Indian Banking System Guide

A Guide On The Indian Banking Ecosystem And How It Functions In India

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What Is Net Banking? Features And Advantages Of Internet Banking
Banking

What Is Net Banking? Features And Advantages Of Internet Banking

 Banking services are evolving faster than ever in the digital age. In a country like India, where precious hours used t... Read More »
What Is A Business Account And Why Is It Necessary For Every Business Owner?
Banking

What Is A Business Account And Why Is It Necessary For Every Business Owner?

 If you are running a business, you should have a business account for seamless tracking of cash outgo and inflow. A mus... Read More »
What is Mobile Banking and What are the Types of Services Offered?
Banking

What is Mobile Banking and What are the Types of Services Offered?

 Mobile banking has made personal banking services more accessible and convenient. Over the past few years, banks and NB... Read More »
What is Retail Banking: Types, Services and Benefits
Banking

What is Retail Banking: Types, Services and Benefits

 Retail banking is the services a financial institution provides to its consumers who are not financial organisations. B... Read More »
IFSC Code: Key Features, Format and How to Find IFSC Code
Banking

IFSC Code: Key Features, Format and How to Find IFSC Code

 While adding a new beneficiary on your netbanking account to transfer money, other than beneficiary account details, ba... Read More »
promissory notes
Banking

Promissory Note: What it is, Features, Types and Format

 Promissory notes are the go-to instrument used by financial institutions to keep a clear and legall... Read More »
Beneficiary
Banking

What is Beneficiary in Banking, Its Importance and How to Assign One?

 Having a plan to tackle unforeseen emergencies affecting your family's financial stability is highl... Read More »
Collateral Free Loans
Banking

Collateral Free Loans – Features, Benefits, Interest Rates and Eligibility

 Any loan that you can avail of without pledging collateral is known as collateral-free or unsecured... Read More »
Credit Card Settlement
Banking

What is Credit Card Settlement and Should You Opt for it?

 Credit cards let you spend money that is not yours, with an obligation to repay the credit. Inciden... Read More »
Debt to GDP Ratio
Banking

Debt to GDP Ratio Formula and Calculation Explained

 Debt to GDP ratio is the ratio between how much a country owes and how much it produces to pay off ... Read More »
Cibil Score
Banking

CIBIL Score Range – Understanding Your Creditworthiness

 CIBIL score or credit score speaks volumes about your credit history. Having a clear idea about a g... Read More »
Branch Accounting
Banking

What is Branch Accounting – How Does it Work & Why is it Important

 Multinational companies maintain operations in different countries. They have branch offices and su... Read More »
Bank Reconciliation Statement
Banking

What is a Bank Reconciliation Statement – Format, Rules & How to Prepare It

 Businesses use cash books to keep track of bank and cash transactions. The transactions in a cash b... Read More »
Devaluation
Banking

What is Currency Devaluation? Why Do Some Countries Devalue their Currencies?

 Devaluation, in simple terms, is when a country deliberately reduces the value of its currency. His... Read More »
Bookkeeping
Banking

What is Bookkeeping and Why is it Important? How to Set It up for Business?

 Bookkeeping is probably the first and most crucial phase in the accounting process. A bookkeeper co... Read More »
Dormant Account
Banking

Dormant Account: Meaning and How to Reactivate Your Account Explained

 One of the rules of maintaining a savings or current account is that you need to keep your account ... Read More »
Prime Lending Rate
Banking

Prime Lending Rate, MCLR, RBI Base Rate Impact on Loans Explained

 Prime Lending Rate, MCLR (Marginal Cost of Funds-based Lending Rate) and RBI Base Rate are three in... Read More »
Contactless Debit Cards
Banking

What are Contactless Debit Cards and How to Use Them?

 Debit cards have made daily transactions very convenient. As per RBI, transactions below Rs.5000 ca... Read More »
Banking

What is No Cost EMI and How Does it Work?

 For the past few years or so, especially during pandemic and the post-pandemic world, there has bee... Read More »
Fractional Reserve Banking
Banking

Fractional Reserve Banking: Definition, Benefits and Drawbacks with Examples

 Fractional Reserve Banking is a banking system where banks are obliged to hold a certain portion of... Read More »
Bank Guarantee
Banking

Bank Guarantee – Types, Working and Advantages Explained

 Bank guarantee means that the bank would have your back in case you fail to settle a debt. To be mo... Read More »
Demand Deposit
Banking

What is a Demand Deposit Account and How Does It Work?

 Customers often get confused about the terms - demand deposits and demand deposit account (DDA). De... Read More »
Accounting Cycle
Banking

Accounting Cycle – Benefits, Limitations, Working with 5 Important Steps 

 Businesses balance their books by analysing, identifying and sorting their accounting activities. T... Read More »
Banking

What is a Deceased Account and How to Close the Account?

 A deceased account is a bank account of a person who has passed away. On receiving the notice of th... Read More »
Banking

What is Debt Restructuring and How Does it Work?

 There may arise situations when companies face a cash crunch. In such a situation, it becomes diffi... Read More »
Banking

Point of Sale (POS) System – Features, Benefits & mPOS

 An efficient Point Of Sale (POS) system ensures all your business operations are carried out effect... Read More »
Banking

What is Bank Secrecy Act (BSA) and Its Importance in Record Keeping

 The financial industry is one of the most regulated industries across nations, especially in the US... Read More »
Banking

How to Change Credit Card PIN: A Definitive Guide

 Did you just get a new credit card that requires you to generate a new PIN? Or did you forget your ... Read More »
Banking

Recurring Deposit (RD) – Features, Benefits and Interest Rate

 A recurring deposit or an RD account helps you build your savings in a safe and secured manner. Mos... Read More »