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Introduction Every bank has a separate headquarters, a physical setup to run its business operations, and individual branches disseminated at distinct locations across the world. Initially, the banking system started offline until fintech models swept off our feet with its quirky traits. Though new banking systems like digital banking and mobile banking garnered enough attention in the financial space, traditional banking is still considered a safe line for many. What is traditional banking? Traditional banking refers to the process of carrying financial transactions at offline bank branches, either depositing or withdrawing funds from your respective accounts. This system allows ... Read More
A better way to build a future is by saving well today. But this won’t happen if you keep your hard cash lying idle in your lockers instead of somewhere else, say, a bank, where you can earn some additional money in the form of interest. To harness this situation, banks came up with checking accounts - one stop solution for your money parking problems. Although you have a salary or a personal savings account, you can still open a checking account and manage your finances. As the tutorial narrates about the checking account, what exactly is it? And ... Read More
Introduction The payment system in the banking world has seen a huge transformation over the past few years. The rise in technological advancements gave rise to new financial applications, enabling the processing much smoother and convenient. These digital tools reduced the need for carrying cash to any external locations. Thanks to smartphones, it has facilitated transactions virtually anywhere via the internet. This kind of framework led to the origin of e-wallets in the financial space, enhancing the access to multiple financial resources. So, what exactly are these wallets? Are they a game-changer in the payment platforms? Define ... Read More
Introduction The level of risk differs for everyone as it depends on various activities conducted by the business or person. So, whether you are an individual or organization, you have to learn about the risks linked to your regular dealings. Since risk is something that’s uncertain, knowing how to encounter it upon happening aids you to be a step ahead in the game. Risks are two types, namely, systematic and unsystematic. The former type of risk cannot be unavoidable, as it’s inherent in nature impacts the entire market on a whole, including geographically and economically. Some of the ... Read More
Introduction There are numerous talented and artistic minds with crafty skills out there in this world. Woefully, most go unnoticed due to lack of proper talent supporting and monetization platforms. As they say, where there’s a will, there’s a way - the internet has created just that. It helped creators to showcase their works online in the form of pics and videos. But the sad truth is that you don’t have rights on what you post or share on the internet. The content or the data you post can be used by anyone. Since it’s a free public ... Read More
Introduction Every business need funds for expansion purposes like opening a new facility, or buying high-end machineries, or anything for that matter. The favourable yet a legit source to get funds is from a bank or a financial institution. Fig 1: Commercial Loan This kind of credit lending is referred to as a commercial loan. Also known as business loan, this debt facility is granted to businesses to meet their specific financing needs and facilitate their day-to-day activities. Let’s take a look at their types, pros and cons, and other particulars in here. Explained: Commercial Loan A commercial ... Read More
Introduction Proper cash flow is very important for any organization to run its business operations smoothly and efficiently. Big multinational corporations face cash flow problems more often because of multiple reasons like inefficient sales, low profitability, investment in diverse businesses, high debts, etc. No company wants to witness negative cash flow that puts their business in peril or risk. Now, to be on the top of the game, it’s crucial for a company to have a positive cash flow, resulting in healthy long-term growth. So, how long does a company take to reach the cash flow position? Define ... Read More
Introduction Small-scale industries contribute a fair share to the country’s GDP. Any investment made in this sector not only augments wealth but also improves employment in the economy. Now, for small industries to go to the next level, they need extra capital in their accounts. These types of businesses are significant for overall growth and economic development. The government came forward to support MSMEs by launching multiple schemes, and one of them being MUDRA loans. So, how exactly is this initiative helpful for the MSMEs? What are MUDRA loans? MUDRA loans is a credit financing scheme launched by ... Read More
Introduction The advent of innovative technologies and the incessant growth of smartphone users has given rise to new opportunities in the banking sector. The traditional banking, initially a popular system, slowly withered from peoples’ sight and got replaced by mobile banking. This new approach enables customers to make their financial transactions virtually via the respective banking application. Unlike the traditional banking where an account opening itself used to take days to go live, with mobile banking, the same task happens in minutes. Define Mobile Banking As the name suggests, mobile banking is the process of carrying out financial ... Read More
Introduction India is considered as one of the largest consumer of gold in the world. As per World Gold Council, India sits at 11th position for having substantial gold reserves. Whether it’s a wedding or a function or any festival, Indians go for gold shopping as a way to commemorate any occasion. But what’s the purpose of buying gold and keeping it to ourselves when you can lease the shimmering metal to make additional returns? As gold does not attain any interest, leasing can add value to the asset and let you earn some quick gains. For ... Read More