Everything you want is a Click Away... Remember those Pop Ups asking us to purchase an insurance policy online... We Are The Best Financial Products Available Online And We Know How To Serve You Best ... Protection Of Your Loved Ones Just A Click Away… Remember that Dream house you wanted to Purchase? We have heard the phrase" Knock And The Door Will Be Opened " Doesn’t purchase of ...
FAQs on the Banking Ombudsman Scheme 1. What is the Banking Ombudsman Scheme? The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995. 2. Who is a B...
Direct Taxes 5% surcharge on domestic companies whose income exceeds Rs 1 crore 10 % surcharge on domestic companies whose income exceeds Rs 10 crores Surcharge on Dividend Distribution Tax (DDT) increased from 5 % to 10% Securities Transaction Tax (STT) rates cut on equity futures to 0.01% and for Mutual Funds to 0.001 % Commodities transaction tax (CTT) levied on non-agriculture comm...
Electronic banking (or net banking) refers to an application of the Internet that allows customers to dial into bank networks or their websites, by using their own telephones and computers, and to get a host of banking services directly on their home or office PCs. Net banking offers the customer easy chair convenience and access to their account information from anywhere in the world, at any ti...
The process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making. Essentially, risk management occurs anytime an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action (or inaction) given their investment objectives and risk tolerance. Inadequate risk manage...
Current account is an account with minimum amount of boundaries. Most individuals do not need this account, one need this account only if he makes a number of deposits and withdrawals in a single day and many of the deposits are drawn on outstation banks. Banks accept deposits in current account and allow unlimited withdrawals subject to a minimum balance. This minimum balance differs from Bank ...
A credit card is a card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services. The issuer of the card grants a line of credit to the consumer from which the user can borrow money for payment to a merchant or as a cash advance the user. Most credit cards are issued by local banks or credit unions and are the shape and size specified by th...
As the name denotes, this account is perfect for parking your temporary savings. These accounts are one of the most popular deposits for individual accounts. These accounts provide cheque facility and a lot of flexibility for deposits and withdrawal of funds from the account. Most of the banks have rules for the maximum number of withdrawals in a period and the maximum amount of withdrawal, but ...
Did You know? Bank of Bengal, Bank of Bombay and Bank of Madras merged to form the Imperial Bank of India, which was named as State Bank of India Post Independence. Allahabad Bank was established in 1865 and it is the oldest Joint Stock Bank in India. Reserve Bank of India was nationalised in 1948 , it became a Government owned Institution In 1948 the Banking Regulation Act was enacted a...
The word merchant bank does not have a fixed definition as this term is used differently in different countries. In United States these are called as “Investment Banks” and in UK they are called as “accepting and issuing houses”. The notification of Ministry Of Finance in India defines Merchant Banker as “any person who is engaged in the business of issue management...
Inter Bank Transfer is a special service that allows you to transfer funds electronically from one bank account to accounts in other banks in India. In order to transfer money across accounts you don’t have to use a cheque or cash. Earlier we used to withdraw money from one bank and then deposit in another bank branch by going there, it is a time consuming process. But after the introducti...
RBI didn’t bring any changes in the key policy rates. By considering the economic recovery from the global downturn, it kept its short-term rates and cash reserve requirement unchanged. The RBI said it would continue with a policy of easy money while the outlook remained uncertain, reassuring a bond market that must absorb a record 4.51 trillion rupees ($94 billion) in government borrowing...
Interest Interest plays a very important part in investments. Money is being lent or borrowed by individuals, banks or other financial institutions for a consideration known as interest. Where, P= amount give to borrower, also called principal amount. R=Interest earned on amount P and also known as charges. The rate of interest is also decided between them. Interest is charged because of the t...
Many people invest without effectively learning about the investment process or the different investment products and without considering what they really want to achieve over a long period of time. These classes of investors often react to the short-term fluctuations of the markets. By listening to the advice of self-proclaimed gurus they will buy “stocks” at exactly the wrong time,...
Looking to Control Your Finances...!!! MasterCard Shows How Via Six Simple and Smart Tips Traditionally, spending within your means is the best way to manage your finances and remain financially healthy. By understanding some of the fundamental principles about credit and banking, you will be able to make better, more informed financial decisions. You will also be in a better position to plan yo...
DHANAX - MAKE A DIFFERENCE Ever wondered what ‘good banking’ is all about. Why the banks which have defined the banking industry for over decades are crumbling most easily. And why the mortgage banks are leading the financial mess the world finds it in. Actor Bob Hope once said famously ‘banks give loans to people who can prove they do not need it’. The bankers are obses...
The government generates revenue in the form of taxes and revenue from ownership of assets. Besides these, it borrows extensively from banks, financial institutions and the public to finance its expenses in surplus of its revenues. One of the significant sources of borrowing funds is the government securities market (GSM). The government rises short term and long term funds by issuing securities...
A share certificate is a certificate issued by the company stating that the person named therein is the registered holder of particular number of shares of a certain class and they are paid up upto the amount specified in the share certificate. The share certificate must bear the common seal of the company and also must be stamped under the proper stamp act. One or more directors should sign it;...
Market regulator Security Exchange Board of India recently notified new rules for foreign investments through financial instruments such as participatory notes, asking FIIs to wind up P-Notes for investing in derivatives within 18 months.SEBI also commanding curbs on P-Notes for investing in spot market. In derivatives, foreign institutional investors (FIIs) and their sub-accounts cannot issue f...
Factors affecting the acceptance of proposal by bank : Bank’s Documentation. Security value. Realizable sale value. Bank’s ability to sell. Ability & Source of the borrower. Ability & Source of the guarantor. Vulnerability of the borrower/guarantor. Time frame. Strength and Zeal of bank's field staff. What message is bank sending out? (No in a fraud case.) Banks...
