A credit score is a numerical representation of an individual’s creditworthiness. It is used by lenders and financial institutions to determine the likelihood that a person will repay a loan on time. A credit score is based on an individual’s…
The transaction limit for Aadhaar Enabled Payment System (AEPS) transactions per day is currently set by the National Payments Corporation of India (NPCI), the governing body for retail payments in India. The current transaction limit for AEPS transactions is Rs.…
AEPS service is banned in pin codes – As of my knowledge cut-off in 2021, AEPS (Aadhaar Enabled Payment System) services were not banned in any specific PIN codes in India. However, the usage of Aadhaar-based services, including AEPS, has…
What is credit card? A credit card is a payment card that allows you to borrow money from a financial institution or lender to make purchases or payments. When you use a credit card to make a purchase, the financial…
An e-mandate is an electronic instruction that allows a financial institution or service provider to automatically debit funds from a customer’s bank account for a recurring payment or transaction. E-mandates are typically used for regular bill payments, loan repayments, and…
In the context of SIP (Systematic Investment Plan), NAV (Net Asset Value) refers to the value of one unit of the mutual fund scheme in which an investor has chosen to invest. When an investor starts a SIP, they are…
Mutual funds are subject to market risk because they invest in stocks, bonds, and other securities that are traded on stock markets, bond markets, and other financial markets. These markets are subject to various types of risks, such as economic,…
What is share market? A share market, also known as a stock market or equity market, is a marketplace where shares of publicly traded companies are bought and sold. In a share market, investors buy shares of companies with the…
NPCI stands for National Payments Corporation of India, and it is a non-profit organization that operates retail payment systems in India. NPCI was founded in 2008 and is promoted by the Reserve Bank of India, the country’s central bank, along…
What is repo rate and reverse repo rate? Repo rate and reverse repo rate are both monetary policy tools used by the central bank of a country to influence the amount of money in circulation in the economy and to…
