A small finance bank, also known as SFB, is a financial institution established to offer financial services to a small group of customers. These banks generally serve in niche areas such as offering loans, accepting deposits, and facilitating insurance-based services. All in all, these are the banks that provide specified services mentioned under the financial …
NBFC and banks are separate financial intermediaries providing financial services for customers. NBFC stands for non-banking financial company and their financial intermediaries like banks. However, the registration process and major functioning can differentiate both financial intermediaries. So, please read this article to learn about both and understand how they are different from each other. NBFC: …
Cash credit is a short-term loan that companies and businesses get to meet their working capital expenditure. An overdraft is a facility given by the bank to individuals and companies. So, they can withdraw money from their bank account, even if there is a low, zero, or below the balance. Most people and small businesses …
Do you have a bank account, and have you submitted the updated KYC form? As per the RBI’s guidelines, every bank account holder must submit their latest KYC form. And if they have changed their location, then it is also essential to update it by filling the KYC form of the relevant bank. But most …
How to Change Name and Address in SBI Bank Account? Read More »
Banks are an essential part of any economy as they help fill the financial gap at various levels. It can be described as the financial institutions that borrow money from depositors on a fixed interest rate. They provide various services to their customers and charge a small fee. According to RBI’s official website, currently, there …
Difference between Commercial Bank and Cooperative Bank Read More »
Your hard-earned money needs to be preserved. So, how do you protect your earning? All those ancient days were gone when people used to preserve money on their properties. What’s the point of storing money in your home’s locker when it’s not safe due to the rise in pilfering cases? However, one of the most …
Most of us use a variety of services provided by banks, but do we know how banks make money. Probably you do not know how they generate revenue. So, if you want to know how banks earn profit in different ways. Then stay on this blog and scroll down to get the information about the …
Are you about to establish a small business to cater to the local communities? So, opening a current bank account is one of the inevitable requirements during the inception of your business. Innumerable private and public banks are there offering attractive current account facilities. But, how do you pick one among them? Isn’t it challenging …
5 Best Banks for Current Account for Small Business in India 2023 Read More »
