Protect Your PINs

Recently Radha got a message stating that Rs.30000/- has been withdrawn from her Account!!!!!!.  She got surprised and checked her Wallet for the Debit Card and couldn’t be found.   Later she remembered that last week when she had gone out that time she might have lost the card. How any one can withdrawn the money using her card without knowing the PIN No. Because  Radha has written her ATM PIN on the Debit card cover!!!!

Like Radha many of us will write the ATM PIN number on Card  or its cover because we can easily use the same to withdraw the Money.   When the card is lost or stolen any one can see the PIN No and use your Credit/Debit Card.

Tips to protect the Credit / Debit Card PINs.


  1. Never Write the PIN No on the Card or its Cover.
  2. Never Reveal Your PIN No. to any one directly or Indirectly.


  1. Memorize the PIN  and either Destroy the document which contains the PIN No or  keep it in safe place.
  2. Frequently change your PIN No.

Do follow this and Safeguard Your Money!!!!

Happy Banking

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Bank IFSC Code

My friend Seema wanted to transfer money online to her sister’s account.  However she was not able to transfer the money, because she was not aware of the Bank’s IFSC Code!!!!!!!  where her sister was having an Account.  Today Many like Seema will do the online transfer to save time and to quickly transfer the money from one account to another.  To do this kind of transaction it is important to know about the Bank’s IFSC Code!!!!!.

What is an IFSC Code?

  1.  IFSC Stands for Indian Financial System Code.
  2. It contains 11 Characters .
  3. It is used identify the Bank and Bank’s Branch Where is Account is Opened.
  4. It is used in National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTFS) Money Transfer System


IFSC Code: CNRB0000403

  1. First 3 Character Indicates Bank Name Like Canara Bank
  2. Remaining 8 Characters Bank’s City and Branch Code like Bangalore City’s Basavanagudi Branch

Where you can find the IFSC Code

  1. Online search
  2. Cheque books issued by the bank.

For Details and To Check IFSC Code Visit


Do Remember IFSC Code to perform the Online Money transfer.

Happy Transaction

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CTS-2010 Standard Cheques

Now Days we are all receiving a message from our banks telling about “CTS-2010″ Standard Cheques.  Requesting all the customers to surrender their Old Cheque books and getting replaced with new CTS-2010 Standard Cheque Books.  What is “CTS-2010” Standard Cheque Book?????

CTS – Stands for Cheque Truncation System.

It is process of stopping the movement of the Physical Cheque issued by a Person from presenter Bank to the Drawee bank.  Instead of this an Electronic image of the same Cheque will presented to the Drawee bank by the Clearing Houses with the required information.  It reduces the time and Cheque clearance will become faster.

To implement this Reserve Bank of India has given Guidelines to all the Banks to issue “CTS-2010” Standard Cheque Books to the customers.

Features of the “CTS-2010” Standard Cheque Book

  1. On the Right hand bottom side of the Cheque leaf will mentioned with keyword “Please Sign Above“.
  2. Void Pantograph [ an Image ] is printed on left hand side of Cheque leaf.
  3. “CT-2010” words will be printed at Left side of the Cheque Leaf.

Based on these guidelines Banks started issuing “CTS-2010” Standard Cheque books to their customers from August 2011.  If you have any old Cheque Books or Leaves, get it exchanged with New “CTS-2010′ Standard Cheque Books before 31st Dec 2012  From 1st Jan 2013 Banks will accept only “CTS-2010Standard Cheques.

Note: Now RBI has extended the date to March 31st 2013 to exchange your old cheque books with new “CTS-2010” Cheque Books.

Details please visit:

Note: Use only “CTS-2010” Standard Cheques

Happy Transaction Time

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Know Your Cheque Book

Today I met Vinutha in the Bank, who has come there to return her Cheque book which had only 9 Cheque Leaves.  The Clerk told her that she should have checked it before, Friends Here with I am giving some information about the Cheque Book

What is Cheque Book?

  1. It is given to the Account Holders by the Bank.
  2. It is used to Withdraw the Money from your Account and To make Payments [Mobile Bill, Insurance Premium].
  3. There are Two types of Cheques
          A. Self Cheque – Open Cheque used to  immediately withdraw the cash from the Account.
          B. Account-Payee Cheque – Used to make Payments and Money will be Directly transferred to the Payee’s Account. Two Lines drawn in left top corner of the Cheque Leaf indicates that it is Account payee Cheque [Note: It is not used to directly withdraw the Cash].

