Opening a bank account in axis bank

Share to Twitter Share to Linkedin Banks, in one fashion or another, have been central to functioning societies for hundreds of years. It’s estimated that in the U.S. nearly every single citizen ( 92% ) has an account with a traditional bank. One reason these institutions hold a majority of consumers’ accounts is because of their longevity: No matter what’s happening in the world, they tend to come out on the other side. Another reason so many people rely on traditional banks is that, until fairly recently, the only other options they had were other banks with fairly comparable offerings. When digital challenger banks and fintechs (think: Chime, Ally Bank, SoFi) began arriving on the scene, consumers had more banking options than ever before. These new banks have been able to appeal to consumers in ways that traditional banks have not–with low or no fees, a mix of low-interest borrowing and high-interest saving options, digital interfaces, fresh, … [Read more...] about Why This Fintech Company Is Eyeing Traditional Companies As It Builds A New Breed Of Banks

Startups are hard, hard work. You're probably stepping out of your comfort zone for the first time and in addition to taking a chance on your idea yourself, you're also taking on the responsibility of other people in your employ. It is stressful, and rightly so. A lot of startups fail in the early years , and while most of these failures are related to a lack of innovation, or the right business model, there are still some that succumb to unforeseen setbacks. Even with the right idea, and a strong business case, what challenges most startups in the early stages is that you have a small team, and great ambitions. And this core team doesn't necessarily have someone representing each area of the business, which can become a challenge, particularly where technology is concerned. From an IT and infrastructure standpoint, startups need to create secure apps and websites that work across all mobile devices, navigate data security for their website and app users, and deliver … [Read more...] about Taking Care of Business, with API Banking by IDFC FIRST Bank

Payments through the Unified Payments Interface (UPI) accounted for more than half of all digital transactions in India in FY22 (2021-22), suggesting rapid adoption of the technology that was launched just six years back. In FY22, UPI accounted for 52 percent of the total 8,840 crore financial digital transactions with a total value of Rs 126 lakh crore, the government noted in its pre-Budget Economic Survey. In FY19 (2018-19), UPI accounted only for about 17 percent of the country's total 3,100 crore digital transactions, the Economic Survey noted. On average, between FY19-22 (calendar year), UPI transactions grew 121 percent in terms of value and 115 percent in terms of volume, the survey noted. In December 2022, UPI touched its highest-ever mark with 782 crore transactions worth  Rs 12.8 lakh crore, according to the Economic Survey. The Economic Survey further noted that UPI has processed 2,922 Read More According to the survey, India took the lead with … [Read more...] about Economic Survey 2023: UPI accounted for 52% of India’s total digital transactions in FY22

As a startup founder, knowing how to navigate different sources of finance for your startup is a pivotal skill. Not all sources of finances augment your business in the same way, neither do they have similar costs nor do they offer the same level of freedom. Strategically applying each source of capital at the right stage to the right set of expenditures is key here. Let's begin with the sources. Bootstrapping This is when you tap into your own savings, or that of your friends and family circle, to get your business started. This is the stage where you need maximum freedom to try new things, and work out whether or not your business idea has the potential to become a real business. What this means is that this is also the stage when you're going to make a lot of mistakes. Your 'investors' can't (and shouldn't!) question your every move. That level of trust, however, usually comes from your own bank account, and from the friends and family who implicitly trust you, and your … [Read more...] about Startup Finance 101: When should you approach banks?

Bank of America ( BAC ) is one of the world's largest investment banks and financial institutions. It serves a broad range of customers, including individual consumers, wealthy investors, large corporations, and governments. The company offers a wide range of banking, investing, asset management, and other financial and risk management products and services. The bank operates primarily in the U.S., where it gets the vast majority of its revenue, as well as in dozens of countries around the globe. The company faces a broad array of competitors, including JPMorgan Chase ( JPM ), Citigroup ( C ), Goldman Sachs Group ( GS ), credit card issuers like Visa ( V ), hedge funds, and private equity firms. The Charlotte, North Carolina-headquartered company expanded from a regional player into a global giant through a series of major acquisitions in the past several decades. Key Takeaways Bank of America is one of the world's largest investment banks and financial … [Read more...] about How Bank of America Makes Money: Consumer Banking

