What Is a Zero Balance Account (ZBA)?
A zero-balance account (ZBA) is pretty much exactly what it sounds like: a checking account in which a balance of zero is maintained. When funds are needed in the ZBA, the exact amount of money required is automatically transferred from a central or master account. Similarly, deposits are swept into the master account daily. Corporations […]
Recurring Deposits
The Reserve Bank of India, has over the years introduced various schemes to educate the public on how to save money. One of the key directives issued by RBI was the introduction of term deposits and the interest applied on such schemes. As per clause 2(iv) of RBI Master Circular dated 16th March 2004, Term […]
Importance of Credit Score
Have you ever wondered how lenders decide if you qualify for credit? Well, each person has a credit file which carries a score that decides importance Have you ever wondered how lenders decide if you qualify for credit? Well, each person has a credit file which carries a score that decides importance of credit score […]
Banks and Banking Systems in India – Origin and Evolution
What is a Bank? Most of us are familiar with the banks and banking systems in our daily life as we must have seen our parents either drawing out cash or making deposits into their bank accounts. Back in the day, some of us would have accompanied them waiting in the long queues of the […]
