This article will guide you about how to open an account with a bank. Herein before opening a bank account was very simple. A person desiring to open an account was required to simply fill in an account opening form get himself introduced by a person known to the bank by virtue of his being an old account holder or [...]
This article throws light upon the top five instruments used for making and receiving payments. The instruments are: 1. Cheques 2. Demand Draft 3. Banker Cheque 4. Pay Orders/Payment Orders 5. Transfer Pay Orders. Instrument # 1. Cheques: A cheque is a bill of exchange payable on demand and is drawn on a banker. A cheque is not cash, as [...]
This article throws light upon the six main types of electronic based payment systems used in India. The types are: 1. Retail Payment Systems 2. Electronic Retail Payment Instruments 3. Card Based Payment System 4. Real Time Gross Settlement System 5. High Value Clearing Systems 6. NEFT. Type # 1. Retail Payment Systems: Retail payments are transactions which can typically [...]