Yearly Archives: 2024
If you are planning to register your business as a Micro, Small, and Medium Enterprise (MSME) and wondering if you need a current account, the answer is yes! For registering your business as an MSME, it is often necessary to have a functional current account to facilitate financial transactions and maintain proper records. A current…
MSME (Micro, Small and Medium Enterprise) registration can be a transformative step for your business. Doing so can offer distinct benefits like easy access to loans at lower interest rates, tax subsidies and various government incentives and schemes. This recognition assists in business expansion and growth. However, there might be a few questions you might need…
Running a family business is a rewarding experience, but it comes with its own set of challenges. Managing cash flow and ensuring seamless financial operations are a few of them. Many family businesses struggle with these issues, leading to stress and inefficiency. But the right financial tools, like a current account, can ease the pressures….
With advancements in digital tech and the banking sector, it has become easier and more convenient than ever to manage your finances. One such major digital shift in banking is the rise of electronic statements or e-statements. For business owners, a current account e-statement can provide a range of benefits, such as better security, convenience,…
Running multiple businesses can be exciting and positively challenging. However, managing various operations is also difficult, especially when it comes to finances. Business owners dealing with multiple businesses may wonder whether they can use a single current account for all their ventures. It might seem tempting to bundle all business transactions into one account. However,…
A current account is essential if you deal with a large number of transactions, whether you are a sole proprietor or a business partner. But are you truly making the most of the current account benefits offered by your bank? Here are some points to help you optimise the full potential of your current account…
A bearer cheque is a financial instrument payable to anyone who presents it at the bank. Unlike other types of cheques, a bearer cheque does not need the endorsement of the person to whom it is issued. This makes it easy to transfer. Let’s learn more about the meaning of a bearer cheque and its…
When you join a new employer’s payroll or apply for a loan, you must promptly provide your bank details. A cancelled cheque can simplify this process. It is a common financial document used for verification with no validity for transactions. Let’s explore what a cancelled cheque is, how to write one, and where it is…
When you write a cheque, you expect it to reach the right hands. However, imagine you lose the cheque or that it falls into the wrong hands. The thought of someone else potentially being able to cash can be stressful. This is where a crossed cheque comes into play. A crossed cheque can be identified…
DICGC stands for Deposit Insurance and Credit Guarantee Corporation. The DICGC was established in 1978 as a wholly owned subsidiary of the Reserve Bank of India (RBI). Its main aim is to provide insurance coverage to depositors. It ensures that their deposits are protected in the event of a bank’s failure. SO, let’s learn more…
There are many reasons one may change their name. It may be due to marriage, divorce, or personal reasons. Whether you have changed your name legally or need to correct a spelling mistake, it is important to ensure your bank records reflect your current name. It is essential to change the name in your bank…
If you have moved recently, chances are you may be busy adjusting to your new address. However, in the midst of these adjustments, one must remember to update the address in their bank account. Updating the address in your bank account ensures you receive all vital communications without delays. In this article, we will discuss…
Keeping your bank account details up to date is essential for ensuring seamless banking transactions. If you have changed your mobile number, it is important to update it with your bank. This allows you to continue receiving transaction alerts and other critical information. This article will guide you on how to change the mobile number…
The 50/30/20 rule is a popular method for budgeting and saving. It simplifies the budgeting process by allocating your income into three distinct categories. This rule provides a clear framework for how to save money. It also ensures that your essential needs are met and that you still enjoy some careful spending. In this article,…
PPF, or Public Provident Fund, is a popular savings scheme backed by the government of India. Many people prefer it for its guaranteed returns and tax benefits. PPF has a maturity period of 15 years. Once your PPF account matures, you can withdraw the entire amount. However, partial withdrawals are allowed once it completes 6…
Ever given a thought to using a personal loan for non-urgent expenses? If not, then think again. Personal loans can be useful during financial mismatches. Many people mistakenly believe that personal loans are only for emergencies, but that’s not entirely true. With smart loan management and proper financial planning, you can use a personal loan…
Are you postponing your dream international trip because you lack funds every time the opportunity arises? Travelling abroad helps you freshen your mind, explore new cultures, taste new cuisines, visit iconic landmarks, meet new people, and create unforgettable memories. You shouldn’t miss experiencing this life-changing opportunity just because you fear financial strain. With the right…
Weddings are special occasions that need careful financial planning. However, unexpected expenses can still arise and leave you in a tight spot. What would you do if last-minute guest additions escalate your catering and venue expenses? What happens if a sudden change in weather increases the destination wedding cost you originally estimated? Or your chosen…
Italy, with its rich history, stunning architecture, and delectable cuisine, is a dream destination for many travellers. Whether it is the romantic canals of Venice, the ancient ruins of Rome, or the breath taking Amalfi Coast, Italy offers an experience like no other. However, planning a trip to Italy can be expensive. To deal with…
Are you dreaming of a perfect vacation but worried about the costs? You can achieve a budget-friendly trip without compromising your experience by using a personal loan. However, it’s crucial to have a proper financial plan in place to avoid falling into significant debt. Unmanaged debt can become a financial burden and hinder your future…