Smartphone usage is on the rise across India and this has revolutionized banking, as phone users can use several mobile banking apps that improve convenience and efficiency. Banking institutions adopt new technology and increase their product offerings to retain and expand their customer base.

Mobile banking services are experiencing rapid growth and innovation, with the aim to incorporate cutting-edge technology in financial services. Opting for these services gives users different benefits, such as convenience, time saving, and flexibility.

Mobile banking applications have several interesting features that allow users to view information, perform transactions, and enjoy other value added services. Some of the features include:

Viewing

• Bank account overview and transaction history
• Track term deposits
• Scheduled payments
• Statement request
• Credit card statement
• Demat account overview
• Investment details

Transaction

• Fund transfer through NEFT, RTGS, One-time transfer without adding beneficiary or message money
• IMPS money transfer
• Payments for mobile bills, utility services, direct-to- home recharge, and credit card
• Service requests for debit card, credit card, or cheque books
• Bookings for flights, hotels, and other services

Applications

• In My Kotak you can customize and personalize your home screen
• Modify different settings for your account

Benefits of Mobile Banking

• Convenient – Users do not have to visit bank branches, travel agents, or utility-service providers. You can do more than just transfer funds, with some mobile banking apps even allowing you to recharge your mobile or DTH connection, make flight and hotel bookings, and lots more, all through your smartphone.
• Flexibility – Mobile banking in India has grown so rapidly, increasing versatility, allowing users to perform a wide variety of transactions that were previously unheard of. The message money feature, in Kotak Bank’s mobile banking app, even allows you to send funds to friends, relatives, and associates through a messaging service!
• Safe – Almost every transaction done through your mobile phone requires authentication. Moreover, the bank will usually send you an SMS whenever a transaction happens in your account. Any mobile banking apps require 2-level authentication to prevent mobile fraud. Users need the login password (MPIN) and the activation code for authentication.

Almost every private and public sector bank in India provides mobile banking services to customers, but the services offered by some banking apps are exemplary. The app from Kotak Mahindra Bank is notable in this regard. Some of the innovations give users the ability to customize settings, setup transactions and view information. This adds several benefits to the user experience.

Settings

Certain mobile banking apps allow users to even customize their banking settings. This means that users can:

• Add or delete multiple customer relationship numbers
• Personalize the Home Screen

Transactions

Banking transactions are redefined with mobile banking, as they are no longer restricted to fund transfers or payments. Users can perform the following actions:

• Money transfer – Through RTGS and NEFT
• IMPS fund transfers – generating one-time password for IMPS2M
• Customer can view/modify the MMID
• Bill payments – utility services, mobile or DTH services, redemption requests, balance transfer, purchase, cancel request
• Service requests – request add-on card, auto debit for credit card payments, report lost or damaged cards
• mStore – Book flights, buses and hotels

View

Users can also track their financial activities, not just in terms of transfers executed via the app. You can access and update information related to the following:

• Activity – bank account, Demat account, investments, and credit card
• You can also create or modify your profile, if you’re the primary CRN, go to Settings> Mange Profile and change the CRN, the same goes for modifying one. This is only applicable if you’re the primary CRN.
• Financial History – Credit card summary, bank account summary, My investments, bill pay, mobile recharge, JIFI

Technological innovations are driving rapid growth across all sectors and banks are taking the lead by offering new and improved services to customers. The scope of mobile banking is only likely to grow in the coming years.

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All kinds of costs come with running a business. Of course, a lot of your budget should go on your primary operations. Many companies choose to invest money in things like marketing, great equipment, and a large workforce. But while these costs are helpful, some expenses are absolutely essential. Here are some of the costs you must pay to keep your business running smoothly.

Workplace Upkeep

Whether you operate out of an industrial building or rented office space, you’ll likely have to pay monthly costs. While the main cost of the building is a big concern, there are also other costs associated with the upkeep.

Naturally, you’ll also have to pay for utilities like water and electricity. You may also need building maintenance work from time to time. Some workplace problems can cause you and your employees illness. Make sure everything is well-maintained to avoid health and legal problems.

Sometimes rented office space covers a lot of the upkeep themselves. By renting out a small office unit in a business building, you won’t have to worry about handling building maintenance costs. This can save a lot of money.

Taxes

All companies must file business income taxes each fiscal year. Failing to do this can result in penalties and fines for your business. If you fail to pay the full amount back, you’ll have to pay extra interest on the rest. Therefore, it’s essential you plan for this cost in advance and handle it on time.

What you pay and the forms you fill out can vary depending on what type of business you’re running. It can get confusing trying to handle it all on your own. Most companies enlist the help of an IRS lawyer to make sure their taxes are handled professionally.

If you can’t pay your taxes on time, you can sometimes get a short extension. The good news is you can get all kinds of deductions from your business tax. Things like office supplies, premises, and work-related travel can often be taken off your tax bill. This can make the costs much easier to handle, so keep receipts for anything you might be able to deduct.

Payroll

You’ll need to pay your employees what you’ve agreed to on time, every time. Terms are often set out in employee contracts about how your employees will be paid and when. Some businesses choose to pay workers weekly, some monthly. Either way, make sure employees get their money.

Paying employees late can severely reduce their motivation to work. Not only that but if you fail to fulfill payment agreements with employees you could find yourself in legal trouble. If your payroll is becoming a crippling cost, you may need to look into downsizing. However, not paying employees is never a suitable option.

Internet Connection

The internet is essential for many business operations nowadays. Make sure you pay for internet connection with the best uptime- this is the most important factor for company internet.

It’s also a good idea to use I.T. services to handle any computer or internet problems around your business. Computing problems can affect your business’s productivity, so it’s important to pay to keep it running well.

