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Financial Education for Loans, Investments, Insurance. Role of RBI in Indian Economy - Structure and Functions of RBI. FREE Credit Score Watch Our Videos Home Articles Role of RBI in Indian Economy - Structure and Functions of RBI Role of RBI in Indian Economy - Structure and Functions of RBI IndianMoney.com Research Team | Posted On Tuesday, March 10,2020, 11:34 AM ★★★★★3.7 / 5 based on 4 User Reviews Get free Personalized Money tips!
Get weekly tips on how to Save, Spend, Borrow, Invest Money wisely.Be the first one to know the new things happening in the world of Finance.Our free articles and tips will help you become a Financial Wizard. IndianMoney.com Research Team The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. The New Realities of the Indian Banking System. FREE Credit Score Watch Our Videos Home Articles The New Realities of the Indian Banking System The New Realities of the Indian Banking System IndianMoney.com Research Team | Posted On Wednesday, March 11,2020, 12:00 PM ★★★★★5.0 / 5 based on 1 User Reviews Get free Personalized Money tips!
Get weekly tips on how to Save, Spend, Borrow, Invest Money wisely.Be the first one to know the new things happening in the world of Finance.Our free articles and tips will help you become a Financial Wizard. IndianMoney.com Research Team The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice.
How Private Banks are Taking Over Indian Banking. The Indian customers are slowly moving their banking bases from public sector banks to the private ones.
One of the main reasons why private banks are attracting customers is the higher interest rates offered on savings account, better customer care service and extensive facilities like online banking and loans at an affordable rate of interest. Want to know more on Fixed Deposits? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. indianMoney.com is not a seller of any financial products. Know All The Fixed Deposit Interest Rates 2020. It is a saving scheme offered by banks and non banking financial companies popularly called NBFCs.
These are a type of term deposits that give a fixed rate of interest until maturity. The rate of interest is higher than savings bank account. Interest rates vary across banks. Fixed deposits offer saving and investing opportunity at a single place with no risk involved. Key Things to Know About The Post Office Monthly Income Scheme Account. If you are looking for investment options that will allow you to get decent returns while protecting your invested capital then a Post Office Monthly Income scheme can be an ideal solution for you.
The POMIS is a popular scheme among both the rural and the urban investors as it allows them to generate a side income to fund income shortfalls. But before you decide to park your lump sum, you must be aware of some of the important aspects of the scheme: Want to know more on investment Planning? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. POMIS is a popular investment scheme among the rural and urban population in India. See Also: Best Investment Plans for Millennials in 2020. Banking Regulation Act 1949 and Important Sections: All You Need To Know. Banking Regulation Act 1949 is an act passed in the year 1949 for the purpose of regulating banks across the country.
It was earlier called banking companies act 1949, and later in 1966 it came to be known as the banking regulation act 1949. Earlier this law was relevant only to banking companies. Later cooperative banks were also included under the law. The law provides rules regarding the framework within which banks are supposed to operate. Only two categories of banks are excluded from this law: Co-operative land mortgage banks and primary agricultural credit societies.
Pros and Cons of Internet Banking. Internet banking has revolutionized the way people see the banking system.
With the ease of use and mobility at fingertips, user experience has been magnified multi-fold. With so much to look forward to, there is no denying the fact that internet banking is here to stay or till the next revolutionary innovation is made. Yet, just like every other product, internet banking also has advantages and disadvantages. Want to know more on Fixed Deposits? We at IndianMoney.com will make it easy for you. 6 Tips to Use Internet Banking Safely. Internet banking can be understood as a process of using a website or application via personal computer or mobile phone, for the purpose of carrying out banking activities.
Digital revolution has made our lives easy and hassle free. Daily activities like grocery shopping, ticket bookings are all possible with a single click. The same applies to the banking sector. Almost all the banks offer internet banking facilities. It includes activities like fund transfer, bill payments, viewing bank statements, transaction history and much more.
Pre-Nationalization and Post-Nationalization Period of Commercial Bank. The banking system in India is fundamental to economic strength and smooth monetary transactions.
