Money Guide India

What is Mobile Money Transfer?

Mobile Money Transfer or SMS Money Transfer is a service which allows the user to send money to another person using standard text messages securely. The service offers huge convenience for the mobile subscribers and added value from the operator. The service can be used to make payments, send money home (like for ex-pats) or be [...]

What is Mobile Money Transfer? is a post from: Money Guide India

What are the Different Types of Balance Sheets?

The balance sheets prepared for small companies or a person are simple balance sheets. But the balance sheets of huge companies are complicated and dense. If the large business has many sections or parts, they may prepare different balance sheets for every section.

What are the Different Types of Balance Sheets? is a post from: Money Guide India

Top 7 Ways to Invest Your Money Now for a Tension Free Life Ahead

You may be leading a happy life now. But do you see yourself happy once you are off the job? The fact is that most of you may not be! By investing wisely you can get the ball in your court. So how can you be a wise investor? A wise investor is one who puts a share of today's hard earned money in a money generating or multiplying scheme. Here is the list of most popular money investment schemes that throws out more money.

Top 7 Ways to Invest Your Money Now for a Tension Free Life Ahead is a post from: Money Guide India

What are Self Cheques?

Self cheques are the cheques you will use to withdraw money from your own account by filling the payee section as “self”. Hence, the name self cheque. In older times, it was the sort like ATMs Cards of modern days. If you wanted cash, just sign a cheque assigned to yourself and produce at bank. Cashier [...]

What are Self Cheques? is a post from: Money Guide India

How Is Money Created?

Well, that is what this excellent animated video is telling us. Even though it is an US targeted video, there are many things that us Indians can learn from. Also you can learn how corrupt US money system is. If you want to know the fundamentals of money, then this is the video you cannot [...]

How Is Money Created? is a post from: Money Guide India

What are Stocks?

Stocks refer to a share in the ownership of a company. This means that if you have shares of a company you are also partly an owner of the company. Stock represents a claim on the company’s assets and earnings. Your ownership stake in the company becomes greater as you acquire more stock. Shares, equity, [...]

What are Stocks? is a post from: Money Guide India

What are Fixed Deposits?

Putting your money in the banks for specified periods is also a form of investment, as it brings in returns in the form interests. These returns may be small compared to some of the other options, the risk element is little. Deposits accepted by banks for a specified period of time are called time deposits. The [...]

What are Fixed Deposits? is a post from: Money Guide India

Mutual Funds – Dabble In Stocks With Less Risk

If you are keen to take the benefits of higher-risk areas like stocks and bonds, and yet do not feel confident about it, mutual funds could be the answer. Mutual funds are professionally-managed firms of collective investments. They collect money from many investors for trading and invest in stocks, bonds, short-term money market instruments, and/or other [...]

Mutual Funds – Dabble In Stocks With Less Risk is a post from: Money Guide India

Why do Companies Issue Stock?

Why do companies turn willing to share their profits with thousands of people when they could keep profits to themselves? At some point or the other every company needs to raise money for its expansion or likewise. In order to raise money the company can borrow it from someone or can raise money by selling a [...]

Why do Companies Issue Stock? is a post from: Money Guide India

Internet Banking Frauds – How To Prevent It?

Is internet banking 100% secure? Unfortunately it is not. In spite of all the security measures, frauds do take place, even though rarely. However, you don’t need to worry, since banks across the world have learned to be alert against such attempts. Types of Internet Banking Frauds Phishing Phishing operates by sending forged e-mail, impersonating an [...]

Internet Banking Frauds – How To Prevent It? is a post from: Money Guide India

How Can We Bank At Home Using Internet Banking?

What internet banking does is to bring banking right into your home. All you need is a computer with an internet connection. Let us see what this is about.. Customers are allowed to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society. There are many common features [...]

How Can We Bank At Home Using Internet Banking? is a post from: Money Guide India

What are Demand Drafts?

The Demand Draft is a device used to transfer payments from one bank account to another. Like a cheque, a Demand Draft also is a negotiable instrument. This instrument is used by most banks in India for the effective transfer of money. Demand drafts are comparatively a more secure method of cashing cheques, and hence [...]

What are Demand Drafts? is a post from: Money Guide India

What is IFSC?

IFSC stands for Indian Financial System Code. The Indian Financial System Code (IFSC) is being used as the addressing code in user-to-user message transmission in the structural financial messaging system (SFMS). These codes are used by the Payment System Applications such as RTGS, CFMS and NEFT developed by the Reserve Bank of India. The code consists [...]

What is IFSC? is a post from: Money Guide India

Internet Banking – How Does It Work?

Internet banking works mostly like traditional banking. The basic difference is that all that you do with your bank account is through a computer – whether you’re accessing your account and information, making payments or reconciling statements. Instead of going to the bank’s nearest branch, you can do all this with a click on your [...]

Internet Banking – How Does It Work? is a post from: Money Guide India

What is NEFT/RTGS?

National Electronic Fund Transfer (NEFT) is an online system for transferring funds of financial institution, especially for the banks in India. This service is used mainly to transfer funds below Rs 100000. The instant funds transfer system, known as the Real Time Gross Settlement(RTGS) cannot be used for an amount below Rs. 1 lakh by the [...]

What is NEFT/RTGS? is a post from: Money Guide India

How RBI Controls Other Banks

India’s central bank is the Reserve Bank of India (RBI). Reserve Bank of India monitors, formulates and implements India’s monetary policy. Established in the year 1935, Reserve bank of India was nationalized in the year 1949. Owned fully by the Government of India, Reserve Bank has are 22 regional offices in various state capitals of [...]

How RBI Controls Other Banks is a post from: Money Guide India

What is SWIFT Code?

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. It is needed for interbank wire transfers. SWIFT was founded in Brussels in 1973. It operates a world wide financial messaging network. It was started to establish common standards for financial transactions and a shared data processing system and worldwide communications network. The messages between banks and [...]

What is SWIFT Code? is a post from: Money Guide India

Banks in India

The central and supreme money authority in India is the Reserve Bank of India. All other banks come under its control. The classifications of the banks are shown in the diagram below. At present in India we have 88 scheduled commercial banks (SCBs) – 28 public sector banks in which the Government of India has a [...]

Banks in India is a post from: Money Guide India

What are Current Accounts?

Current accounts are cheque operated bank accounts maintained for mainly business purposes. Unlike savings bank accounts, no limits are fixed by banks on the number of transactions permitted in the account. Banks generally insist on a higher minimum balance to be maintained in current account. Considering the large number of transactions in the account and [...]

What are Current Accounts? is a post from: Money Guide India

What is Online Banking?

Internet banking takes normal banking one step further. It helps customers to access their accounts online. They can make transactions and make changes in their personal details in the account sitting right at home. Every major bank also offers information online, on the services provided by them.

What is Online Banking? is a post from: Money Guide India