Aug 18

Bank Auction Sale Of Properties Are Incresing In India.

The Debt Recovery Tribunals have been established by the Government of India under an Act of Parliament (Act 51 of 1993) for expeditious adjudication and recovery of debts due to banks and financial institutions and they are auctioning some properties. Subsequently With an aim to provide a structured platform to the Banking sector for managing its mounting NPA stocks and keep pace with international financial institutions, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002 was put in place to allow banks and Financial Institutions (FIs) to take possession of securities and sell them. Various Banks, State Financial corporations , and Asset Reconstruction companies are auctioning their Non performing assets, i.e housing properties, commercial properties and Industrial properties under SARFAESI act 2002.

Public Sector Banks are shifting to new system called Core Banking System (CBS), which automatically processes and updates transactions, helping identify NPAs on a daily basis, as against the current system where most transactions are managed manually, leaving scope for slippages. As a result of this the NPAs of some banks are expected to increase by as much as 150%. According to latest data from the Reserve Bank of India, the gross non-performing assets of state-run banks touched 68,597 crore at the end of December 2010, an increase of 27% from a year ago.

Ours is an Internet portal publishing all the Bank auction property listings since December 2009 and we are the only one providing such information pertaining to 32 major cities in India. We are committed to create awareness among general public about the Bank auction procedures and to generate vibrant market for Bank auction properties in India. Our services are being utilized by various Banks, i.e Union Bank of India, State Bank of Hyderabad, Andhra Bank, Punjab National

Aug 17

What is the Difference Between a Credit Union and a Bank

Banks and credit unions seem very similar to most people. They both offer deposit accounts and various types of credit. They have many of the same services, telephone banking, online banking and ATMs; but there are some major differences between the two. If youre wondering where to turn for your next personal loan or arent sure where to open a savings account consider the following differences between a credit union and a bank.

Credit Unions

A Credit Union is a member-owned not-for-profit financial cooperative governed by a Board of Directors elected by the credit unions members. The members of a credit union usually have something in common, such as living in the same geographical region or belonging to the same organization.

Credit Unions offer everything from checking and savings accounts to small business loans, car loans, mortgages, personal loans, and more. A credit unions main focus, however, is on savings and it will usually offer higher interest on savings products than a bank. A credit unions not-for-profit status means that any income it earns is given back to its members, usually via lower interest rates and fees.


A bank is a stockholder-owned financial institution. Its main goal is to make its investors money and it does so by investing its customers money or lending it to other customers. When you make a deposit at the bank you are essentially loaning money to it. The bank pays you back in interest for that loan but the rates vary depending on the bank (consider that 0.05% youre now making on a savings account you opened several years ago when interest rates were much higher).

Banks also make their money in fees (ATM fees, overdraft fees, late payment fees, etc.). Banks carry the same products as credit unions, deposit accounts, IRAs, credit cards, and so on,

Aug 17

How To Track Bank Account Transactions Manually

When a customer at the bank gets a hold of a statement in through the mail, the statement lists out all the transactions happened during previous month. The transactions include both incoming and outgoing, tallying up to a final sum which is indicated as the up-to-date account balance for the benefit of the customer. Without the benefit of the statement, the customer would be much more in the dark more with respect to the contents of the account. With the statement in hand the customer knows details such as the dollar value spent, the size of the income, and the present state of the account.

The fact of the matter is that this information becomes outdated almost immediately as the customer starts to use money. A simple ATM withdrawal means the account balance is not reflected in the monthly statement. The way to make sure one knows the state of finances even between statements is known as “bank reconciliation”. The device to help one do so is the checkbook register – which is simply a little sheet of paper that is used for recording transactions.

What is the importance keeping track of this money? The larger fraction of bank customers have come up against deep reasons to do so. Indeed, whenever a check is issued with a value higher than the level of money in the account, two things happen. The check may not go through incurring a bounced check fee, or the check goes through because the bank covers it temporarily triggering an overdraft fee. In both cases there is a serious negative consequence.

The types of transactions are many. Monthly car payments by way of check can result in a penalty if there are not enough funds on the day the payment is being cashed.

Aug 17

Secret Offshore Bank Account – Is It Possible

Secret offshore bank accounts are the stuff of legend. This article intends to debunk some of the myths about secret offshore banking by setting out what is and isn’t possible.

