Any bank account whether savings/current where no financial transactions are made (other than interest credited by the bank or service charge levied by the bank) over a period of 12 months, is termed as Inactive account. And if the period continues up to 24 months the bank declares the account Dormant or Inoperative.
I just can’t think of going out without my ATM cards. I shop online, pay taxes, transfer money and it all starts with a saving account. With this many features and benefits associated with this, there isn’t actually a single reason why you should not open a Savings bank account.
The Credit cards brings us a lot of convenience. But, if we are not careful enough it can get us some serious financial mess. It’s important that we understand the rules and use it responsibly and wisely.
Internet banking, Mobile banking and now Tab banking. Thanks to the technological innovation, the banking industry in India has evolved dramatically. Up Until a couple of years ago, banking operations were being conducted manually. Banks were doing everything manually —maintaining ledgers, calculating interests and issuing passbooks, demand drafts, pay orders etc. But now, the scene […]
My last blog on this massive financial inclusion drive named as Pradhan Mantri Jan Dhan Yojana(PMJDY) clearly shows how Mr.Modi has successfully set a milestone, within just 100 days of his ministry. But there is a different side of the story. Much before the whole country begun to sing Modi’s praise, the scheme had already started […]
Pradhan Mantri Jan Dhan Yojana, a scheme to financially empower the poor, was flagged off by prime minister sri Narendra Modi on 28th august this year. To start with the title, unlike previously rolled out govt schemes with stereotypical ones, PMJDY was selected through a contest on Mygov website launched by Mr Modi last month […]