Electronic money exchange has become one of the catalysts of an E-commerce payment system. With the hype in Online shopping & banking in the Digital world, there is a widespread upsurge in online payment transactions in India.
"As per Statista, nearly 660 million Indians are accustomed to the use of Online Payments that will contribute to approximately 2.2% to the world's digital payment market."
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Prepare a list of the essential elements of your everyday life apart from the 3 basic needs of food, water & shelter. What falls on your priority & imperative list that can't be missed at any cost, without which it seems like your life would come to a halt?
"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight-of-hand that was ever invented." - Josiah Stamp "Gold and Silver are Money…Everything else is Credit."- J.P. Morgan
Ask yourself, Do you Live to Work or Do you Work to Live? Probably the majority of us will go with the latter. Each one of us works to give ourselves and our family the lavish lifestyle that we have always dreamt of. But in the present scenario when we all are stuck amidst the pandemic crisis, an excessive recession, the shutdown of businesses, no prospective way to earn income through investments the primary concern & struggle for every family is to earn enough to sustain a livelihood. Also, the human tendency to be futuristic never fails to persist. As times have passed humans have become highly dependent on machines, instead of machines being controlled by humans. Digitalization and technology as a matter of fact have traversed into every sector of the economy and machines have become an essential part of everyone’s life. Going online and being digital is extensively followed by all industries, be it entertainment, medical, hospitality, government services, or even banking! Nowadays, it is said that we carry the bank wherever we take our phone or tab, this is because banks have introduced digital banking for all their services and other customer assistance. The various e-services offered by the banking sector of today are transfers, e-payments, e-stamping also known as a franking, and others. What is franking? Franking is the process of getting important documents stamped, imprinted, embossed, or affixed with stamps, markings, and logos stating that the documents franked are authentic, original, and legal. A franked document also conveys that the stamp-duty and the fee charged has been paid fully and successfully. It is in-general the electronic way of stamping duty provided by banks. Here are the different benefits of franking As computers have made life easier, the internet has made lives even easier. Digital banking has made banking effortless and anytime just at the fingertips. Similarly, stamping has also digitalized and this is called franking and here are the advantages of it- Convenience Franking is a highly convenient way of stamping and authenticating documents as it is electronic and you just need to click a few buttons and a document is franked and ready to be delivered. Speed Franking is in a way digital stamping, as we all know machines are quick at getting things done. Franking too is the quick machined processing is done, that gives out franked/stamped documents in a few minutes. No manual operating This is one task where there is no requirement to keep inkpads and stamps at banks anymore and there is no requirement for the hiring professionals to carry out this menial task anymore. As franking is a machine operated stamping method working on electricity with a digital platform. Fewer expenses As there is a minimal amount of equipment, time and effort put behind the entire process of franking, the expenses incurred to get a document franked are highly affordable and nominal, though the charges vary from bank to bank, they are easy to pay off. Accountability When you get e-stamping done, it also stores the documentation charges in the record so that you can claim full expenses when there is a tax return appeal. This helps in keeping track of postage costs across various departments. Searching for the most professional franking facilities in town? Shree Vinayak Sahakari Bank is has become a notable name, due to its efficient, secure, and highly authentic franking facilities. We offer this facility in the best sense and at the most affordable stamp duty in town. Our team of highly skilled professionals also get you pre-printed stamp papers where the cost is levied on the cost of the papers. When you get franking done from us, all you need to do is just sign the documents and get them registered as stamp duty cleared documents. We provide secure, efficient, and dependable banking services to all sectors and individuals of the economy, be it an entrepreneur or an individual, we are there for you! We are a professional financial institution benchmarking transparency, credibility, and innovation in the financial sector. We also offer special benefits for senior citizens, and also nomination facilities so that all the financial needs and requirements of our consumers are fulfilled. Banks not only provide safe-keeping facility for money and other valuables. They also provide quality short-term and long-term investments so that the urgent and hefty financial needs of all customers are met, in return for the idle money deposited in the banks. Banks provide resourceful and highly beneficial investment options, such as fixed deposits, recurring deposits, and daily recurring deposits. What is a daily recurring deposit? When you are young and on your toes, there is enough finance to meet your daily needs, as you are working and have different ways to earn money. But, once you hit 60 or become a senior citizen, you can rely only on your savings and your kids and close ones to fend for you. That is not true, you can go on forward towards the banking sector to fulfill your requirements of the latter years.
Banks have great money-saving and financial advantages, just for your section of society! As we all know the Covid-19 pandemic or the novel coronavirus has caused grave loss to the entire world economy, irrespective of what sector you work in be it the retail sector, the entertainment sector, or even the banking sector.
Claws Of Corona on the banking domains! Corona hasn’t spared anyone. The financial sector has faced a loss of about 56.22 trillion in March itself. The pandemic has changed the way of banking, if not completely then to a great extent. Like every other business, they too! have taken deeply to the online world following digitization, there is a requirement for manual work only where necessary. The other banking services and functions are easily available online or on digital media. The virus has spread into all the banking domains be it’s commercial banking, retail banking, corporate banking, union banking, and co-operative banking. The sectors most affected in the banking front are Corporate Banking and Commercial Banking. Let’s take a closer look at how the virus has hampered both! A safe deposit locker is a highly secure, individually maintained container held with a bank or a financial institution in a larger area called a vault, wherein the account holders or facilitators can safely keep all their valuables ranging from ornaments, antics to documents and other papers away from any sort of damage and thefts. The safe deposit locker service like other services is available against a fee paid by the customer on a monthly or yearly basis in advance. Nowadays booking lockers can be done effortlessly on the online medium of the bank or the financial institution too, so it is not compulsory for you to visit the bank branch for availing the safety deposit locker. Now let’s take a look at the benefits this financial instrument offers you! In today’s era, everyone has a mobile phone and a bank account. The phone is used for various purposes and in these technologically fast times, mobile phones are also used to extend out towards the finance and the banking sector through different methods and channels such as messages, calling, chats, and the quickest of all the missed call banking method. What is missed call banking? Personal banking is the banking service or product offered by banks and financial institutions to retailers and the common public rather than businesses and different entities. Personal banking includes savings and transaction facilities like bank transaction account, debit cards/EFT, interest bearing account and fixed interest account for term deposit varying from bank to bank. It also enables various debt benefits such as mortgages, loans, credit cards etc.
Advantages of Svsbl personal banking |
AuthorWelcome to Shri Vinayak Sahakari Bank Ltd. Established in 2001 the bank is skillfully managed as a Financial Institution. Archives
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