The Reserve Bank of India in the beginning of September 2012 has directed all banks in India to issue uniformed featured cheques which as per specifications of the Cheque Truncation System (CTS) 2010. This is with a view to standardize the procedures and provide a safeguard against frauds through uniform security features. The RBI also stated… Read More »
The long awaited cut in rates finally happened in the April 17th RBI policy review when the central bank cuts it CRR by 50 bps to bring it down to 8%. From a very harrowing hike spree last year that lead to nearly 13 rate hikes in 18 months the situation became stable only in… Read More »
Almost all of us in this world are so focused in creating wealth that we hardly get the time to think about how our loved ones will get the wealth created by us if we are not there. This has landed many a loved one in trouble – starting from high cost of getting what… Read More »
Saving account (SB) has been the unique link that joins a common person with a bank. It has come up with lots of changes from the past when people had the choice of few banks that too with one type of saving bank account in an offer. Now people have a variety of options to… Read More »
Each type of account requires a minimum balance to be held in that account in order to avail the services offered on the account. The minimum balance required varies as per the account and services being offered. However at times the banks may change their rules and raise the minimum amount required to be held… Read More »
RBI’s decision to slash the SLR rate by 100 basis points to 23 percent has pleasantly surprised many. Banks had witnessed tight liquidity position in last few months, but the current move by RBI would ease the pressure, to some extent. The effect of RBI’s step has been taken immediately by the State Bank of… Read More »
Anxiety, cheer, joy, worry, nerves, confusion, clarity, lack of clarity – these are the range of emotions that engulf us the moment we start thinking of buying our first home. Irrespective of our financial standing, a first home has a very special emotional place in our heart. Then, why should it be a cause for… Read More »
The end of July rush is the expected norm every year, when tax returns need to be filed! Most people wake up to the need of filing income tax returns only around this time! The IT department has over the years introduced many measures, which take advantage of the available technology to make the process… Read More »
According to a survey in United Kingdom, more than 50% of people do not save enough for their retirement. The number is worse for Americans and Canadians. 150 million Americans out of 200 million, who are in working age, are not saving enough to fund their needs after retirement. Similarly, 80% of Canadians will not… Read More »
It is essential for women, be it working women or homemakers to keep themselves and their family financially secure. In the olden days, women generally had a habit of keeping savings in the containers in their kitchen, but today that is not going to get our savings anywhere when confronted with ever-growing inflation. It is… Read More »