NACH stands for National Automated Clearing House. It was formed by the NPCI (National Payments Corporation of India). Both NACH and NPCI are regulated by the RBI ( Reserve bank of India). NACH took place of ECS (electronic clearing service) on May 1, 2016. What is NACH? It is a centralized payment solution. It is a…
Most of the times, banker or your Insurance Advisor or Mutual Fund Advisor must have asked you to send a copy of cancelled cheque. You might wonder – What is this cancelled cheque & Why do they need it? CHEQUE A cheque is a document that orders a bank to transfer a specified amount of…
UPI – Full form UPI stands for Unified Payments Interface. What is UPI? It is a vastly used digital payment method through which a user can transfer and receive money instantly through a VPA (Virtual Payment Address) or UPI id . It is developed by NPCI and regulated by RBI (Reserve bank of india). It…
SWIFT Code – Full form The Full form for SWIFT is Society for Worldwide Interbank Financial Telecommunications. Why SWIFT Code is required? As all of you know, IFSC (Indian financial system code) is required in bank to bank money transactions within India. It is a bank and branch identifier code. It is used for all…
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What is Put Call Ratio? The put call ratio is one of the most popular method used by investors to understand whether the market is in an overbought zone or oversold zone. It means that whether the market will tend to go up or fall down. It is the most popular indicators of the direction…
What is co-payment in health insurance? Health insurance is a type of insurance in which a policyholder gets some benefits for medical expenses that arise from an illness. Health insurance does not cover all medical expenses of an individual. Health insurance companies pay a large portion of one’s medical expenses but some amount of the…
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UNIVERSAL TRAVEL PASS Universal Travel Pass are the new passes for the people travelling in this time of difficulty of the covid-19 pandemic. Due to the pandemic, there were a lot of restrictions imposed on travelling. These restrictions on travelling caused great difficulty to the people travelling for work. So, to make the life of…
What is the meaning of Proposal? A proposal is a suggestion or plan which is proposed to someone for the acceptance or to think upon to take further actions. It can in both the forms oral or written but for legal & business terms it is suggested that a proposal should be in written form.…
What is the indifference curve? An indifference curve is a graphical representation of consumer satisfaction with two goods or commodities in various combinations. The satisfaction of two goods combinations is equal at all points(bundles) of the curve, so it is called the indifference curve. These combinations show through a table called the indifference schedule. For…
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What Does DEBITED Mean in a Bank ? Every time when you go to withdraw money via ATM or check , you receive a message on your registered mobile number that X amount of money is debited from your bank account . So in this situation , DEBITED means withdrawal of money from your total…