The Vibe Journal: Finance Blogs

UPI is basically a digital payment system, while BHIM is a mobile application built on that system. In other words, BHIM is one of the apps that uses UPI to allow instant bank-to-bank transfers. According to NPCI data, UPI recorded more than 12 billion transactions in a 1 month in 2024. It showed how widely …

In a major push toward Financial Inclusion and the Digital India initiative, the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) launched UPI 123Pay. Designed specifically for the 400 million feature phone users in India, this service bridges the ‘digital divide’ by allowing secure, instant transactions without an internet connection.  Whether you …

Fixed Deposits (FDs) are offered by banks and NBFCs where you deposit a lump sum for a fixed tenure at a guaranteed interest rate. They are low-risk, easy to open and suitable for conservative investors who want stable and predictable returns.  Government Bonds are debt instruments issued by the government to raise money. When you invest, you’re lending money to the …

Fixed Deposit (FD) is a retail investment system that allows people put in money to a bank for a fixed tenure at a guaranteed interest rate. Certificate of Deposit (CD) is a short-term, transferable money market instrument issued by banks and financial institutions, usually in large denominations.  Simply put, when comparing fixed deposit vs certificate of deposit, an FD is meant for regular …

EMIs have improved access to retail. We see EMI options everywhere right from phones, laptops, appliances and many more. Nowadays, you don’t even require a credit card to convert your expenses into an EMI. You can just use your debit card.  But here’s the real question most people ask:  Does debit card EMI affect credit scores?  Let’s break it down in simple, conversational language so you know …

Imagine this: Your loan EMI is due on the 5th. You assume everything is fine. A day later, you receive an EMI bounce message from your bank saying the payment failed due to insufficient balance. That’s when you first hear about EMI bounce charges and realise they’re more serious than they sound. Let’s break it down in simple terms, with real examples and data so you know exactly what you’re dealing with.  …

Public Provident Fund (PPF) is an investment plan for individuals that is totally backed by the Government of India. It is known as one of the best long-term savings options. Moreover, you can take out a PPF loan against your balance instead of breaking your savings.  A loan out of the PPF is a smart option for your short-term financial needs, which, at the same …

If you’ve ever taken a close look at the bottom of a cheque, you may have seen a series of numbers in a special font. That’s not just some random numbers; that is what we call the MICR code.  Read on to understand what an MICR code is, its purpose and also how it is relevant in today’s digital banking environment.  What is an MICR Code?  MICR code full form: Magnetic Ink Character Recognition. Banks use this technology for …

If you’ve ever applied for a loan, you’ve probably come across the term collateral. You must have wondered what it means and why lenders care so much about it.  Simply put, collateral means an asset you pledge to a lender as security for a loan. In any circumstance you fail to repay the loan, the lender has the legal right to seize and sell that asset to recover their money.  …

If you’ve ever opened an FD and later thought, ‘I should just move this FD to my spouse/daughter/parent,’ you’re not alone. Deposits are a huge part of how Indian households save. RBI’s household savings publications consistently show deposits as a major component of financial savings.  [Source: Reserve Bank of India]  But here’s the catch: in most banks, an FD is not like a movable asset you can …