1. What is Inter Bank Transfer? Inter Bank Transfer is a special service that allows you to transfer funds electronically to accounts in other banks in India through: NEFT: NEFT: The acronym NEFT stands for National Electronic Funds Transfer. Funds are transferred to the credit account with the other participating Bank using RBI’s NEFT service. RBI acts as the service provider and transfers the credit to the other bank’s account.… Read More »FAQ – RTGS/NEFT

FAQ – PMJDY: Pradhan Mantri Jan-Dhan Yojana

Source: SBI Website Q1. What is Pradhan Mantri Jan-Dhan Yojana? ANS : Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a National Mission on Financial Inclusion. The plan envisages universal access to banking facilities with at least one basic banking account for ‘every adult’, financial literacy, access to credit, insurance and pension facility. Q2. How is PMJDY different from the earlier Financial Inclusion Plan (Swabhimaan)? ANS : PMJDY focuses on coverage of… Read More »FAQ – PMJDY: Pradhan Mantri Jan-Dhan Yojana