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An mPassbook, or mobile passbook, is a digital facility offered by many banks that allows customers to view their bank account and transaction details on a smartphone. Instead of visiting a branch to update a physical passbook, you can use your bank’s official mobile application to check your account balance, transaction history and other available details. Depending on …
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Cheque bounce charges are a penalty that you must pay when the cheque fails to provide the promised amount. Writing a cheque is an agreement to pay the mentioned sum bound by the law. So, when you cannot honour it, these charges are a result. This may happen when your cheque payment is not cleared …
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Pay orders and demand drafts are both prepaid banking instruments used to make secure payments, but they are not the same. A pay order is usually used for payments within the same city or local banking area, while a demand draft is commonly used to transfer money to another city or location. Since both are …
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If you’re wondering how to send money without sharing your account number, MMID is what you need. It’s a simple and secure way to transfer funds using mobile banking. MMID full form is Mobile Money Identifier. It’s a 7-digit unique code linked to your mobile number and bank account. With this code, you can make …
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Post-dated cheque is the one in which the date written is some time in future. It cannot be cashed until that particular date comes. Post dated cheque or PDC is widely used in India for making payments towards rents, EMIs, loans, businesses etc. Validity of PDC cheque is 3 months from the date on the cheque. If you have been …
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Choosing between IMPS vs NEFT electronic fund transfer options depends on multiple factors. These two options serve the same goal of making convenient fund transfers but have many distinct features and benefits. Old-school fund transfer methods allow you to send and receive a higher amount through multiple channels. Therefore, many private and government agencies rely …
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Your CIBIL score update time relies on many factors, including your latest credit activities and the time lenders take to report your transactions to credit bureaus. Before applying for any type of credit, consider these crucial pointers: Read on for a brief overview of why you need a good CIBIL score, when your credit score …
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India’s Finance Minister Nirmala Sitharaman plans to unveil the Union Budget on February 1, 2025. Taxpayers expect the government to raise standards in tax rules through increased exemption levels and potential rate reductions for people whose annual pay ranges from ₹10 to ₹20 lakh. Many experts predict that because this year is election time for …
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Identifying and dealing with financial fraud on time is essential to protect your finances. Nowadays, scammers are using various methods to steal your hard-earned money. Knowing about these different types of fraud can help you spot them on time and stay clear of them. So, read on to learn more about financial scams and how …
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As the dates for the release of the Economic Survey and Union Budget 2024 are close, leaders across industries and taxpayers have begun speculating what Finance Minister Nirmala Sitharaman will have for them. Since it is going to be an Interim Budget to be announced just before the General Elections in 2024, the Central Government …
