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 …
Monthly Archives: April 2025
Balance Sheet Explained: What It Is and Why It Matters?
A balance sheet is like a financial report card for a business. It shows what a company owns, what it owes and what’s left for the owners at a specific moment in time. If you run a business, invest in companies, or just want to understand finances better, knowing what is balance sheet in accounting …
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Fund Managers: What They Do & How to Become One?
Investing isn’t just about picking stocks or bonds — it requires knowledge, strategy and risk management. That’s where fund managers step in. They manage investment funds like mutual funds, hedge funds and pension funds, making smart decisions to grow investors’ money. Read on to know what fund managers are, what they do, how to become …
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How to Manage Taxes on Your Dividend Income in India
Investing in stocks and mutual funds helps grow your wealth and dividends are a key benefit. It’s an extra income paid by companies to shareholders. However, dividends are taxable in India. Earlier, companies paid a Dividend Distribution Tax (DDT), making dividends tax-free for investors. But since April 2020, the tax burden has shifted to investors, …
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URN Full Form: What is URN Number, Meaning & How to Check Status
URN is commonly known as Update Request Number. It is a unique 14-digit code that UIDAI issues the moment you submit a request to change any detail on your Aadhaar card. In banking and Aadhaar-linked services, the same term is used to mean this tracking code, not a separate banking product. It works like a …
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How Do Banks Help Small Businesses with Tax Planning?
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 …
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How to Set Up a Merchant Account : A Detailed Guide
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, …
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Open Banking Explained: What It Is and How It Benefits You
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 …
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Difference Between Retail and Corporate Banking
Retail banking is basically for people and Corporate banking is for businesses. That’s the difference between retail and corporate banking in one line. But if you’ve ever wondered why your salary account works so differently from how a company manages its finances, there’s more to it than just ‘who uses it.’ When people search for …
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Small Finance Banks in India: Everything You Need to Know
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 …
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