Latest posts
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Understanding the Role of Banks in Development
Introduction to Banking in Development Banks play a crucial role in the development of economies by providing essential financial services. They facilitate savings, offer loans, and manage transactions that significantly contribute to economic growth. Understanding their functions helps to appreciate how they can influence development positively. Financial Services and Economic Growth The impact of banks…
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The Role of Banks in Economic Development
Introduction to Banking and Development Banks play a crucial role in the economic development of a nation. They facilitate capital mobilization, provide credits, and serve as lenders to both individuals and businesses. The functions of banks extend beyond just holding deposits or providing loans; they also contribute to overall economic stability and growth. Capital Mobilization…
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UFBU Calls Off Nationwide Bank Strike on 24th and 25th Mar 2025 After Assurances from Finance Ministry and IBA
In a significant development on March 21, 2025, the United Forum of Bank Unions (UFBU) has decided to call off their two-day nationwide strike, which was originally planned for March 24 and 25. This decision was made after the UFBU received positive reassurances from both the Finance Ministry and the Indian Banks’ Association (IBA) regarding…
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What is Positive Pay System
Positive Pay System was introduced by Reserve Bank of India 2020 vide circular no RBI/2020-21/41 DPSS.CO.RPPD.No.309/04.07.005/2020-21 dated 25.09.2020. Financial frauds are big concern with increase of digitalization. To prevent check fraud and make transactions secure, banks have implemented Positive Pay System, that is a strong fraud prevention mechanism that protects account holders from unauthorized or altered…
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NEO Banking – A Future Digital Banking, Development Scope, Threat and Challenges
What is Neo Banking? NEO banks are the banks which has no physical branches. NEO Banks are digital only financial institutions that operate exclusively online through websites and mobile apps. The financial services industry has undergone massive transformations from manual to Core Banking and now digital without any physical branch. the evolution of banking has been marked…
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BANKING OMBUDSMAN AND ITS ROLE
The Banking Ombudsman is an authority created by the Reserve Bank of India (RBI) to address customer grievances regarding banking services. It provides a cost-free, quick, and impartial resolution process for complaints against banks. Customers can file complaints if they are dissatisfied with the services of a bank or have not received a satisfactory…
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Understanding ETFs Uses, Returns and Comparison with Mutual Funds and Stocks
Exchange-Traded Funds (ETFs) have gained popularity among investors for their unique features and benefits. In this blog, we’ll explore the uses of ETFs, their potential returns, how they differ from mutual funds and stock investments, and their safety profile. What is an ETF? An ETF is a type of investment fund that trades on stock…
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Why is JAIIB Certification Important?
Junior Associates of the Indian Institute of Bankers (JAIIB) is a professional certification program offered by the Indian Institute of Banking and Finance (IIBF). IIBF was established in 1928 and offers various courses related to banking career enhancement. 1. Skill Enhancement The JAIIB certification program offers a comprehensive curriculum that equips banking professionals with…
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Online Banking Security – Tips to Protect Your Information
Digitalization is the need of the hour and it is happening very fast across the world. In today’s digital age, online banking has become need for managing finances. While the convenience of accessing your bank account from anywhere at any time is available, it also comes with its own set of risks. Cybercriminals are constantly…
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MCLR or RLLR – Which one is more beneficial
RLLR Repo Linked Lending Rate was introduced by RBI in Oct 2019. From 2019 to 2024, changes in *Marginal Cost of Funds-based Lending Rate* (MCLR) and *Repo Linked Lending Rate* (RLLR) would have influenced borrowers differently based on various factors, including changes in RBI policies, market conditions, and interest rates. 1. MCLR (Marginal Cost of…