Banking

Bitcoin to be Available Hundreds US banks in 2021

CNBC has heard that Bitcoin could be taking another turn toward mass acceptance. According to crypto custody company NYDIG, clients of certain U.S. banks will shortly be able to purchase, retain, and sell bitcoin from their current accounts for the first time. According to the two companies, the venture, which is a subsidiary of $10 …

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Highest FD interest rates, Best Fixed Deposit Schemes in India

Individuals seeking to build a lump sum corpus for their long-term goals like children’s education, marriage, etc or planning for their golden years may find themselves in a soup now. Marred by low-interest rates and high market volatilities, the current economic conditions make it quite challenging for anyone to find the right investment avenues. Lets …

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Top Risks in Banking and Financial Services for 2021

Financial institutions are increasingly attractive to cyber-criminals because of their valuable data. Over 25% of malware attacks are directed at the financial sector, and the threat is expected to grow as more US financial institutions digitize their operations. The most common cyber risks in banking and financial services in 2021 include: Data theft. Malware strains. …

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Digital Banking in the New Normal – How Covid-19 has Impacted the Payments Landscape

Recent studies have proven that the coronavirus can remain active on banknotes for up to 4 weeks. Customers, understandably concerned about hygiene, are increasingly seeking alternative payment methods that reduce physical contact at points of purchase (POS). In this way, the COVID-19 pandemic has radically increased the retail banking industries with online payment methods, contactless …

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Sandeep Bakhshi, CEO ICICI Bank on Plans Around Moratorium and COVID-19 Related Provisions

Here are the measures undertaken by one of the top private bank – ICICI Bank to safeguard the balance sheet against the pandemic. It also covers Mr. Sandeep Bakhshi, ICICI Bank’s MD and CEO’s take on how he is tackling potential risks and uncertainties The current scenario has tested the resilience of banks while dealing …

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Income Tax Slab, Deductions, Limitations in India – A.Y. 2021-22

Most of the people don’t know that they are paying tax on everything. Here we are going see about income tax slab for financial year (FY) 2020-21 under new tax regime as well as under old tax structure, income tax deductions for assessment year (AY) 2021-22, 80C deduction for FY 2020-2021, income tax exemptions, limitations …

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Systematic Deposit Plan – Best Saving Option

The Indian financial market offers a diverse choice of best saving option for prospective customers. An investor has the option to select from a number of market dependent schemes, or investments offering assured returns, depending on their risk-appetite, systematic deposit plan, financial requirement, and investment capability. One such newly introduced quick savings tool is the …

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Top 5 Tips – How to Reduce the Home Loan Burden

Individuals are likely to avail substantial funds as a home loan that leads to sizable EMIs for an extended period. Thus, it may often increase financial obligations to some extent. You can search tips on how to reduce the home loan burden or how to clear loans faster or how to get rid of home …

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Myths and Facts About NRI Account Rules in India

Many Indians prefer to settle in foreign lands for better job prospects, earning money and completing higher studies. The Indian banking system has provided the facility of NRI accounts to operate all the financial activities from the different parts of the world. Before opening a NRI accounts in India, it is always advise that you …

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What is Retail Banking? Role and Services Offered by Retail Banking

Retail Banking is the provision of consumer-oriented services to individual consumers. This does not include services to companies, corporations, entrepreneurs or other banks. In financial services, retail banking refers to financial services offered by a financial institution to consumers who are not themselves financial organizations. In this topic, let us understand what is retail banking, …

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