There are times when the Bank Accounts considered premium and only elite people can have one. But with the initiative of the Indian Government and the Financial Inclusion movement brought the Savings Bank Account to every individual possible. But it is important to know the characteristics and Benefits of Bank Account so that you can […]
What is Bank Savings Account? Benefits and Features Read More »
MUDRA (Micro Units Development and Refinance Agency Ltd) is a financial Institution created by Government to support small scale industries and Startup. It provides support to small industries by financing through Banks, Non Banking Finance Companies (NBFC) and Micro Finance Institutions (MFI). MUDRA was introduced in 2016 by Union Finance Minister to provide easy and
MUDRA Loan: Pradhan Mandri MUDRA Yojana (PMMY) Scheme Details Read More »
Mortgage is a type of charge bank create on a property for safe lending. Thus it is really important that you have a proper knowledge about types of charges bank creates before applying loan. There are three types of charges banks create on the security provided by borrower. The charges are namely Pledge, Hypothetication and
What is Mortgage and Types of Mortgage in Bank Loan? Read More »
Prompt Corrective Action (PCA) is a defense mechanism created by RBI for monitoring and safeguarding the banks from financial collapse. Thus the PCA is a process or mechanism under which RBI can initiate a corrective action on banks. Which involves monitoring of certain performance indicators of the banks as an early warning exercise for financial
What is Prompt Corrective Action (PCA) Framework for Banks? Read More »
If you want to apply for loan with some kind of security like Gold, Vehicle, Buildings as a guarantee. To safeguard the loan, banks will create charge on the security you propose. There are three common types of charges banks and financial institutions create on the security namely Pledge, Hypothecation and Mortgage. You might have
Pledge VS Hypothecation VS Mortgage |Differences & Comparison Read More »
Current Account is specifically curated account for Business/Firm. If you does not have a current account yet and does not know what is current account, Read our article on Comparision of Savings and Current Account before this page for better understanding. But as for this post let us see what are the documents required for opening a
Documents Required to open Current Account for Business/ Firm Read More »
Banking Ombudsman is an appellate authority for resolving customer disputes with the banking services provided. It is an authority created by RBI the regulatory authority of the Banking sector. Banking Ombudsman provide a Free and Quick resolution to the issues faced by customers with the Banking sector. Apart from resolving issues BO also have a
