Banking

 The concept of Insurance is not new at all for us. Instead, each of us is primarily obsessed with getting multiple Insurance done such as health insurance, life insurance etc. Have you ever wondered and asked yourself whether you are covered with cyber fraud insurance? Mostly the general insurance plans do not include cyber fraud insurance. So, the next question you ask yourself is: Do you require the Insurance against cybercrime ? The answer to this question is a clear Yes; you do need cyber fraud insurance. Need for Cyber Insurance Let us assume that one of your colleagues or employees is going through his or her mail, and they receive a link that says to open it and update the software they use. However, the email states that it is from Microsoft, so you assume it surely be must be legal and ethical. The employee to adhere to the timeline click on the link to continue their link. However, that email was not secure and on clicking would disturb the system. However, the employee ...

 Want to make an overseas payment? Perhaps the gap year for your daughter has turned out to be more expensive than she's been negotiating for or are you buying a good little beachfront bungalow in Mexico? Whatever the cause, you'll want to be on the lookout for the best offer to do so when you move money overseas. To help you get a better picture of what you're looking for, we've gathered some of the essential International Money Transfer (IMT) features that could affect your transfer here. Rate of exchange After the online money transfer is completed, the exchange rate decides how much foreign currency you can end up with. Comparing rates and finding the best deal around is crucial especially if you're moving large amounts of money. A small exchange rate difference could mean a big difference in the final figure! Fees IMTs often come with hidden fees that can add up quickly and reduce the amount of foreign currency you get out of a transfer substantially. There wi...

 What is a digital savings account? The digital saving account that of a niyo savings account means one can open a saving account anywhere. The digital saving account does offer multiple features, such as: · Virtual Debit Card, · Customer verification via Video KYC · Cashback on online spends The individuals who like to do everything digitally for them, the digital savings account is a saviour. Guidelines on how to open a digital savings account? Opening a digital account is extremely easy. Here are the following steps you need to follow: Step 1: There are multiple digital accounts available. Hence, after a glance, you need to select the digital account you wish to open, and also, you would be required to verify yourself. Step 2: Verification can be done with an Aadhar card, Pan Card, and giving the address and mobile number. Step 3: The next step is to key in all the personal details that the bank would require Step 4: KYC is done online for opening a digital savings account, so...

 Making payment overseas takes a total toll on one person who does not have proper means to transfer the money. Well, many companies provide the facility of transferring the money with the best deals. Whatever the reason might be when you have to transfer money from any place to overseas, you'll have to look at some of the best deals to do so. There are a few features and benefits that come with transferring money online. Today many companies provide the facility of transferring money with best deals that are inevitable. If you want to share money with your parents, or your children, or your wife or doesn't matter any other reason you should be mindful of the exchange rates. Although it might be tempting to transfer money straight from the bank account, it is imperative to understand the pros and cons of online transferring money directly through your bank accounts. There are some benefits of using the provider solely focused on the traditional transfer of the money. And along ...

  With the Covid19 outbreak, the central banks globally have infused an incredible amount of liquidity in the markets to prevent the economic fallout. There is no difference for the Reserve Bank Of India as the apex body has also announced a slew of measures to handle the distress. Under various tranches, including a digital savings account, the RBI has lowered the repo rate to 4 percent. It earlier back in 2019, stood at 6 percent. The aggregate reduction in FY20 was 160 bps. But the current argument is that transmission of the interest rate with regards to digital savings account is not as swift as it should be. Recently, the most accepted benchmarks are the lending rate, which is defined by the MCLR or base rate. Furthermore, it is also linked deposit rate, which has to be altered first as it goes into the cost of funds. The loan is most likely to get repriced immediately. On the other hand, new and renewed deposits go at the new rate. The average cost's impact is most like...