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Economics & Finance
Articles by Shirjeel Yunus
Page 15 of 23
What is the full form of RTGS?
What is RTGS? RTGS can be expanded as Real-Time Gross Settlement. RTGS is a money transfer system which can be used to transfer money from sender to recipient instantaneously. RTGS is being used successfully in 60 countries and the central bank of a country runs the service. RTGS is used to transfer money of high value and the minimum transfer amount should be ₹2 lakhs. You need to have the IFSC code of the recipient to whom money is to be sent. Other requirements for the recipient include his name, bank branch, account type, and account number. Both sender and recipient banks ...
Read MoreWhat is the full form of NEFT?
What is NEFT? NEFT stands for National Funds Transfer System. It is a centralized payment system and can be used all over India. The owner of NEFT is the Reserve Bank of India (RBI). NEFT is one of the fastest ways to transfer money between banks all over India. The bank branch must have to be enabled to have an NEFT transfer. NEFT can be used for online shopping, salary payment, bill payment, etc. How does NEFT Work? Here are the steps that have to be followed while sending money through NEFT. If you want to send money online, ...
Read MoreWhat is the full form of IDBI?
What is IDBI? IDBI stands for Industrial Development Bank of India. This bank was founded as a subsidiary of RBI in 1964. The bank was launched with the aim of providing credit and financial facilities to grow the Indian industries. The bank is headquartered in Mumbai and is a popular commercial bank in India. Aims of IDBI IDBI was launched to provide financial assistance to Indian industries in different ways It also helps to diversify different industries Provides assistance to the growth of those industries which help in the growth of India Provides support to different financial institutions ...
Read MoreSUV (Sport Utility Vehicle)
What is an SUV? SUV stands for Sports Utility Vehicle It has a tough look and has the ability to carry passengers as well as goods. People can have a feeling that an SUV is a light truck. These vehicles come with the feature of four-wheel drive. Types of SUV SUVs are of many types and they are discussed below in detail. Compact Crossover Compact Crossover is the smallest SUV and is also popular by the name of crossover cars. The vehicle comes with an all-wheel drive and resembles a car. These SUVs are fuel efficient as they are ...
Read MoreRTO (Regional Transport Office)
What is RTO? The full form of RTO is Regional Transport Office. This is a government department or agency that takes care of everything related to a vehicle whether issuing a driving license, transferring from one state to another, issuing different types of certificates, and many more. You can find an RTO office in each state and union territory Functions of RTO There are different types of functions performed by RTO and they are discussed here in detail Registration of a Vehicle Vehicle registration is one of the most important jobs performed by RTO. In this process, RTO provides registration ...
Read MorePAN (Permanent Account Number)
What is PAN? PAN can be expanded as Permanent Account Number. This is a 10-digit unique ID which consists of letters and numbers. The income tax department issues PAN this number to the people who have to pay taxes. Information related to tax-related transactions is recorded through this number. The types of transactions that are recorded in a database include − Tax collected at source (TCS Tax deducted at source (TDS) credits Income tax payments Return on investments Return on gifts Return on wealth PAN Card A PAN Card is issued to each individual by the tax department. ...
Read MoreINR (Indian Rupee)
What is INR? The full form of INR is the Indian Rupee which is the currency of India. It is the International Organization for Standardization currency code for Indian rupee and its symbol is₹. It got its name rupee from the rupiya which was a silver coin started by Sher Shah Suri. Indian Rupee comes in the form of coins and banknotes. You can find coins of one, 2, 5, and 10 rupees and above that only notes are available. RBI Role in Currency Management RBI is taking care of the Indian currency through the Reserve Bank of India Act ...
Read MoreHDFC (Housing Development Finance Corporation)
What is HDFC? HDFC can be expanded as Housing Development Finance Corporation. HDFC has been providing its services for the last four decades and has an association with the Indian housing sector. Mr. H. T. Parekh is the founder of the organization and has the aim of serving the customer first. The organization has interconnected offices all over India. Products and Services of HDFC HDFC provides many products and services to its customers and some of them are as follows− Loans for purchasing and constructing a house Loans for the purchase of land Loans for home improvement Loans for ...
Read MoreECS (Electronic Clearing Service)
What is ECS? The motto of digital India is to go cashless and there are many services and apps available which helps users to make cashless payment. One such mode of payment is CS which can be expanded as Electronic Clearing Service. It is a method that is used by big organizations to transfer funds in bulk electronically. ECS is used for transferring those funds that have to be sent periodically. This type of fund transfer includes fees, salaries, interest, pensions, loan installments, dividends, etc. Bills can also be paid and dues can be cleared through this method. It can ...
Read MoreWebflow Alternatives
Webflow Alternatives Webflow is a platform which can be used to design different types of websites. There are many tools available on the platform which are used for website design and development. These tools are hosting, content management systems, web design and development tools, and e-commerce. The web designer and development tool converts the design into code written in HTML, CSS, and JavaScript. CMS is a web development tool which is free from code. It consists of all the designer elements which can be used to organize the content that you want to publish. The e-commerce tool lets you make ...
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