Ever since the establishment of the banking system, all monetary functions have become transparent, streamlined and smooth. RBI Rebuts Social Media Rumours on Closure of 9 Banks. The social media is flooded with posts on the closure of nine commercial banks after a mischievous poster made the announcement through a platform.
The news spread like wild fire with many people in total panic. The September 25th post even mentioned the names of the banks that were supposed to shut down. RBI immediately denied this. A Detailed Guide on Gold Loan and Gold EMI Calculator. Gold loans are secured loans which are pledged against gold jewelry and gold coins with various banks and financial institutions.
With the introduction of bank and financial institution-backed gold loans, the process has become well organized and transparent. Gold loans are aggressively promoted across the country as they benefit both the lender and the borrower. Another benefit of the gold loans is that they are comparatively cheaper vis-a-vis other loan types. As the collateral is furnished by the borrower, there are limited chances of default which keeps the interest rates low. However, as a borrower and one of the affected parties, it is important that you understand all the knick-knacks of this efficient loan. Why You Must Not Take Loan Against PPF? PPF or Public Provident Fund is a favorite of conservative investors in India. Many people avail loan against PPF to meet emergency needs. According to changes which were made in the PPF scheme, Loan against PPF taken on or after December 12th 2019 enjoys an interest rate of 1% a year, instead of 2%.
However, experts are of the opinion that you must not avail Loan against PPF. Repo Rate Unchanged: Home Loan Rates Go Up? The Reserve Bank of India (RBI) kept the repo rate unchanged in its bi-monthly policy review meet on October 5th 2018. This was after the RBI had opted for back-to-back repo rate hikes in the last two bi-monthly policy review meets. RBI repo rate increased from 6% to 6.5%. Many analysts expected a repo rate hike of at least 25 bps, as crude oil prices were high and inflation needed to be combated, but the RBI did not oblige.
Why RBI did not hike repo rate? Repo Rate vs Bank Rate. Repo Rate and Bank Rate are two of the tools used by the Central Bank (Reserve Bank of India) to control money supply, interest rates, inflation and so on. They are short term measures used to control liquidity and many people are under the impression that they are both the same and can be used interchangeably. However, there are some prominent differences that set the two apart. In this article, we will try to understand what a Repo Rate and Bank Rate is, what the difference between the two is, and how they are used by RBI. Want to know more on Home Loans? We at IndianMoney.com will make it easy for you. What is SBI Virtual Debit Card? SBI Virtual Card is nothing but a debit card with a limit. SBI recently introduced virtual cards for all the net-banking users. SBI Virtual Card is mainly used by internet shopping. You can pay on e-commerce websites like Amazon or Flipkart.
SBI Virtual Card is not a physical card; it’s simply identified by its number. The virtual card meets all RBI requirements. Union Budget 2020: What Gets Cheaper and Whats Costly? Nirmala Sitharaman presented the Union Budget 2020 on February 1st 2020. This Budget brings joy to many people and also disappoints a few. Let’s take a look at what gets costly and what’s cheaper after the Union Budget 2020. 10 Reasons for Indian Economic Slowdown. According to the latest data available, the Indian economy is witnessing an economic slowdown. Economic growth is facing a downward spiral of 5% for the financial year 2019-2020.
The Increasing Importance of the Reserve Bank of India. The Reserve Bank of India is the regulatory body and the central bank of the country. It regulates cash flow in the economy and facilitates trade and industries within and outside the country. The RBI was established in the year 1935 on 1st of April and was nationalised in 1949. Role of Banks in Financial Inclusion in India. Financial inclusion may be referred to as the process of providing financial services and easy access to credit to all the people in the country. Functions of Money in the Modern Economic System. How to Buy Property Easily? Buying a property is not easy. All You Must Know About Tax Planning. Tax planning is legitimate reduction of tax liability to minimum. Taxes reduce disposable income and so restrict the ability to achieve financial goals.
Tax planning is therefore an integral aspect of the personal financial process. What to Expect From Union Budget 2020? The Union Budget 2020 is just round the corner. The Finance Minister Nirmala Sitharaman will present the Union Budget 2020-2021 on February 1st 2020 which is a Saturday. This is the first time that the Union Budget would be presented on a Saturday.
