Benefits of a Joint Fixed Deposit

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If you are seeking a safe and stable way to grow your savings, a fixed deposit (FD) is the way to go. Among the different types of FDs, a joint fixed deposit is an ideal option if you want to share the investment amount and benefits with a family member or partner.   A joint FD…

What is the Cash Reserve Ratio and its Impact on the Economy?

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Have you ever thought about how banks manage the funds that are deposited? Or why do regulations ensure financial institutions do not lend out every rupee they receive? These questions bring us to the concept of the Cash Reserve Ratio (CRR). Understanding CRR is essential, as it considerably affects the economy, impacting everything from inflation to…

Accrued Interest – Definition, Example & How to Calculate it?

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When was the last time you checked your bank statement? Did the interest credited seem lower than expected? You might not be accounting for accrued interest. It is key to calculating interest earnings and payments. If you deal with loans, bonds, or savings accounts, knowing what accrued interest is, is crucial.  What Is Accrued Interest?…

Why do Sole Proprietors in India Use a Current Account?

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A sole proprietorship is the simplest and most common form of business structure in India. The term “sole” indicates single, and “proprietor” refers to the owner, meaning that one individual owns and manages the entire business. This individual has complete control over all operations and decisions but also bears full personal responsibility for the business’…

Current Account Hacks for Small Business Owners: Saving Time and Money

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Managing a small business is no simple task. From ensuring smooth operations to managing finances, the responsibilities are endless. Your choice of a current account can make a significant difference in saving both time and money. By leveraging the right account features and banking services, small business owners can optimise their financial management and focus…