PMC Bank Crisis : Everything You Should Know As An Account Holder
On 23rd September, the Reserve Bank of India (RBI) imposed strict restrictions on the Mumbai based, Punjab and Maharashtra Cooperative Bank (PMC). As per the latest RBI circular, PMC Bank has been barred from carrying out a majority of its routine business transactions for 6 months. The restrictions, extend to both lending and withdrawals, meaning a customer […]
Personal Loans in India 2019: Benefits, Process, Features and More
Personal loans are available to both salaried and self-employed borrowers and are meant to meet personal and private expenses in times of emergency. These loans are unsecured and are not covered by any security. Due to the absence of security, these loans bear a high rate of interest when compared to other types of borrowing […]
Are E-Wallets Replacing The Actual Wallet?
E-Wallets have become a part of our day to day life. It has made our life easier by offering so many services under one platform. If we want to transfer money to someone, we open don’t open our physical wallet anymore, we open our e-wallet and transfer money instantly! This is just one of the […]
Best Savings Bank Accounts You Can Consider Opening In 2019
Savings account is something which almost all of us have in a public or private sector bank. Savings account give us interest on our deposit, kept in the account. Along with that they also provide additional features of online money transfer, debit card, cheque book, and monthly account statement. Previously, we had to visit the […]
How are Indian Banks Moving Towards a Digital Revolution?
The Indian banking industry has become an example for the pace at which it is growing over the past decade or so. The requirement to introduce computers was felt in the Indian banking sector in the 1980s, in order to provide better services to the customers and improve bookkeeping. A committee was then set up […]
Innovate or Die – Truth about the Banking Industry
More than 134 banks (inclusive of private, public and also international) exist in India. In 2016, there were 1,38,850 commercial bank branches, signaling a commercial bank branch is serving almost 1000 people round the year. This leads to an important inference that citizens are flooded with many banking opportunities. Even NBFCs (Non-Banking Financial Companies e.g. Bajaj […]
Everything You Need to Know About Fixed Deposits (But Don’t)!
Everyone loves money, isn’t it? However, only a handful of them turns into billionaires and millionaires overnight while others adopt a conventional way of saving and earning money. Decades ago, only a handful of avenues were available to people who wanted to save/invest money. Gone are those days and today, you have a plethora of […]
Do Small Commercial Banks Offer Higher Interest Rates Than Commercial Banks?
Investors have started showing interest in fixed deposits because of the rising interest rates. Small finance banks are offering better interest rates than commercial banks. Au Small Finance Bank, Jana Small Finance bank, Capital Small Finance Bank, Fincare Small Finance Bank, Equitas Small Finance Bank, ESAF Small Finance Bank, Suryoday Small Finance Bank, Ujjivan Small […]
Impact of Commercial Banks in the Economy
Banks have always played a crucial role in the overall growth and development of any country. They play a decisive role and fuels the growth of any economy. Be it any sector, the entire fate of trade and commerce is dependent on the banking industry, and thus banks are regarded as the backbone of any […]
How to Start Fixed Deposit and Best Fixed Deposit Interest Rates-2019
A fixed deposit has remained one of the standard investment instruments in every Indian household. Fixed deposit as an investment instrument is offered by nearly all banks and many corporate houses. An individual can deposit any amount for any duration. In this blog, we seek to discuss the basics surrounding the fixed deposit highlight advantages, […]
5 Characteristics of a Successful Digital Bank
We are in an era where everything can be purchased with the help of a mobile phone. Soon, a day will come with the help of a hi-tech wearable device, all you will need to do is say or think and you will be able to see options in front of you in a virtual […]
How Does CRISIL Rating Affect Your Fixed Deposit?
Off-late, the interest rate has started moving north, and thus investors are scouting for corporate deposits that provide the best interest rate and come with the highest degree of safety. But how you do get the safety of such deposits? For this you have, rating agencies like CRISIL, ICRA, and CARE Ratings to provide an […]
The Evolution of Banking in India
Our banking system is divided into commercial banks (public and private banks), Regional Rural Banks, Cooperative Banks, etc. One of the key events that marked the evolution of the Indian banking sector is the nationalization of banks. The event made way for the Indian economy to get a global position among the top ten economies […]
Why are Indians Obsessed with Fixed Deposits?
“Beta, ek FD karlo” If you are an Indian, you have probably heard this phrase a number of times. But has any of us tried to introspect, why Indians are OBSESSED with fixed deposits? In India, when it comes to investments or saving, over a quarter of households prefer fixed deposits over any other thing and […]
10 Digital Banking features you need to know about
Technology has caused the biggest shift in the banking sector in hundreds of years, changing the way that banks engage with customers and even with each other. The shape of established retail banks especially is changing, spurred by the challenge from fast, focused digital new entrants who are chipping away at revenue streams. If you […]