1) It’s impossible to open an offshore bank account without first somehow identifying yourself. This means sending a notarized copy of your bank account/passport details to the bank or intermediary.
2) Most offshore banks will also require a reference from a bank at home.
3) If you open an offshore account in the name of your offshore company, you still need to provide all the formation documents, and the name and address of a real person. No bank will let a faceless entity open an account without pinning it down to a real person.

So how is it Secret?

Well, the reasoning behind all this, is that if you open an offshore account the bank may let you have a ‘number’ rather than a name. This so called ‘numbered account’ allows you to send wire transfers without third parties knowing who you are. An account in the name of a company will do a similar thing, allowing you to send and receive payments almost anonymously, because the company name rather yours will show up on all transactions.

The problem is, this doesn’t shield you from government inquiries. If for example a government authority suspects you of having an undeclared offshore account, that you are hiding money from your spouse or otherwise engaged in funny business they can go to the country or bank in question and request your details. While some countries will reject the majority of these requests others are more pliant.

Switzerland and the Cayman Islands are two in particular that co-operate with US and EU authorities. Although both have strong bank secrecy laws on paper,

Aug 15

How to get the best michigan credit card processing

Before you even get close to making a decision on a michigan credit card processing account company, make some research by spending some time cruising through a half-dozen provider Web sites.

Most sites will include a list of charges and fees associated with doing business with them – and you might be surprised at the differences. Compare charges for things like transaction fees, internet processing gateway fees and statement/customer services fees, among others, It is easy to apply for an instant approval michigan credit card processing online. you have to make up your mind about which Michigan credit card processing company you would like to get your instant approval card from, you can apply simply by registering with the particular Michigan credit card processing company’s website you decide to make business with.

All you have to do is fill an online form, providing your personal details to the company. Rest everything is at a click-away distance. Make sure the michigan credit card processing company you register with is also the company that will be processing the transactions. Some use third-party processors that can slow down the amount of time it takes money to be put into your account.

And improved cash flow is one more advantage of allowing a michigan credit card processing on your Web store. However, there is one other factor to consider Just because a company says they charge a certain fee or has a certain policy doesn’t mean there’s not room to negotiate. It doesn’t hurt to ask that there be no early-termination fee, or to request several specific parameters whereby that fee is waived for poor customer service. keep in mind that this is your business we’re talking about here, so even if adding michigan credit card processing does have you a

Aug 15

Bank Homes Foreclosures and Home Path Mortgages

Bank homes foreclosures is a highly viable way of owning property. It is very attractive to buyers due to the feeling of security created by dealing with banks. Banks have always had the reputation of being on the level or above board and all one needs is a good credit standing to qualify for loans.

Sometimes people are reluctant to secure a loan to purchase bank homes foreclosures, probably because they feel their income or stature will fall short of the qualifications of banks. Perhaps they are not aware that Big Brother can help them out with Home Path mortgages, a program operated by Fannie Mae.

How can Home Path Help You Own Bank Homes Foreclosures?

The Home Path mortgage program was established to provide incentives for both banks and borrowers to induce sales of bank homes foreclosures. The real beauty of acquiring a foreclosure through a Home Path mortgage apart from the significantly lower price is the fact that Home Path will only require borrowers to put up three percent of the total down payment with great flexibility on amortization.

Home path support bank homes foreclosures that include town houses, apartments and condos as well as single family homes. Your research is still an essential component to the whole buying process as these bank owned Fannie Mae foreclosures are all sold in their present condition or as is. These homes will require some measure of repair or improvement so it is best to do a careful selection process. Depending on the home type, its general condition and its location, Fannie Mae can undertake minor repairs on some of these homes. For significant repairs, Home Path offers another line of credit, which falls under renovation or home improvement. This means setting up a mortgage in excess of the value of the home to free

Aug 14

How to Shop for a Checking Account

A number of qualities and benefits can go into the makeup of any given checking account. With so many offers available, it is important to know how to compare them all, so you deal with the best bank and type of account for your situation. It is also good to keep in mind how you plan to use the account. Becoming educated about the details of account options could help you save time, money, and trouble down the road.

What do you need?

As you search for the best checking account for you, be sure to know how you plan to use it. You may have a large sum of money to move into the new account. Perhaps you only need it for a small amount to handle a particular project or fund and the bulk of your finances are in another account. Think about whether you plan to use checks, a debit card, or both, and if you would like to have bills automatically deducted from the account. Knowing what you need before you start your search will help you sort through available options in order to find the best fit.

