MoboMoney electronic wallet launched by Tech Mahindra

Tech Mahindra, which got a mandate to start a payment bank from the Central Bank in August last year, has launched an electronic wallet called MoboMoney on Wednesday. It is the country’s first contact-less wallet, which works both at online as well as at brick and mortar stores. Characteristics of MoboMoney MoboMoney is a prepaid wallet issued More...

by gktoday | Published 3 years ago
By gktoday On Saturday, May 26th, 2012

Banks in India-Union Bank Of India

Union Bank Of India: Union Bank of India was inaugurated by Mahatma Gandhi more than eight decades ago. It is a Public Sector Unit with 55.43% Share Capital held by the Government of India. The Union Bank of India More...

By gktoday On Tuesday, February 14th, 2012

Financial terms-Depository Receipt.

A depository receipt is a type of negotiable financial security that is traded on a local stock exchange but represents a security, usually in the form of equity that is issued by a foreign publically listed company.  More...

By gktoday On Sunday, September 4th, 2011

Income Tax

Income tax is a tax paid to the central government on personal income. It is the direct tax paid on income by an individual or a company/firm within a given financial year. The Indian Income Tax department is More...

By gktoday On Friday, December 3rd, 2010
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Banking Terms-Reverse Repo Rate

Reverse Repo Rate Reverse repo rate is the rate of interest at which the RBI borrows funds from other banks in the short term . This is done by RBI selling government bonds / securities to banks with the commitment More...

By gktoday On Monday, August 2nd, 2010

Difference between a Demand Note and Promissory Note

Demand Note A Demand Note is a type of  paper money that was first issued between August 1861 and April 1862 during the American Civil War in denominations of 5, 10, and 20 dollars. Demand Notes were the first More...

By gktoday On Wednesday, February 3rd, 2010

Financial Action Task Force(FATF)

Financial Action Task Force (FATF) was founded by the G-7 countries in 1989 to develop and promote national and international policies to combat money laundering and terror financing. The membership of the FATF More...

By gktoday On Wednesday, February 3rd, 2010

13th Finance Commission of India

13th Finance Commission The 13th Finance Commission, which makes recommendations on sharing of tax revenues by the Centre and States, has suggested a new path for fiscal prudence in its report submitted to President More...