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 …
Category Archives: Banking
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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Retail Banking vs Corporate Banking: Which One Is Right for You?
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 …
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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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Bank Account Number – How to Check Online?
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 …
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MPIN Full Form & Setup: How to Generate and Find Your MPIN
An mPIN, or Mobile Personal Identification Number, is a 4 or 6-digit code that verifies your identity and keeps your digital payments safe. It works like an ATM PIN for your phone, allowing you to confirm transactions without entering full bank details. With UPI and mobile banking becoming the new norm, it’s important to keep …
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ATM Withdrawal Limits: How Much You Can Withdraw Per Day
An ATM withdrawal limit is the maximum amount of cash you can withdraw from an ATM on any given day. Banks generally impose these limits to protect your funds. This threshold limit will keep losses to a minimum if your card gets lost or stolen. Naturally, each bank has its own per day ATM withdrawal …
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Cash Credit vs. Overdraft: Which Is Better for Your Business?
Running a business requires a steady flow of funds. Managing these rolling funds can be challenging. And trying to sort out your business’s short-term financing options can seem cumbersome at times. You might lean towards options like overdraft and cash credit for help. Both can help smooth out your cash flow when expenses come up, …
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