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Compensating for two lost years of capacity expansion in the transportation sector, Finance Minister Nirmala Sitharaman announced a massive increase in the government’s allocation for the roads and railways in her Budget 2022 speech in Parliament on February 1, Tuesday. The Budget outlay for the Ministry of Road Transport and Highways has risen 68.5% to Rs 1.99 trillion (from Rs 1.18 trillion in FY22). The government-run National Highways Authority of India’s budgetary outlay in the coming fiscal is set to rise by 133% to Rs 1.34 trillion from Rs 573.50 billion in FY22. Allocations to the government’s flagship scheme for rural roads - the Gram Sadak Yojana - have risen to Rs 19,000 crore in FY23, from Rs 15,000 crore in FY22 budget estimate. The Ministry of Railways’ budget allocation … [Read more...] about Budget 2022 opens coffers wide for road, rail investments

Share to Twitter Share to Linkedin Last month I was asked to appear on a BBC local radio show to talk about customer service and why often it can be so hard to make a complaint to a company. The request came on the back of a recent story featured on the BBC’s website that talked about how Richard Edmonds had £8,500 stolen from his bank account when criminals tricked him into giving them access to his account. After realizing what had happened, he and his family then waited for 20 hours on the phone before they could get help. The bank has subsequently apologized and has also agreed to refund the money stolen. This story is not uncommon and points to what can happen when a customer has a question or a problem that can’t be answered by a knowledge base article, solved through the use of self-service tools or via an interaction with a customer service agent. Moreover, an incident like this can often happen when the issue requires somebody in the middle … [Read more...] about We Need To Talk About The Messy Middle Of Customer Experience

Share to Twitter Share to Linkedin Tax Notes Capitol Hill reporter Doug Sword discusses the latest national sales tax proposal in Congress, and contributing editor Robert Goulder shares his thoughts on the challenges of implementing the tax. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I'm David Stewart, editor in chief of Tax Notes Today International . This week: supersize sales tax. In the process of organizing the newly elected Congress, proponents of a plan to implement a national sales tax got a commitment to have their plan considered. The so-called fair tax would replace the income tax system and do away with the IRS. Now, this isn't a new proposal, but one that has been given new life. To learn more about it, first we'll hear from Doug Sword, a Tax Notes reporter who's been following this issue in Congress. Later, we'll talk with Tax Notes contributing editor Robert … [Read more...] about A Closer Look At The National Sales Tax Proposal

PHOTO: Pannika Wanich, former Director of Communications for the Future Forward Party - Thai PBS World Members of the recently formed Progressive Movement have hit back at suggestions that party donations have been mismanaged. The party, rising from the ashes of the now-disbanded Future Forward Party, says the allegations are nothing more than politically-motivated slander. Its critics accuse the Progressive Movement of the misappropriation of more than 7.7 million baht of public funds. In a statement issued by the party, they say that on May 1 and 2, they held a number of fundraising concerts to support artists and others facing financial hardship as a result of the lock-down. Members say they used party funds and donations to pay for the staging of the events, totalling over 7.7 million baht. Between May 1 and 3, over 15,000 deposits were made into the bank account of party member Pannika Wanich, formerly the Director of Communications for the Future Forward Party. The … [Read more...] about Progressive Movement hits back at allegations of donation mismanagement

The Nifty remained highly volatile but managed to close 13 points higher at 17,662 on January 31, a day ahead of the Union Budget 2023 to be presented in Parliament by Finance Minister Nirmala Sitharaman. Buying in banks, auto, FMCG and metal stocks supported the market, however, selling in technology, pharma and oil & gas stocks capped the upside. The benchmark index formed a bearish candle on the daily charts with long lower shadow, indicating support-based buying. It surpassed the resistance level of 17,700 in the opening but could not hold on to it. The level of 17,700 could be the initial hurdle on the budget day followed by 17,800-18,000. The index has strong support at 200 daily exponential moving average (DEMA) at 17,550), which it defended for third consecutive day on January 31. A break can bring more selling pressure, experts said. Read More "The Nifty found resistance near 17,750. As long as the index is holding the 17,500 support zone, the … [Read more...] about Technical View | Nifty forms bearish candle, more volatility expected on Budget Day