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Category: Banking

Digital Knowledge Hub

Paid Survey Compensation – Factors That You Have to Consider For Cash Compensations

Paid surveys, though not really a big cash earning system, are one easy way of bringing in a little extra pocket money which is just why it has become very popular through the years. Paid surveys can compensate you in many ways, although the most preferred compensation is still cash. However, there are some factors…
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The Importance of an IFSC Code in Your Fund Transfer

When you are sending money, you want to ensure that your funds reach the intended bank. Transferring funds to the wrong bank can cause multiple problems, the transaction cannot be automatically reversed. You would have to contact your bank, discuss what happened and potentially wait an extended period of time for your money back. If…
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Nature of Reserves-Funds or Provisions

The amount saved is set aside for any of the following five purposes: (a) for meeting future liability or loss; (b) for strengthening the financial position of the business; (c) for fulfilling some specific purpose; (d) for redeeming a liability; (e) for replacing a wasting asset. (f) There are two ways in which the amount…
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What Is Bitcoin and Is It a Good Investment?

Bitcoin (BTC) is a new kind of digital currency-with cryptographic keys-that is decentralized to a network of computers used by users and miners around the world and is not controlled by a single organization or government. It is the first digital cryptocurrency that has gained the public’s attention and is accepted by a growing number…
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Branch Accounting – Understanding the Basics

Branching Out When an enterprise, whether for profit or non-profit, grows or strategizes expansion, it usually opens additional locations. Banks, coffee shops, supermarkets, department stores, restaurants, beauty salons, airlines, and even government offices may operate in more than one location, domestic or foreign, to cater to the needs of their customers or clientele. Such additional…
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Bitcoin in a Nutshell

Bitcoin has almost become a household name with ever increasing coverage in the media, and fair to say its notoriety continues to increase. So what’s all the fuss about? Bitcoin appeared around 2009 as a new form of digital currency and was develop from the off as open-source by a clever chap called Satoshi Nakamoto.…
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What is UPI

“Unified Payment Interface” (UPI) enables all bank account holders to send and receive money from their smartphones without the need to enter bank account information or net banking user id/ password. Where can UPI be used? UPI can be used to send and receive money from individuals or to pay directly to merchants. What is…
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