Demand Draft: Meaning, Types, How It Works, and Benefits

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Have you ever faced a situation where a cheque or cash payment was not accepted? For instance, many educational institutions require payment through a Demand Draft (DD) instead. Curious to learn more about how demand drafts work and why they are a preferred method of payment. Continue reading as we delve into the details of…

What is a Beneficiary Account?

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What is a beneficiary account? Are you curious about this question and looking to understand it? Before diving deep into the meaning of a beneficiary account, it is crucial for you to understand what a beneficiary is. The term ‘beneficiary’ refers to an individual or entity set to receive particular benefits or gains from specific…

How to Withdraw Cash from an ATM Without a Debit Card? Benefits and Limits

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Ever found yourself in need of funds but realised you forgot your debit card at home? Do not worry; the cardless cash withdrawal system is here to help. This system allows you to withdraw cash from a UPI-ATM without the requirement for a physical debit card. Instead, you can use mobile banking apps and QR codes…

How to Get a New Passbook?

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In today’s digital age, the need for physical documentation might seem diminished, yet there are instances where a passbook becomes essential. Whether it’s for keeping a meticulous record of transactions or for traditional banking needs, understanding the process of obtaining a new passbook can be quite beneficial. Understanding the Importance of a Passbook A passbook…

Budget 2024 Highlights

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Budget Day in India is highly anticipated, with businesses and the public keen to see the new schemes and initiatives. This year, due to elections, Budget 2024 was announced later than usual, on February 1. The Finance Minister presented the Final Budget on July 23, 2024, emphasizing employment, skilling, MSMEs, and the middle class. The…