Learn the fundamentals of banking with simple and easy-to-understand guides. Explore banking terms, IFSC codes, NEFT, RTGS, savings accounts, current accounts, cheque books, and other essential banking concepts for beginners.
The banking sector is a vital component of the country’s economic system. Consequently, appropriate regulations and controls are essential for establishing and conducting banking operations in India. Under the provisions for the licensing of banking companies, obtaining a license from the Reserve Bank of India (RBI) is mandatory before commencing banking operations. The RBI grants … Read more
What is Meant by NPA in Banking? Imagine This…Ramesh took a loan of ₹5 lakh from a bank to start his own small business. For the first few months, he paid the EMI on time. However, due to sudden losses in the business, he was unable to pay the instalments for three consecutive months. In … Read more
What is the MICR Code in a Cheque? Ramesh received a cheque for ₹50,000 from his customer and subsequently deposited it at the bank. He expected that the funds would be credited to his account within a day or two. However, it took a little longer than expected for the cheque to clear. After enquiring … Read more
How to Find an 11-Digit IFSC Code: This morning, Pooja was trying to urgently send ₹15,000 to her brother. After entering the account number in the Mobile Banking App, the transaction repeatedly fails. Finally, she realised that the money was not being transferred due to entering the wrong IFSC Code. This problem happens to thousands … Read more
What is Banking? Learn what banking is, its definition, types, functions, benefits and complete information about digital banking in simple Marathi. Useful guide for students and banking customers.