Tag: Bank Account

Residential status differs in I-T and exchange control laws

I got US citizenship in February and have been staying in India since 15 April. I have received an overseas citizenship of India (OCI) card....

What the changes to Deposit Insurance Act mean for investors

In a major relief to depositors of troubled banks, the Union Cabinet on Wednesday approved an amendment to the Deposit Insurance and Credit Guarantee Corporation...

Four things to understand while availing of doorstep banking

Doorstep banking (DSB) is an initiative by the PSB Alliance, an umbrella setup of all public sector banks, to provide primary banking services at your...

Things to know before opening a savings bank account

When opting for a bank account, don’t just look at the interest rates. Most banks have segmented savings bank accounts based on your needs. The...

How to reactivate dormant bank account

NEW DELHI: A bank account can turn dormant if not used for two years. When an account turns dormant, the depositor cannot avail of the...

What to do if your details are leaked in a data breach

A data breach can lead to your sensitive details becoming public. In the Domino’s data breach that happened recently, a customer’s email, order details, address...

Your PF balance will earn interest for 3 yrs

I have one Universal Account Number (UAN) with my previous bank account, which is not working due to fraud. I use a different bank account...

Limited number of senior citizens could avail ITR filing exemption: Experts

To provide relief to senior citizens aged above 75 years, the government, in its Budget 2021, has proposed an exemption for them from filing income...

Axis launches Liberty Savings Account aimed at millennials; all you need to know

Axis Bank has launched a new savings account called the Axis Liberty Savings Account, aimed at millennial customers. It offers customers the option of maintaining...

Can’t maintain minimum balance? Know why it’s better to close the bank account

Reena Dhiman, 32, who needed money, thought of redeeming some of her old debt mutual fund investments. But she got a rude shock when her...

Don’t replace bank accounts with instant-redemption liquid funds

Liquid funds are often suggested as an alternative to savings bank accounts for parking extra cash or emergency funds as they give slightly better returns...

Liquid funds offer instant redemption facility. Here’s what you need to know

Under this facility, investors can withdraw up to ₹50,000 per day almost instantly on any given day throughout the year. Normally, if you redeem your...

Should you open an account with a neo-bank?

To make banking more convenient and meaningful, some financial technology companies are launching neo-banks. These startups are partnering with traditional banks and offering better solutions...

Private lenders resort to video KYCs for opening accounts

MUMBAI : At least four private sector lenders– Kotak Mahindra Bank, IndusInd Bank, RBL Bank and IDFC First Bank — have started using video for...