Category: Banking

187 ViewsFor many businesses engaged in international trade, an LC (Letter of Credit) is a crucial tool to reduce risks and ensure smooth transactions. This financial instrument helps facilitate secure payments between buyers and sellers while minimising trust gaps. In this article, we explore how businesses use LC for paymentto build and strengthen global trade relationships. What is LC and How It Works in Trade? A Letter of Credit (LC) is a financial guarantee issued…

730 ViewsWe are experiencing a digital revolution that has impacted almost every aspect of our lives. From shopping and entertainment to managing our finances, there is an online solution for everything. The banking and financial sector has accepted this digital revolution with open arms. Internet banking, net banking, has emerged as a convenient and secure way to manage money. This article explores the top reasons why you should consider adopting net banking. 1.  Convenience and…

1,333 ViewsKarnataka Bank Net Banking is an online banking service provided by one of India’s largest banks, Karnataka Bank. It enables customers to securely and conveniently access their bank accounts and conduct online banking transactions. You must first complete the Karnataka Bank Net Banking registration process before attempting to log in to Karnataka Bank Net Banking. Going to the official Karnataka Bank website, filling out the registration form with the necessary information, and creating login…

915 ViewsCompanies are seeking ways to streamline their operations and maximise profits. An approach that gained considerable traction is outsourcing non-core functions, such as accounting. Outsourced accounting has numerous benefits that can help businesses thrive and succeed in their respective industries. This article discusses the concept of outsourced accounting and explores the significant advantages it brings to businesses. Considering outsourced accounting in Thailand, particularly Bangkok, can be a strategic move to achieve financial efficiency and…

1,145 ViewsWhat is a Demat Account? Opening a demat account is mandatory for investors to trade in the share market. A “demat” account or a dematerialised account is an electronic account that lets an investor trade in certain financial instruments, such as equities, commodities, gold, IPOs, bonds, Government securities, and more.It eliminates the hassles to maintain hard copies at the same time and is 100% secure. It provides an electronic platform that not only lets…

1,003 ViewsWhile both types of accounts are used for financial transactions, they serve different purposes and have different features. Here are the key differences between a current account and a capital account- Purpose A current account is primarily used for conducting day-to-day business transactions, such as making payments and receiving funds. On the other hand, a capital account is used for investment purposes, such as investing in shares, securities, and mutual funds. Nature of Transactions…

926 ViewsToday, the banking world has advanced by bounds and leaps. There are many ways in which person can easily save their money and conduct transactions with banks. Of course, the current account is the best option in all banking accounts that allows you to make big transactions in a day. This fact gains people’s attention, and they want to know more about it, like meaning, benefits, documents required, etc. If you are also one…

963 ViewsAre you tired of feeling like your accounting process is shrouded in mystery? Do terms like “double entry bookkeeping” and “balance sheets” make you feel confused and overwhelmed? Try not to panic. In this guide, we will break down the concept of open accounting so that anyone can understand it. From defining key terms to providing real world examples, we’ve got you covered. So, let’s dive into the world of open accounting together and…

1,152 ViewsDo you want to start your own business? If yes, you should know the basic requirements to run your business smoothly. One of the main requirements to start your business is to apply for an axis bank current account  Usually, there are two types of bank accounts, a current account, and a savings account. This article will tell you the detailed facts of the current account, including the eligibility to open it. What is the…

1,024 ViewsIn today’s world of technology, the online account opening is a very easy procedure. The process of opening the bank account completes in very less time. The online method of opening an account saves you time. It is a good option to open a bank account online rather than opting for the offline method. The best online banks provide the high-interest rates than traditional banks. These types of banks offer low fees or charges. Further, we…