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What is MICR Code? Understanding its Role in Banking Transactions
If you have used or even seen a cheque book, you must have noticed a few code numbers located at the bottom of every cheque leaf. This is a unique code for only bankers to decode and it plays an important role in banking transactions. This code is known as the Magnetic Ink Character Recognition (MICR) Code. Through this blog, you will get a thorough understanding of what an MICR Code is and its purpose in banking.
Understanding EMI: Full Form Meaning, Calculation, and Factors
Know what EMI is, the full form of EMI, its meaning, definition, calculation methods, and factors affecting it. Learn everything about Equated Monthly Installment with this comprehensive guide from Bank of Baroda.
Understanding FCNR-B Account: A Secure and Advantageous Option for NRIs and PIOs
In today’s highly interconnected world, individuals often find themselves navigating international waters, either for work, education, or business. Non-resident Indians (NRIs) and People of Indian Origin (PIOs) are no strangers to this global movement, and as they traverse international landscapes, they often look out for solutions to manage their foreign earnings efficiently. One such financial instrument that caters to their needs is the Foreign Currency Non-Residential –Bank (FCNR-B) account, which will be thoroughly explored in this blog.
Understanding Cheques: Types, Features, Filling, Cancellation & Requests
A widely used mode of cashless payment is the cheque. Even in the age of digital banking , it continues to be significant in the banking industry. It is used in both small and large transactions. It can be used in various transaction types, from paying an employee to clearing utility bills. This mode of payment is preferred by many as it involves the convenient and secure transfer of funds. One can read further to know more about cheques, starting from a cheque definition to the different types of cheques.
10 Personal Finance Ideas to navigate Global turbulence in 2023
There is wide consensus that various developed economies could face recessionary pressures in 2023 post the steep rate hikes that all major economies across the globe have witnessed. While we can’t know for sure when uncertainties may arise or how much they would impact us, it is always a great idea to be prepared with contingencies. Here are the top 10 ideas to mitigate any financial risk especially in the background of global economic slowdown. From automating your finances to building up an emergency fund, these methods will help you weather any possible financial storm.
What is the Full Form of CVV
CVV Card Verification Value is a 3-digit code printed on the back of the credit or debit cards provided by the companies that make the bank cards. This is also the card security code or the card verification code. A protective and security layer that guards online data when the card is swiped at the POS machine or during online transactions, CVV details cannot be stored by vendors.
Introduction to Baroda Startup Banking
The banking requirements of startups have evolved to such an extent that the banking industry is devising new ways and technologies to cater to their unique and specialized banking needs.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) - A Complete A-Z Guide
Ever seen a poster at your bank or received an SMS from your bank or from GOI about Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). If so, do you know what it is? Well, it is a scheme offered by the Life Insurance Corporation and other life insurance companies who have joined the PMJJBY scheme and tie-up with banks for the same.
5 Reasons Why a Gift Card Makes Ultimate Present
At weddings, birthdays, thread ceremonies, anniversaries etc. you, your family and friends are flooded with unimaginative and useless gifts. Gifts are to be treasured but often you don't know what to do with most of them. Sometimes receiving big boxes of stuff of someone else’s fancy may be disagreeable, similarly choosing a gift for someone else promotes palpable trepidation for the giver. So why not choose a better option that would make sense for both? No, I am not talking about something as inelegant as cash, instead choose something that is steeped in sophistication, like a bank gift card.
Bank of Baroda Debit Card Offers
At Bank of Baroda, we believe that a debit card should do more than just help you withdraw money. Hence, we aim to provide many offers on Bank of Baroda Debit Cards. The Bank of Baroda debit card can help you enjoy discounts on your favourite brands from various industries such as entertainment, health, food, lifestyle, and travel.
New Bank Locker Rules 2022
Banks rent out lockers to their customers who wish to safeguard their valuables. It is a paid service that you can obtain, typically with a bank with which you have an existing account. The Reserve Bank of India (RBI) routinely issues and updates the guidelines for bank locker usage. It recently revised the bank locker rules and regulations in January 2022. Read on to learn about the new guidelines and how they impact customers.
