Banking
Accounts, cards and payments, made clear.
Jan Dhan account: benefits, RuPay accident cover, overdraft and how to open
Pradhan Mantri Jan Dhan Yojana (PMJDY) gives anyone without a bank account a basic savings account with no minimum balance, a free RuPay debit card with accident cover of up to 2 lakh rupees, and an overdraft of up to 10,000 rupees for eligible holders. Here is what you get, the conditions, how to open one and how it links to the 436 and 20 rupee insurance schemes.
Read the lesson → BankingBank locker rules: what the bank owes you if things go missing
RBI's revised locker rules set what a bank owes you if your locker contents are lost: up to 100 times the yearly rent for fire, theft, building collapse or staff fraud. Here are the rules on the agreement, access alerts, nomination and rent.
Read the lesson → BankingHow a cheque clears today, and why cheques bounce
A cheque is a written order telling your bank to pay someone. Today it clears as an image, usually the same working day. Here is how it works, what positive pay is, why cheques bounce, and why a bounce can turn into a court case.
Read the lesson → BankingIf your bank fails, is your money safe? The 5 lakh rupee cover
If a bank in India fails, a government-backed insurer pays each depositor up to 5 lakh rupees, counting both the money and its interest. Here is what is covered, what is not, and how fast the money comes back.
Read the lesson → BankingNEFT, RTGS, IMPS or UPI: which bank transfer to use
India has four main ways to send money from your bank account: UPI, IMPS, NEFT and RTGS. They differ in speed, limits and when they settle. Here is which one fits which payment, in simple language.
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