Entering ATM PIN is now compulsory when you use Debit Cards

RBI has made it mandatory to punch your PIN number, when you use your debit card on shopping outlets (Big bazaar, Petrol Pumps, Shops) from Dec 1 2013. I realised just few days back that this has already started. I was shopping for household things at a mall nearby and was asked to punch in […]


Recurring Deposits – How to get maximum benefit from them in your financial life !

Today I will talk about the simplest financial product known to me – the Recurring Deposit or RD as it is called. Most investors know about Recurring Deposits and have used them at some point of time. However, many investors are still confused regarding this straightforward product. Also, I will share tips on extracting the […]


How banks make money when you swipe your card and by lending your money to others !

During my school and college years, I often used to wonder– “How do Banks make money?”. I did not however put a lot of effort in understanding the subject and naively assumed that the government was running banks in order to provide services to its citizens and to shore up the country’s infrastructure. It was […]


Beware of Fake Email Scams asking for password & Critical information – Its a trap !

Some days back one of our readers forwarded an email to me, which he got in the name of SBI Bank and it was about some new scheme or feature launched. All he had to do was login to his account by clicking on the LINK given inside the email. He asked me over the […]


6 dumb mistakes which you make while writing Cheque’s – Dont do it !

One of the most common ways to pay money to someone is through cheque’s. Cheque’s give you the flexibility to make payments to someone at some later date (post dated cheque) by writing it now at this moment. Writing a cheque seems to be such a simple task, but do you know that there are […]


Merchants cant charge 2% extra on Debit Card Payments – Says RBI

Have you ever faced this situation, when you were making payment through your debit card or credit card? “Sir How are you making payment ? Debit Card or Cash ?” “Card” “Sir, There will be 2% extra charges if you pay by Debit Card ? ” “Why extra charges ? I use it at every […]


Rs 10,000 Income Tax Exemption on Saving Bank interest – Sec 80TTA

You can now save tax on an additional Rs 10,000 that you earn from savings bank interest. In the financial bill 2012, A new section called 80TTA was added to the Income Tax Act – 1961. This section allows an income tax deduction of up to Rs 10,000 to an individual or a HUF for […]


How to use NEFT or RTGS facitlity even if you dont have Internet Banking

I have already written about NEFT and RTGS sometime back and how does it work exactly. However today, I want to share about using NEFT and RTGS transfer offline in bank branches. Even in today’s time, if some one has to send money from one account to another account, they use cheques and demand drafts. […]


Everything you should know about Breaking your Fixed Deposits before Maturity

Today let me share the procedure and some points regarding the premature breaking of your fixed deposits. We have seen, that due to the ease of creating fixed deposits online, more and more investors create them if they are not able to find the right purpose of their surplus money and then in case of […]


Should you become Priority Banking Customer? Are their any advantages ?

Have you ever thought of applying for Priority Banking with your bank (also called as Preferred banking) ? A lot of banks offer something called as “Priority Banking Solutions” to their customers who qualify the eligibility criteria. A priority banking customer is treated in a more special way and is taken care with priority by […]


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