The National Electronic Funds Transfer (NEFT) is an electronic payment system that facilitates direct one-to-one payments across the country.
Using this facility, you can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country that is a part of the NEFT scheme. You can also make NEFT transfers using digital modes of internet banking and mobile banking
RTGS' stands for Real Time Gross Settlement, which can be explained as a system where there is continuous and real-time settlement of fund-transfers, individually on a transaction by transaction basis (without netting).
'Real Time' means the processing of instructions at the time they are received; 'Gross Settlement' means that the settlement of funds transfer instructions occurs individually.
IMPS is an emphatic service which allow transferring of funds instantly within banks across India which is not only safe but also economical.
Currently on IMPS, 639 members are live which includes banks & PPIs. This facility is provided by NPCI through its existing NFS switch.
GST payment is the periodical remittance of GST amount payable by the business. It one of the major requisites for a business to stay compliant. As per the guidelines, every registered regular taxpayer must make GST payment with a due date – 20th of every month along with the submission of GSTR-3B return.
The GST payment can be made online - promising a seamless and transparent experience.
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges).
The card issuer (usually a bank or credit union) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.
Loan origination software is a platform for centrally managing and automating different stages of the loan servicing cycle, i.e., loan application, document verification and credit approval, with automated underwriting.
For instance, during the loan application stage, the loan officer can add a borrower's details—such as income, credit history and assets—to the solution's dashboard.
The software speeds up the whole process of fetching a suitable plan from the loan portfolio by automating it. Using loan origination software, businesses can process and approve loans faster.