  Important parts of the cheque Leaf

  1. Date – Write the Date Properly in the  Date Section[ Ex: 25-Jan-2012 OR 25-01-2012].
  2.  Pay – Write the Name to whom you are making a payment.
                Note: Write Self if you are withdrawing personally
                      Write Yourself when you are using the cheque To Take DD from the Bank.
  3. Amount – Write Amount in Figures [using numbers] and Words.
       Example: In Figures 1500/- [Always write /- at the End of the Amount.
      In Words   One Thousand and Five Hundred Only [Add the word Only at the end of the Amount].
  4.  Signature – Sign According to the Specimen Signature given to the bank.

  Points to Ponder

  1. Count the Number of Leaves, Your Account Number  in the Cheque book before leaving the Bank.
  2. Carefully fill all the Details in the cheque Leaf Before Signing.
  3. Don’t Sign the Blank Cheque Leaves.
  4. If the cheque book is lost immediately inform to the Bank.

 Hope Always you will remember these points.

Happy Banking!!!!!!!!

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Know Your Salary Components

Every month all of you will get your salary slip and  find many terms like Basic, HRA, DA etc.,  Any time  have you tried to understand these terms????? 

Salary  structure is made up of many components some are monthly and some are annual.  Here you will find some common components used in the company.   It may vary from  company to company.

1. Basic  

  •  Core part of the Salary.
  •  Many Components and Deductions are  Calculated based this component [PF – 12%  Basic salary].
  •  Depends on the Grade with in the Company structure. 
  •  Paid Monthly and is Taxable.

2. DA – Dearness Allowance

  • Paid to Compensate for increase in the General Cost of Living due to inflation.
  • Paid Monthly and is Taxable.                

3. Incentive / Bonus

  • Paid depending on the Employee’s Performance [Reward to Employee].
  • Incentive – Paid Monthly.
  • Bonus – Paid Monthly or Yearly.
  • Note: Both are Taxable.

4. Conveyance Allowance

  • Paid to Meet the Transportation Expenses.
  • Paid Monthly and is Taxable.
  • Note: Upto Rs.10000/– it is Tax-Free

5. House Rent Allowance (HRA)

  • Paid to Meet Expenditure on Renting a House [Calculated based on Basic Salary].
  • Paid Monthly and is Taxable.

6. Medical Allowance [Reimbursements]

  •  Paid to help the Employee with the amount that  he spend on Medical Treatment or Medicines.
  • Paid Monthly or Yearly and  is Taxable.
  • Note: Receive Reimbursement of your medical expenses against submission of bills is Tax-free [Up to 15,000 per year].

7. LTA / LTC [Leave Travel Allowance]

  • Paid to encourage the employee to travel with his Family on vacations.
  • Paid Yearly and Tax-free [Subjected to certain condition].

8. Vehicle Allowance

  • Paid to Employee to Maintain his Vehicle.
  • Paid Monthly and is Taxable.

9.  Telephone / Mobile Allowance

  • Paid to Maintain Telephone / Cell phone [To pay the bills].
  •  Paid Monthly and is Taxable.

10. Special Allowance

  • Paid to employee as a part of  his Salary.
  • Paid Monthly and is Taxable.

       Hope it will help you to understand the salary structure in better way.

Happy Salary Time

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MICR Code in Cheque Book

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Let me share an interesting episode which happened with a dear friend of mine. She wanted to send some information regarding a cheque to an acquaintance. She was quite stumped when she was asked for the MICR code. after much eye-rolls and the “typical woman” looks, she was explained what that particular code is.

To all my uninitiated women-friends, let me give you the one-on-one of this cryptic code that eludes the most savvy and outgoing of all women.

MICR – Stands for Magnetic Ink Character Recognition is Magnetic Ink Barcode Printed on the bottom of  Bank’s cheque leaves.

It is unique system used by the Bank for cheque clearing and Every bank has unique MICR Code.

MICR Code has 9 digits and Each three digits in code signifies the information about
  1. City
  2. Bank Name
  3. Bank  Branch Code

Example:  MICR Code No. 560015005

  1. 560 – Represents  City Name [Bangalore]
  2. 015 – Represents Bank Name [Canara Bank]
  3. 005 – Represents Bank Branch Code [Avenue Road Branch]

For further details visit

Happy Banking!!

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