that neobanks bring to the table”. Latest Trends in Banking Banking has witn...
A savings bank account is a regular deposit account, where you earn a minimum rate of interest. Here, the number of transactions you can make each month is capped.Banks offer a variety ofSavings Accountsbased on the type of depositor, features of the product, age or purpose of holding the...
Payments and Small Banks Coming Soon: RBI Brings out Draft Guidelines on Two Types of Banks Which Are Meant for Achieving Financial Inclusion TargetsAb, Manju
While the minimum amount of RD differs from bank to bank, it can be as low as Rs. 1000. Banks typically pay an interest rate ranging from 4% to 7.5%. Like a Term Deposit, you get the principal amount and interest payable when the RD matures. You can also pause your RDs mid-term ...
As an NRI, you might come across numerous options and might have to choose between multiple products when it comes to deciding about your savings and investments. You can make an informed choice only when you are aware of the various options that are available to you. This will help you en...
The RBI has not specified any limit on withdrawals through bearer cheques. However, different banks may impose certain limits; hence, checking with your banker is crucial. 2. Is it safe to issue a bearer cheque for large payment amounts?
Central Bank Policies: The central bank sets key rates that influence the interest rates of Money Market instruments. This includes rates in the call Money Market, where banks lend to each other. Inflation Rates: If prices are rising quickly (high inflation), lenders of Money Market instruments...
Appointment of Auditors for NBFC As per the RBI Circular (Notification no. DoS.CO.ARG/SEC.01/08.91.001/2021-22); The appointment of statutory central auditors/statutory auditors of commercial banks, UCBs and NBFCs (including Housing Finance Companies) would be applicable for the financial year...
But Volcker pulled the economy out of the inflation, which laid a strong foundation for a stable economic future. It also paved the way for separating such policies from political inference. Most central banks, such as the US’s Federal Reserve (Fed), India’s RBI, European Central Bank (...