IMPS – Immediate Payment Service, all you must know.

The Immediate Payment Service (IMPS), which allows account holders to connect a bank account and transfer funds via mobile phones 24x7x365. Since February 2012, about 15 banks have made the…

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NACH (National Automated Clearing House) – all you need to know.

What is NACH? NACH stands for National Automated Clearing House. It is a centralised payment system for financial institutions, corporates, banks and the Government. NPCI (National Payment Corporation of India)…

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RTGS: All you need to know about Real-Time Gross Settlement.

The term “Real-time Gross Settlement” or RTGS transfer refers to a particular type of fund transferring system. It enables you to transfer money from your bank to someone else’s account in…

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NEFT (National Electronic Fund Transfer) – charges & timing, you must know.

Gone are the days when people need to visit the bank for every transaction. Fetching out time from a busy schedule to visit a bank is a very daunting task….

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Open Banking – Emerging Banking 2.0 in India.

Introduction Open banking in India is in a very nascent stage. It is due to fact that the Indian banking system focuses more on security and privacy. Think of open…

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UPI: All you need to know as a Customer And Merchant.

What is UPI? UPI stands for Unified Payment Interface. It permits us the transfer money from one bank account to another instantly through a smartphone. Payments can be made through…

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