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Press ReleaseWhat is the Cash Reserve Ratio and its Impact on the Economy?
Posted on Thursday, November 14th, 2024 |
Have you ever thought about how banks manage the funds that are deposited? Or why do regulations ensure financial institutions do not lend out every rupee they receive? These questions bring us to the concept of the Cash Reserve Ratio (CRR). Understanding CRR is essential, as it considerably affects the economy, impacting everything from inflation to…
Read moreAccrued Interest – Definition, Example & How to Calculate it?
Posted on Thursday, November 14th, 2024 |
When was the last time you checked your bank statement? Did the interest credited seem lower than expected? You might not be accounting for accrued interest. It is key to calculating interest earnings and payments. If you deal with loans, bonds, or savings accounts, knowing what accrued interest is, is crucial. What Is Accrued Interest?…
Read moreWhat is Digital Rupee (e-Rupee)? How Does It Work?
Posted on Wednesday, November 13th, 2024 |
The financial vertical is witnessing a transformation, and India is at the forefront with its introduction of the digital rupee, also called the e-Rupee. This innovation represents a considerable leap toward modernising the financial system. But what exactly is the digital rupee and how does it differ from other forms of money used today? Explored…
Read moreWhat are the Advantages & Disadvantages of a Debit Card?
Posted on Wednesday, November 13th, 2024 |
A debit card is a financial tool linked directly to your bank account that allows you to electronically spend your money at retail stores and online. Often, it’s also referred to as an ATM card, since it allows you to easily withdraw cash from your account through ATMs across the country. Given their importance in…
Read moreWhat is an OTP Number?
Posted on Wednesday, November 13th, 2024 |
Have you ever been asked for an OTP number during an online payment and wondered what it is? If you have found yourself asking, “What is my OTP code?” or “What is the full form of OTP?” you are not alone. OTP stands for One-Time Password. This is an important security feature in digital banking…
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