Banking Blogs

Online transactions are now the new norm. This is particularly so for younger generations who are technologically savvy. Nevertheless, paper-based transactions such as cash deposits remain a common banking practice. Cash deposit slips must be completed when you make a physical cash deposit into an account. It is for this reason that you should know …

There are several ways to make payments in India, like using cash, cards or bank transfers. Among them, cheques and demand drafts (DD) are still widely used for paper-based transactions. Each serves a different purpose and works in its own way.  Understanding the difference between cheque and DD can help you decide which one to …

You can close your bank account, be it savings or current in a very few simple steps. Closing a bank account isn’t something we do often. However, knowing how to go about it can help when you’re planning to. Whether you’re switching banks, moving cities or just don’t need the account anymore, the process is …

Managing multiple financial accounts can be challenging and pose difficulties as daily responsibilities can easily lead certain accounts to become dormant. Accounts placed in this state become dormant or inactive during this process. To manage finances effectively, you must distinguish between active and dormant accounts.  Inactive and dormant accounts show similar traits, yet they differ …

Running a small business comes with many responsibilities and one of the most important ones is tax planning. Managing taxes properly can help businesses save money, avoid penalties and keep finances stable. But tax rules can be tricky and that’s where banks come in. They offer expert advice, special accounts and easy-to-use tools to help …

If you run a business, accepting online and card payments is a must. A merchant account makes this process smooth, helping you manage transactions easily while improving cash flow. Whether you own a small shop or an online store, setting up a merchant account ensures hassle-free payments.  Read on to know everything about merchant accounts, …

Ever wished managing your finances was as easy as ordering food online? That’s what Open Banking brings to the table! It allows banks to share your financial data with your consent to trusted apps. It helps in making budgeting, loan approvals and payments smoother than ever. But how does it work and what’s in it …

Choosing the right type of banking can feel like picking between two different worlds where one is customised for individuals and the other for businesses. When comparing retail banking vs corporate banking, it’s all about understanding your financial needs. Retail banking is what most of us use daily for savings accounts, personal loans and credit …

Small Finance Banks or SFB Banks are changing the way banking works in India, especially for people who don’t have easy access to financial services. These banks focus on providing banking and loan services to small businesses, farmers, and low-income households. The Reserve Bank of India (RBI) introduced them in 2015 to improve financial inclusion …

Your bank account number is important in terms of taking care of your money and keeping track. You need it at various places like getting your salary, paying bills, sending money to someone, or setting up a plan to pay back a loan. Your bank account number is necessary for every money transaction you make.  Sometimes people forget where they put their …