Free notes, textbooks, and exam-focused resources designed for Indian banking professionals.
The term ‘remittance’ is derived from ‘remit’, meaning ‘to send back’. While both bank transfer and remittance methods involve the transfer of money, remittance focuses on cross-border transactions dedicated to…
Amid the growing demand for the rollback of the Old Pension Scheme, the Union Cabinet, on Saturday approved the Unified Pension Scheme (UPS) for central government employees which is expected…
Service charges are intended to cover the cost of services provided by the bank. As per RBI guidelines, for basic charges rendered to individuals, banks will levy charges ad valorem…
Many commercial Banks more particularly all public sector banks deal with various Government business products and services. They cater the services for departmentalized Ministerial Accounts of Central Government, and State…
The Mahila Samman Savings Certificate Scheme was launched by the Department of Economic Affairs, Ministry of Finance to provide financial security to every girl and woman in India. The Department…
Electronic Benefits Transfer (EBT) is a system that allows eligible citizens to receive benefits from programs like the Supplemental Nutrition Assistance Program (SNAP) and Cash Assistance. EBT cards function similarly…
Mail transfer and telegraphic transfer (TT) are used to send money to accounts of the customers of the same bank from one place to another. Though increasingly convenient earlier; mail…
A demand draft (DD) is a pre-paid instrument that allows a bank customer to transfer money to another individual or business at a different destination. The demand draft is originated…
Section 72 of the Indian Contract Act provides that a person to whom money has been paid by mistake must repay or return the same to the person who has…
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