Difference Between EPF and PPF
Posted on Monday, November 11th, 2024 |
Are you confused about choosing between the Public Provident Fund (PPF) and Employee Provident Fund (EPF) schemes? Both are prudent savings schemes but serve distinct goals. Choosing between both options depends on your financial goals and employment status. EPF is mandatory for salaried employees and involves contributions from both the employee and the employer. Conversely,…
Read moreWhat is PM Jan Dhan Yojana or Pradhan Mantri Jan Dhan Yojana? Documents Required & Eligibility
Posted on Monday, November 11th, 2024 |
The Pradhan Mantri Jan Dhan Yojana (PMJDY) is an initiative by the Government of India. It aims to promote financial inclusion for all citizens, particularly those who are unbanked. Launched in August 2014, the PMJDY scheme strives to ensure that every household in India has access to basic banking services. These include a savings account,…
Read moreWhat is Kiosk Banking? Definition & Advantages of Kiosk Banking
Posted on Tuesday, November 5th, 2024 |
In the last few years, online and mobile banking have revolutionised the banking industry. It has made banking seamless and more convenient for customers. However, there are many who still prefer a more physical approach. This is where kiosk banking steps in, bridging the gap between traditional banking and digital convenience. For the uninitiated, a…
Read moreWhat is Electronic Clearing Service (ECS) in Banking and How does it Work?
Posted on Tuesday, November 5th, 2024 |
In India’s rapidly changing banking scene, ECS is now vital. However, many people are not very well-aware of what ECS is. ECS, full form of which is Electronic Clearing Service, is an electronic method of transferring funds from one bank account to another. It is a service that automates recurring payments like utility bills, loan…
Read moreWhat is CASA in Banking? Full Form, Features & Benefits
Posted on Tuesday, November 5th, 2024 |
Opening and maintaining a bank account should be easy. Yet, many face confusion regarding what kind of bank account would be best for their needs and offer them the best benefits. With so many types of bank accounts available today, it can be hard to choose the right one. This is where understanding key banking…
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