What is the Meaning of Nominee in Banking?

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When opening a bank account, one crucial detail that often gets overlooked is the appointment of a nominee. Having a nominee ensures that your funds are passed on to the chosen person in the event of your demise.  Hence, knowing the nominee’s meaning in a bank account and their importance is crucial for a secure…

How to Deposit a Cheque?

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Depositing a cheque is a common banking activity that many people have to perform regularly. Whether you are depositing a personal cheque, a business cheque, or making a payment, understanding the proper steps can help ensure a smooth transaction. In this article, we will guide you on how to deposit a cheque in a bank…

What Is a Cheque Deposit Slip?

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When you deposit a cheque, it is important to enter accurate information. If you are unsure about the process and details required, you may end up filling out the cheque deposit slip incorrectly. This can lead to delays or rejections. An accurately filled cheque deposit slip ensures your deposit is processed in the right manner. …

NPS Vatsalya Scheme: Eligibility, Tax Benefits & How to Apply

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Financial security is paramount, especially as you approach retirement. The National Pension System (NPS) is a reliable option for many individuals for the same reason. Among its various offerings, the NPS Vatsalya Scheme is particularly noteworthy. This scheme is designed to ensure a financially secure retirement, providing peace of mind to its subscribers. In this…

Financial Year vs. Assessment Year: What’s the Difference and Why It Matters?

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Ever found yourself scratching your head while filing taxes, wondering whether to enter the Financial Year (FY) or the Assessment Year (AY)? You’re not alone! Many taxpayers mix up these terms, leading to errors in tax filing. But here’s the deal. Understanding the difference between FY and AY is crucial. It ensures that you fill…