Banking & Finance
Current accounts, business loans, working capital, payments, credit scores and everyday business banking.
Banking & Finance articles
29 articlesInvoice Discounting and Factoring: unlock cash from receivables
Invoice discounting and factoring let businesses get cash against unpaid invoices. Learn how each works and the difference between them.
CIBIL Score: meaning, full form and uses
A CIBIL score is a 3-digit credit score (300–900) that reflects an individual's or business's creditworthiness based on their credit history. Lenders use it to assess loan applications.
How EMI is Calculated: understand your loan repayment
An EMI is a fixed monthly loan repayment covering principal and interest. Learn how EMIs are calculated and why early EMIs are mostly interest.
KYC (Know Your Customer): meaning, full form and uses
KYC is the process by which banks and financial institutions verify the identity and address of their customers, as mandated by RBI, to prevent fraud and money laundering.
FIRC (Foreign Inward Remittance Certificate): meaning and full form
A FIRC is a document issued by a bank confirming receipt of a foreign remittance. It is proof of export earnings for exporters and freelancers.
NBFC (Non-Banking Financial Company): meaning, full form and uses
An NBFC is a financial institution that provides banking-like services (loans, credit, leasing) but does not hold a full banking licence and cannot accept demand deposits. NBFCs are regulated by the RBI.
How to Open a Current Account: documents by business type
Opening a business current account needs KYC and proof of business. Learn the documents required for a proprietorship, partnership, LLP and company.
CC / OD (Cash Credit / Overdraft): meaning, full form and uses
Cash Credit and Overdraft are working-capital facilities that let a business withdraw more than its account balance up to a sanctioned limit, with interest charged only on the amount used.
Mudra Loan: meaning, full form and uses
Mudra loans are collateral-free loans up to ₹10 lakh (enhanced under the scheme) for micro and small non-farm enterprises, provided under the Pradhan Mantri MUDRA Yojana in three categories — Shishu, Kishore and Tarun.
Cash Credit vs Overdraft: working capital finance explained
Cash credit and overdraft both fund working capital, but differ in security and how the limit is set. Learn the difference and when to use each.
CGTMSE: meaning, full form and uses
CGTMSE is a credit guarantee scheme that enables micro and small enterprises to obtain collateral-free loans by guaranteeing a portion of the loan to the lender.