Microfinance is a financial service that provides small loans to people who are not served by traditional banking systems. These loans are often used to start or grow small businesses, which can help individuals and families escape poverty. Microfinance institutions often provide additional services, such as savings accounts and insurance, to help clients manage their … Read more
Small Finance Banks (SFBs) are specialized financial institutions in India that primarily focus on providing basic banking services to underserved and unbanked segments of the population. These banks were introduced by the Reserve Bank of India (RBI) in 2014 to promote financial inclusion and cater to the needs of small businesses, micro and small industries, … Read more
What is MICR code? MICR stands for Magnetic Ink Character Recognition. It’s a technology used primarily to identify and process checks and other paper documents in the banking industry. How MICR works Key Features of MICR Common Uses of MICR How to Find a MICR Code MICR codes are crucial for accurate and efficient processing … Read more
Finance, the very word conjures images of stock tickers, towering skyscrapers, and power suits. But what exactly does finance mean? It’s more than just money matters; it’s a complex ecosystem that touches every aspect of our lives, from buying a coffee to funding multi-billion dollar corporations. In this comprehensive guide, we’ll delve into the world … Read more
Imagine health insurance as a financial shield protecting you from high medical bills. However, this shield doesn’t kick in immediately. You have to pay a certain amount upfront before your insurance starts sharing the costs. This initial amount you pay is called the deductible. Think of it like a car insurance deductible. If you get … Read more
What is forbearance? Forbearance essentially means holding back or restraining oneself in a situation that could lead to a negative response. It’s about showing patience and tolerance instead of reacting impulsively or negatively. Forbearance is a valuable quality that can help you navigate various situations in life: Interpersonal relationships: It can help you maintain strong … Read more
What is forbearance? Forbearance essentially means holding back or restraining oneself in a situation that could lead to a negative response. It’s about showing patience and tolerance instead of reacting impulsively or negatively. Forbearance is a valuable quality that can help you navigate various situations in life: Interpersonal relationships: It can help you maintain strong … Read more
What is NFO in mutual fund? NFO stands for New Fund Offer, which refers to the launch of a new mutual fund scheme for the first time. It’s similar to an Initial Public Offering (IPO) for stocks, where the fund house is trying to raise capital to invest in assets based on the scheme’s objective. … Read more