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Saving for our future is one of those things we all know we should be doing. However, whether we actually get around to it is another point entirely. It is so easy to just put off sorting out for another day. But when the time comes for you to retire, you will need to have some kind of plan in place for your next steps. Chances are you will have been putting money into a pension scheme in addition to the workplace pension you will be entitled to receive. But, what do you do if this isn’t enough to tide you over? With other financial issues looming over us as we approach retirement age, such as whether you have the best life insurance policy, our retirement funds should be the least of our worries. If you are thinking about investing your pension fund, don’t rush into it. We all want to enjoy our retirement, but make sure that whatever you are investing your money in is right for you.

Property investment

Real estate is quite literally hot property these days. If you’re looking to invest your pension somewhere, look no further than the real estate sector. The best way to go about this is by acquiring property through a real estate IRA. This way, you open yourself up to unique investment opportunities and you can be sure that you are putting your money into a secure asset. It also has the added benefit of being able to rise in value, which is perfect for if you are hoping to pass the property down generations. You also don’t need to be restricted to houses or apartments when investing with an IRA. You can also claim farmland or holiday resorts, or commercial property such as shopping malls.

Stocks and shares

The stock market might initially seem like a bit of a daunting minefield. But, it could be the perfect place for your pension to go if you have chosen to self-invest. In fact, in provides a great opportunity to protect against rising inflation and bring in higher returns than cash and bonds. You can go into ‘direct investment’ into the stock market via a stockbroker. This essentially means that you buy shares in a single company, which makes you what is known as a shareholder. If you want to minimise the risk associated with investing in stocks and shares, instead consider investing indirectly. This way you can invest your money in a number of different companies rather than just one.

Precious metals

This may appear unusual at first, but precious metal investment has soared in recent years. They are a hard investment, which means that they are also hedged against inflation. If you are looking to invest in precious metals, you will need to comply with the rules and regulations set up by your pension account. Gold, silver, palladium and platinum are all approved by IRA accounts. You will need to purchase the metals yourself through a dealership, and then keep them in an approved depository.

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Being stranded beneath the mountain of debt is a pretty scary place to be. You don’t know what’s going to happen, and you can’t see a way out. But, you need to try to make sure you follow this advice and give yourself a chance of escaping.

Start Budgeting

You need to start getting serious with your finances now. Organization is a big part of climbing the ladder out of the pit of debt. If you’re not someone who is particularly organized when it comes to finances, then you need to work on this. Get on your computer and start making a budget and spreadsheet. Yes, it sounds like the least fun in the world, but it is really going to help you when it comes to the nitty gritty.

Consolidate

The main thing you need to try to focus on to get debt free is to consolidate. Now, there are a few ways you can do this. You might consider entering into an IVF or joining forces with a diet consolidation company. Or, you might prefer to take a look at unsecured loans and choose one that you can use to consolidate and pay off all the debt. Don’t think that just because you’re in debt at the moment you can’t use a loan like this to help you. It’s important to put all your debt together and try to get rid of it in one payment. And a personal loan gives you the chance to do this.

Talk to the Experts

You know you don’t have to face this debt alone, right? Okay, so you might not want to talk to your friends and family about it. But, you should certainly speak to experts who have dealt with this before. Following expert advice to get your finances back on track is so important. You will have questions that need to be answered. And financial experts can provide you with this peace of mind as much as possible. Talk to professionals, and ask for guidance in getting free from your debt. They may well be able to refer you to a consolidation program.

Stop Spending!

It seems pretty obvious to suggest that if you want to climb out of debt, you need to stop spending. But, you’d be surprised how many people don’t actually follow this advice. You need to curb your spending habits as much as possible if you want to get out of this sticky situation. That means cutting back and only spending what you absolutely have to. Avoid the frivolous luxury purchases, and only spend money on what you actually need. If you’re struggling with this, that’s what you can use your budgeting to help you out with!

Sinking into debt can be quite alarming, and yet so many of us fall victim. It’s so easy to get into a downward spiral and become unable to dig yourself out of the debt you’re in. That’s why it helps to have advice like this you can follow to try to get yourself debt-free.

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When you are active in the binary options market, the specific brokerage service that you use can make a huge difference in the kinds of profits that you can generate through your trades. There are more than a thousand brokers that you can find online, but it can be tricky to know which ones are going to offer the right services, tools, and terms to help you to be successful in your investments.

If you’re looking to work with one of the top 10 binary options brokers, consider some of these basic guidelines that can put you in touch with the right firm:

Regulatory Controls

Not every broker is licensed to operate in the country that they serve. In some cases, this is not a major problem. For example, many traders choose to work with European brokerage firms that are not licensed to work in the United States, but who accept traders from the U.S. However, these firms may be controlled by the corresponding entity, CySEC, in the country that they operate in and may hold a license that correlates to it. There is some manner of risk in using a service from another country, since funds are not guaranteed to you in the same way that a service from your own country might be, but it is still possible to work well with a broker from another country.

However, you’ll want to make sure that the firm does hold a license from a regulatory body, not just marketing themselves as being regulated, and that you understand the kinds of regulations that might affect the firm, so that you can protect your investments.

You’ll also want to explore the terms of the brokerage service prior to committing funds into an account. Some firms charge excessive fees or have lengthy retrieval times for profits that are made using the service.

While the specific brokerage firms that can be counted among the top 10 binary options brokers are constantly changing and new brokers are being added to the market continuously, it is possible to find and partner with some great service providers who help to make it easy to generate profits. There will always be some degree of risk in the binary options market, but having the right kind of binary options brokerage service on your side can help you to navigate the waters with a little more ease.

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