What fees are involved?

It is not unusual for banks to have some fees involved with a checking account. These charges are typically minimal and help the bank recoup their costs associated with holding your account. One common type is a monthly service fee. There also could be fees associated with using an ATM that is not at one of their bank locations. Don’t forget to look into check costs, too. There may be an option for free plain checks. The fees are typically low, but it is good to know what is and is not included in the plan.

What are the limits?

Sometimes, especially in the case of checking accounts that don’t

Aug 13

The True Need And Purpose Of Bank Bin Numbers

The bank bin or the bank identification number happens to be a very essential component in each and every credit card. With its proper utilisation, you can find out the proper purpose for which the card has been dedicated, as well as the financial institutions that had offered such credit cards. The bank bin ranges of numbers would more often than not validate the transaction, and whenever a huge amount of money is involved, a tally with the credit card details, along with the bank bin database is needed. To effectively find out the bank bin ranges of numbers, you should enlist the services of superior software that can take care of all such security needs.

These numeric codes have actually been applied to nearly each and every credit card, debit card, ATM cards, or any sort of gift cards that have some financial transaction link to it. Under such circumstances, it would be very prudent a few to get a good enough bank bin base, so that a huge amount of data and credit card details can be with you, and you would not need to scour for any type of information in order to prevent any fraudulent transactions. You should always go for a bank bin numbers lookup, so that you can readily tally credit card details with the official bank identification number, and you can keep yourself in a very safe side, with ensuring that only legitimate transactions will take place in your website.

If you get a lot of chargebacks, then the reputation of your website would get hit in a very bad way. Payment gateways would make a lot of fuss about you getting so many chargebacks, and ultimately they would limit your account. Any sort of ads that you place in your website would

Aug 10

Keeping Your Website Hacker Free With The Help Of Bin Bank Identification Number

When you go for creating a website, which particularly deals with e-commerce, then making the use of bin bank identification number should be your primary concern. This is one of the best methods in order to check whether the credit card details that have been given in order to procure the item from your website is of a valid nature or not. A lot of websites utilize the feature of bin bank identification number so that they do not get any sort of chargeback due to the fraudulent credit cards. A lot of people and Webmasters have been utilizing the bin bank identification number, and most of them have gained a lot of customers with this added security. Customers would feel that they are always providing secure information, and that is the reason that Webmasters tend to go for bin bank identification number.

Why must you enlist bin bank identification number?

The people who purchase stuff from e-commerce websites have the mindset of ensuring that they would be able to get the required product for a good deal, provided that any sort of payment details are extremely safe. For people with credit cards, they fear to buy products from websites that do not have bin bank identification number. Hence, always make it a fact to ensure that if you happen to go for a website, always include the bin bank identification number in them. It is not take a lot of money on your part to always maintain a very good bin bank identification number, and in most circumstances, you would find that there are a lot of people that has been employing a variety of bin bank identification number so that they can sleep well at night. Managing a website can take a lot of stress in your

Aug 09

Erase Credit Card Debt Now and Live a Happy Life – It’s As Simple As That

Many of you might probably be tired and weary with paying your credit debt obligations incurred from purchases made months or years ago. I know it’s very burdensome. There’s got to be some ways to erase credit card debt. Yes, there are. And you have to do it now, as in now! You deserve a happy life free from the stresses brought about by financial woes.

It must have been fun charging your credit card months or years ago when you were on a shopping spree. But the feeling doesn’t last as reality will deal with your finances later. You will realize later that you have to pay for your superficial bliss as soon as the credit bills knock on your door. These cards must be used responsibly to avoid the financial distress that you will encounter later if you mismanage their use.

Always bear in my that you only need the use of your cards in emergency financial situations or when you don’t have enough cash to pay for the important purchases that you have made. To erase credit card debt, you must be a wise consumer; you must avoid compulsive buying. If you can’t control this impulse buying behavior then it is only a natural consequence of your actions that you will have a bad credit record eventually if you can’t pay the bills at the end of the month. Every bad decision you make with regards to your finances will add up to your credit debt problems

Erasing your credit debts doesn’t have to be complicated. It only needs discipline, focus, and the knowledge on what to do to reduce your credit debt obligations. The most common thing to do is determine the entire amount of the credit card debts that you have to

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