What are Pre-Approved Loans? A pre-approved loan can be defined as a pre-approved offer given by banks based on your credit report. Banks offer pre-approved loans in various format like pre-approved personal loan/ home loan/ and car loan. However, it is usually offered to individuals who carry out transactions with the bank and have a clean repayment history. How Credit Score Affects Your Life? A Credit score is a numerical representation of your creditworthiness and thus credit score is scrutinised by banks and financial institutes before lending money to borrowers. It helps the lender understand the kind of borrower you are. Pros and Cons of Joint Home Loan. Should You Take Loan Against Life Insurance Plan? 25 Manufacturing Business Ideas in India. How to Get Rich in New Year 2020? Debt Management Strategies for 2020. How to Close SBI Fixed Deposits Online?
What are Liquid Assets? Why Liquid Assets is Essential for the Business? Want to Invest in Close-ended Mutual Funds? Make Sure You Know This. Top 5 Financial Resolutions for New Year 2020. When To Switch Home Loan? Investments for Tax Free Income. Are You Confused About Whether To Use Your Credit or Debit Card? How to Set Financial Freedom Goals? Financial Moves You Should Make Before the Year-End. Steps to Transfer EPF Account Online. Is It Good to Invest in Corporate Fixed Deposits? 10 Strong Reasons to Use a Credit Card. Learn How You Can Prioritize your Personal Financial Goals. How to Build Corpus for Child Education? PPF or NPS: Which One is a Better Investment Tool? How to Perfect Your Personal Loan Application?
Why Take a Joint Home Loan? How to File Income Tax Complaint? 7 Reasons to Invest in Equity Mutual Funds. How to Increase Your Credit Card Limit? Why is Your Home Loan EMI Still High? Low Income? Here are Some Credit Card Tips For You! How Credit Card Users Can Maintain a Healthy Credit Score. How to Replace Salary with Investment? Top 3 Money Management Tips For Those with an Irregular Income. How Credit Score Impacts Insurance Premium. Hard Money Basics. Should You Invest in ELSS Beyond the Section 80C Limit? How Can Compound Interest in Mutual Funds Make You Rich? What is India Post Mobile Banking Facility? How To Recover Home Loan EMIs? 4 Factors to Consider While Buying Term Insurance. The Advantages of Money Market Funds. Fixed Deposit Vs Fixed Maturity Plan. What are WhatsApp Banking Services? ELSS: Smart Way to Save Tax. Compare & Apply for a Loan Against Property Online. Surcharge on Income Tax: Know Surcharge Fee and Calculations. Best 5-Year Fixed Deposits in India (2019)
Why Buy Bonds If Interest Rates Will Rise? Latest Trends in Digital Banking – A Must Read for New-Age Banking Customers. 9 Things You Should Know About Investment Banking. What are the Instruments Purchased by a Money Market Fund? A Brief History of Nationalization of Banks. The Future of Bank Risk Management. Pradhan Mantri Jan Dhan Yojana and Its Success.
Fixed Deposits Interest Rates 2019. Expense Ratio of Mutual Funds. Performance of Pradhan Mantri Ujjwala Yojana. Steps to Get Health Insurance Claims Faster. Health Insurance for Family in India. How to Buy LIC Tech-Term Insurance Plan. LIC Launches Tech Term Insurance Plan. What to Do If You Have Lost Property Documents? What to Know Before Choosing Term Insurance. Limitations in Health Insurance Policy. I Want to Open a Restaurant. How Can I Get MUDRA Loan? Why Yes Bank Shares are Falling? How to Top-Up Health Insurance Plans? 8 Types of Death Not Covered Under Term Life Insurance. How to Choose the Best Term Insurance? Term Insurance is the Key to Secure Your Family's Future. How to Claim Both HRA and Home Loan Interest Tax Deduction? 5 Long Term Health Insurance Benefits. How to Claim HRA in Tax Return? Was Financial Burden an Upshot of the Kargil War for Pakistan?
Health Insurance Grace Period. How to Pay Tax on SBI e-Tax? How OLA Makes Money?