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The Government aims to reduce the number of such zero balance accounts by using this and related schemes. [3] Now all bank account holders can avail this facility through their net-banking service facility or filling a form at the bank branch at any time of the year. [4] The premium is deducted automatically from the insured's bank account.
Pradhan Mantri Jan Dhan Yojana (transl. Prime Minister's Public Finance Scheme) is a financial inclusion program of the Government of India open to Indian citizens (minors of age 10 and older can also open an account with a guardian to manage it), that aims to expand affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions.
In finance, a Zero Balance Account (ZBA) is a system of cash pooling (to consolidate the cash balances of several subsidiaries of a single company). This system is designed to leave in the current accounts of the subsidiaries the minimum amounts to be able to deal with their debts contracted.
One such offer is a zero balance account, which offers businesses an effective way to optimize cash management, improve liquidity, reduce borrowing costs and streamline financial operations.
IDFC First Bank (stylised as IDFC FIRST Bank) is an Indian private sector bank based in Mumbai. Founded in 2015 as a banking subsidiary of IDFC Limited , it shifted focus from infrastructure financing to retail banking in the years after its 2018 merger with Capital First . [ 6 ]
The government aims to reduce the number of such zero balance accounts by using this and related schemes. [7] Now, all bank account holders can avail this facility through their net-banking service facility at any time of the year. [8] [9] The policy will be canceled if there is no balance in the account. The policy will lapse in case the bank ...
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IDFC was incorporated on 30 January 1997 by Government of India, with its registered office in Chennai, and started operations on 9 June 1997. In 1998 the company registered with the Reserve Bank of India (RBI) as a Non-Banking Financial Company (NBFC). In the year 1999 the company was notified as Public Financial Institution. [5]