How to Choose a Bank
The majority of folks won’t have any issues choosing a reliable bank if they use a little common sense. Although it’s true that even well-known banks can fail (as Washington Mutual did in 2008), FDIC insurance will safeguard your funds in certain circumstances. Each owner and per account, it offers $250,000 in coverage. So, a […]
What is Auto Sweep Facility and its Benefits?
A banking tool called the Auto Sweep facility was created to assist both people and businesses in getting the most out of their current and savings account balances. No one (and we mean no one) has the time or patience to check their bank account every day, transfer money over the desired threshold into an […]
How should your first credit card be chosen?
Banks offer hundreds of different credit card types. Some have annual fees, while others have no fees at all. Examine your spending patterns and preferences to identify the best card for you to start with. Although cash may still rule, there is no doubt that digital transactions have increased significantly. And even though everyone speaks […]
What Is The Use Of the IFSC Code And How Do I Find It?
The Indian Financial System Code (IFSC identifier) is an 11-digit alpha-numeric code used by the central bank to uniquely identify bank branches within the National Electronic Funds Transfer (NEFT) network. What is the International Financial Services Code (IFSC)? Electronic payment system applications like real-time gross settlement (RTGS), NEFT, and the Centralised Funds Management System all […]
Do You Own a Bank Locker? Check out these rules
People keep their jewelry and other valuable items in bank lockers to keep them safe. If you have kept your gold in a bank locker or plan to reserve a locker for yourself in a bank, you should be aware of the newly revised locker rules. Following a Supreme Court order, the RBI has mandated […]
RBI bans Paytm Bank from onboarding new customers
In an unexpected move on Friday, the Reserve Bank of India (RBI) barred fintech giant Paytm from onboarding new customers to its payments bank. The Reserve Bank of India has directed Paytm Payments Bank Ltd to cease onboarding any new customers with immediate effect, in line with section 35A of the Banking Regulation Act, 1949, […]
What is Domestic Systematically Important Banks (D-SIBs)?
Banking is the foundation of any economy. A strong banking system is essential for any country’s growth. Every bank makes a contribution to economic growth. However, due to their size, cross-judicial activities, lack of implementation complexity, substitution, and interconnectedness, only a few banks become systemically significant. Because of their characteristics, these banks are so important […]