Banks are financial institutions that have the authorization to receive deposits and grant credits. These play an important role in sustaining the economic status of a country. Due to the same reason, in India, these institutions are managed under strict regulation by the Reserve Bank of India (RBI). Banks provide essential financial services for both common citizens and businesses. These give you a safe place to store your hard-earned money through several account types and Savings accounts.
Every economic entity is required to provide financial information to all of its stakeholders. The financial information provided must be accurate and present a true picture of the entity. It must account for all of its transactions for this presentation. Accounting must be consistent because economic entities are compared to understand their financial status. There […]
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Gold investments have been more than investments in India – it has been more like a tradition that has been followed for years and years. Even after all of these decades, investing in gold has not at all gotten old, and moreover, the value of gold is skyrocketing as always. Just how our investment pathways […]
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Ever since the Indian government announced demonetization on 8th November 2016, they put a lot of emphasis on digital transactions. The Modi government announced a lot of measures to promote cashless payments. One such initiative was paying through UPI. To boost the UPI payment, the BHIM app was launched on 30 December 2016. Initially, people […]
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Even in the era of high-tech and space tourism, our financial literacy often leaves a lot to be desired. In this article, we suggest checking to see if you’re losing money because of one of these common financial myths. Myth #1. If you often take small loans, your credit history will be ruined Some people […]
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Credit card statements are basically billing documents that have the details of every purchase, payment, debit and credit transaction of the credit card holder. The statements get issued to a user at proper intervals and contain all the necessary information in detail. As any credit card statement contains all the necessary details for a card […]
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Universal Account Number abbreviated as UAN is the account where every employee gets their Provident Fund deposits submitted. You might already know that EPF is provided to the salaried employees for the purpose of long-term savings and tax benefits. While a lot of people know that this amount is being deposited into their PF accounts, […]
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Have you ever gone through your salary slip and wondered how exactly your salary gets calculated. Turns out, in more or less all the organizations, the payscale provided by the competition is taken as a benchmark. And then, your salary figure depends on what the company can offer to attract and retain the employees. Other […]
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Dearness Allowance (DA) is a component of your salary that you’ll find listed in your monthly salary slip. And the history of DA can be traced back to the Second World War when it was first introduced. Back then, it was known as the ‘Dear Food Allowance’. It was given to employees in response to […]
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When we study any economy, we find the banking sector at the forefront of spearheading financial growth. The banking sector is rightly called the pillar of any economy. In the last decade or so, the banking sector has been evolving to serve its customers better. In this endeavour, we find many banks adopting the core […]
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Thanks to advancements in Fintech, digital payment platforms are increasingly replacing traditional cash-based solutions. This issue was highlighted by Joseph Mwanamveka, Malawi’s Minister of Finance, Economic Planning and Development, at the 2019 Monetary Policy Conference. Staged by the Reserve Bank of Malawai (RBM) at Nkopola Lodge in Mangochi in November 2019, Malawi’s 2019 Monetary Policy […]
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