Category: Banking

What is a Multi City Cheque ?

Multi City Cheque in India: Multicity cheques are pre-printed cheques containing the customer’s name and account number. By using these cheques , You could withdraw cash from any of bank branches across India.  Customers of one bank could issue these…

Objectives of Nationalization of Banks in India

The government of India has nationalized 14 major banks on July 19, 1969 which had deposits of more than Rs 50 Crore and Six more Banks were nationalized on April 15, 1980 which had deposits of Rs. 200 Crore. After…

Benefits ,Drawbacks & facilities of Internet Banking

Internet Banking means banking through Internet. It gives you the facility to access your bank account in real time and to make full control over your bank and credit card account. By using Internet banking, you could access your bank…

Inter Bank Transfers (RTGS & NEFT) in India

Definition of Inter Bank Transfer Transfer of funds electronically from the account of remitting customer in one Bank to the account of the beneficiary maintained with any other Bank branch participating in this scheme. RTGS and NEFT are systems of…

Saving & Investment of Money

Earning of money is a required thing to live our life. We want to earn more and more money to spend a successful life but it is not enough. We should also save a part of our earning for the…

Development Banks in India

A Development Bank is a multi-purpose financial institution. It strives to promote & finance economic development .A development bank provides a package of services from identification to management. It arranges package of incentives to entrepreneurs. It brings in institutional innovations…