What is Digital Financial Services?
Digital Financial services (DFS), expands the delivery of basic financial services to the people through new technologies, like the internet, smart phones and the transfer of money through new digital channels. These channels have significantly drive down the cost for customers and service providers, thus opening the door to provide 364*24 service.
Why Saving are Needed?
Savings is the percentage of income which is not spent on present expenditures, instead conserved for future use. In such tough situation, our savings will be very helpful and beneficial to us. We needs to save money for future needs, emergencies and for large expenses.
Drawbacks of keeping cash at home-
Money can either at home get stolen by anybody if it is kept at home. Few drawbacks of keeping cash at home is -
- Unsafe
- Loss of growth opportunity
- No Credit Eligibility
Why Bank is Needed?
A bank is a financial institution, which acts as an intermediary in transactions, and offer services like safekeeping and lending of money. Bank is majorly needed for
- Safety of money
- Inculcate habit of saving
- Earn interest
- Remittances using Cheque/Demand Draft
- Loan- Home/Business/Vehicle
- Avoid risk of chit funds, Sahukars
- Online Banking
- Bank Lockers
- Credit/Debit Cards
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