a retired professional or Indian living abroad, not having a bank account is unimaginable. Based on the purpose, frequency of transaction, and location of the account-holder, banks offer abouquet of bank accounts to choose from. Here is a list of some of thetypes of bank accounts in India...
banks offer a wide variety of accounts to fit the many needs of their customers, e.g. Savings, Current, BSBDA, Fixed and Recurring Deposits, and NRI Accounts. Each account has its own unique characteristics, and specific requirements – from facilities offered to balance maintenance and so on...
You can have other NRIs or Resident Indian as joint account holders in NRO Accounts. In case Resident Indian is added as Joint holder the mode of operation will be 'Former or Survivor', FCNR Account Foreign Currency Non -Resident Accounts have to be opened and ...
Even if you are an NRI (Non-Resident Indian), the bank has got your needs covered. NRIs often have earnings both abroad and in their home countries, so an NRI account allows them to transfer funds or repatriate money. Plus, opening this type of bank account is very convenient. You don...
Banks and other financial institutions play a very important role in the economy. There are two kinds of banks: retail and investment banks. Let’s discuss the Indian banking system, its types, functions and how banking helps businesses. ...
(1) “Banking is the business of accepting for the purpose of lending or investment, of deposits of money from the public repayable on demand or otherwise and withdraw-able by cheque, draft, and order or otherwise.” Indian Banking Regulation Act, 1949 ...
If you’re looking for a medium- to long-term investment in the Indian bond market, a Public Sector Undertaking bond can be a good choice. PSUs are issued and backed by the government of India, but they’re usually sold on a private basis. In other words, the Indian government targets...
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. ...
Minority small business owners sometimes have trouble getting access to traditional bank loans. A 2021 report found that 71% of white-owned companies who applied for PPP loans through large banks received all the funding they requested, while only 41% of Black-owned companies received the full fu...
The concept of Savings Account is simple. It is an account with a bank of your choice, where you can deposit a part of your income as savings. There are, however, different types of Savings Accounts. Usually, these are simple variants of the main idea. Most banks have similar variants,...