Information about bank accounts, FD, RD, PPF, SSA, interest rates, KYC, ATM rules, and government banking schemes explained simply.
A loan you closed years ago still shows as “active”. A credit card you never took appears on your report. A settled account is marked “written off” or a payment you made on time shows as late. If any of these sounds familiar, your credit report has an error, and RBI rules give you a…
Rule in one line: for cheques of ₹50,000 and above, your bank must let you confirm the cheque details in advance, and for ₹5 lakh and above it may insist on it. That is the Positive Pay System, which RBI introduced for cheque clearing from 1 January 2021. It takes a minute in your banking…
Is online shopping switched on for your debit card, or only for the card you actually use? Is international usage turned off on every card except when you travel? Does your old, unused credit card still allow contactless taps? Card controls answer all three questions. Since 16 March 2020, the RBI has required every bank…
Meena, a 41-year-old teacher in Pune, has ₹3 lakh to put in fixed deposits. She is torn. A 3-year FD pays more than a 1-year one, but she might need some of the money for her son’s college admission. And if rates rise, she does not want everything locked in at today’s rate. An FD…
“It’s a fixed deposit, so it must be as safe as a bank FD.” That assumption is the most common mistake people make with an NBFC fixed deposit. Company deposits from NBFCs often pay more than bank FDs, but they work under different rules. The biggest difference: DICGC deposit insurance does not cover them. The…
NEFT vs RTGS vs IMPS: which one should you use? All three move money between bank accounts and all three now run 24×7. The differences are in speed, minimum amount and what the bank may charge. Here is the comparison, from RBI’s own FAQs. NEFT vs RTGS vs IMPS at a glance Point NEFT RTGS…
Meena keeps ₹1,20,000 in her savings account “just in case”. Most of it earns the savings rate. With an auto-sweep account, the bank would move the extra into fixed deposits by itself and pull it back when she spends. This is how a sweep-in FD works, using SBI’s Savings Plus Account as the worked example,…
Report within three working days. That one rule decides whether you lose nothing or something when money leaves your account without your permission. Under RBI’s customer protection rules, how much of an unauthorised transaction (made electronically) you bear depends on who was at fault and how fast you told the bank. Here is the checklist,…
Will your FD rates go up now that RBI has raised the repo rate? From today, Sunday 11 October, some already have. Shriram Finance’s revised fixed deposit table took effect today: 7.00% for 12 months, 7.50% for 24 to 35 months and 7.85% for 36 to 60 months, before any add-ons for senior citizens. Bajaj…
Meera, a teacher in Nagpur, found three subscriptions charged to her debit card on the same morning. She had forgotten about two of them. All three were mandates she had registered once and debited every month after that. RBI’s Digital Payments – E-mandate Framework, 2026, issued on 21 April 2026, collects every earlier rule on…