Personal Finance

Sure, the word “remittance” is defined as: remittance: The act of sending money or other financial assistance to someone. Synonyms:– Transfer- Payment- Disbursement- Remittance payment- Remittance Antonyms:– Receipt- Acquisition- Receiving Examples: The recipient of the remittance was grateful for the help. The company’s remittance fees are very high. The government is working to reduce remittance […]

The marginal standing facility is a lending facility provided by banks to their customers as a source of overdraft protection. It is used to cover any overdraft fees that might arise due to inadequate funds in the customer’s account. Here are the key points about marginal standing facility in Indian banking: Purpose: To provide safety […]

Scheduled Bank A scheduled bank is a banking institution that is regulated by a central authority, typically a national government, and operates under a set of rules and regulations. Scheduled banks are typically larger and more complex than other types of banks, such as savings banks or credit unions. They offer a wide range of […]

A debit card is a plastic payment card that electronically deducts money from your bank account when you make purchases. It allows you to make purchases in stores, online, and over the phone. There are two main types of debit cards: traditional debit cards and prepaid debit cards. Traditional debit cards: Issued by your bank […]

Sure, here is a definition of demand deposit: A demand deposit is a type of deposit account that allows the depositor to withdraw funds on demand, without notice, at any time. It is also sometimes referred to as a checking account because it is commonly used for day-to-day transactions, such as paying bills or making […]