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Zero balance account. 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. The main advantage of this ...
Charge-off. A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off .
The Reserve Bank of India’s directive, which goes into effect on Friday, requires banks, financial institutions and payment gateways to obtain additional approval for auto-renewables ...
The Public Provident Fund ( PPF) is a voluntary savings-cum-tax-reduction social security instrument in India, [ 1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The scheme's main objective is to mobilize small savings for social security during uncertain times by offering an investment with reasonable returns ...
At a $7.5 billion valuation, up from just a little over $1 billion last year, Razorpay is now one of India’s most valuable fintech startups. But getting to this stage hasn’t been easy. The co ...
CRED, an Indian fintech startup, has rolled out a new feature that will help its customers manage and gain deeper insights into their cash flow, as the CRED's Money will help customers manage and ...
Balance of payments. In international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world. In other ...
3. Transfer the balance to the new credit card. While each credit card issuer’s balance transfer process is slightly different, it’s usually a simple process you can likely complete in a few ...