Friday, 11 August 2017

what happens if we use wrong ifsc code


IFSC



IFSC stands for Indian financial system code which is alphanumeric and consists of 11 digit character. The first four characters represents the banks name, the fifth character is zero, the last six numbers or alphabets represents the specific branch of the bank. IFSC codes are very very important when money is transferred online from one bank to another bank. IFSC code is used for money transfer through NEFT,RTGS and IMPS.

 

NEFT



NEFT stands for National Electronic funds transfer; this payment method is used by individuals and companies to transfer funds electronically from one account to other account.Neft process is very safe and secured and they are minimal chances of any errors.

 

RTGS



RTGS stands for real time gross settlement where in funds can be transferred between different accounts and banks in real time.RTGS systems also validates the IFSC code before permitting the payment method.

 

IMPS



IMPS stands for immediate payment service whereas here the funds can be transferred immediately by using IFSC code round the clock. National Payment Corporation of India has provided this facility.

What Happens If We Use Wrong Ifsc Code



The reserve bank of India is the central banking authority which controls and regulates all the banking affairs in india,RBI issues IFSC codes to all the banks in india. RBI has also issued strict guidelines to all the banks to publish the IFSC code on the cheque leaves.

 If we enter wrong IFSC code while using NEFT or RTGS MONEY transfer using online banking funds would not be transferred, because for the interbank transaction to be successful all the information entered should be correct. Funds will only be transferred to other bank account only if both IFSC code and account number to which the money is to be deposited exist together. But a remitter will lose money even after entering wrong information only if the branch with the unintended IFSC code also has the account number. In  most of the cases when you do enter it wrong one of the two will be correct. The banks system will fail to transfer money and the money will be sent back to the  remitters account. The only loss of money will be due to the service charges imposed by the bank in initiating the interbank transfer. But even if the money gets transferred to the wrong branch recovering money back in such cases is very very difficult. To get your money back you will have to entirely be dependent on the other party. The other person into whose account you have transferred the money. You will get the complete information of the account holder through the branch of which you have used the IFSC code.

Sunday, 23 July 2017

Basic etiquettes to impress teachers or professor


Just like you would engage in certain activities to obtain a promotion or impress your boss or superior, your professor needs to be impressed as well. Professors/Teachers are human beings with their own issues and concerns. They also have good and bad days. While most attempt to be positive, this can become difficult on tough days when no one seems to be listening or caring about what they are learning. When a student comes into class with a great attitude and a winning personality, it can make a huge difference. Below are some of the best ways to impress your Professor/teacher. So pick the tips that work for you and start implementing.

 

PAY ATTENTION




if your teacher/professor asks you to bring in a specific book to class, bring it. Write reminders if you have to, but come prepared. Turn in your assignments on time, and be prepared for tests. Take a few minutes each evening to study what you have learned in class. Show that you care and are very attentive in the class room.

HOMEWORK


Try to complete your homework / assignment in time and do it completely and neatly. If you think that your assignment requires you to do some more extra research/seeking tutoring help, do it. Remember that more effort you put into your work, the more you'll get out of it.

BE ACTIVE/ATTENTIVE IN CLASS



Make an effort to listen each day and be involved in the lesson. Even though there may be boring topics covered in class, think that it is teacher's job to teach and your job to learn. MostlyProfessors/teachers love input and feedback, so be interactive and give your inputs as well.

 

ANSWER QUESTIONS





Try to answer questions that the teacher poses. Answer the teacher's questions with pertinent and interesting points that adds to the classroom discussion.

 

BE CONSIDERATE





If you see your teacher has dropped something when you are in/out of class, help him/her by picking up those items. Your teacher will remember your consideration long after and it will help you, when giving grades (especially on a subjective essay, for example), handing out classroom assignments or writing your recommendation for a club, college or job.


BE HELPFUL





If you have an activity in class that requires the desks to be rearranged, cubicles to be organized, beakers to be washed or even trash to be taken out, volunteer to be the one to help them move the desks, clean the cubicles, scrub the beakers to discard the trash. The teacher will notice and appreciate your help in the same way that your parents or friends would appreciate your extra effort.

SAY THANK YOU





You don't have to say thank you every day. However, throwing in a heartfelt thank you to a teacher for teaching you a lesson is valued. And your thank you does not have to be verbal. Take a moment outside of class to write a brief thank you note or card if the teacher has been particularly helpful to you in giving advice or providing after-school/college help on that difficult essay or seemingly impossible math test.

Thursday, 13 July 2017

Importance of an IFSC Code in Your Fund Transfer


When you are sending/transfer your money, you want to make sure that your funds reach the intended bank. Transferring funds to the wrong bank can cause many problems, the transaction cannot be automatically reversed. Sending funds to the wrong bank can be easily done, whether you entered the wrong details for whatever reason, or maybe the banker is to blame.This is where the IFSC-code comes into play.

 

What Is An IFSC Code?

IFSC Code, is also known as Indian Financial System Code. An IFSC code consists of 11 characters. Usually, the first 4 characters identify banks name. The fifth character is 0. The last 6 characters identify the branch of the bank.

 

Why is Indian Financial System Code needed?

Basically, transferring funds was done off of the internet. Face to face with a banker. You would detail how much money you want to transfer and to what destination bank account. With today's technology, there has been a massive shift to online transactions and it is the new trend. To make a financial transaction online you no longer need to be face to face with a banker. You just need to know where the money is coming from, and where it is going to.  As well as the details of both respective banks. Details such as IFSC codes.

 

What are the advantages of Indian Financial System Code?

There are numerous benefits of using an IFSC code. To keep it short, here's a summary:
 
Online financial transactions


No longer have to go to your local branch and stand in a queue for an extended period of time, just to process small money transfers. With the Indian  Financial System Code, It won't matter where you are. You can make the transaction anywhere in the world.
 
Transferring funds


Money can now be transferred in a matter of minutes. Making the whole process much more efficient. This is very helpful when you need to transfer money quick in an emergency.
 
Limits possible fraud

Each branch and their respective banks will have this unique IFSC-code. This makes the process more safe and secure. Every transaction using IFSC codes will have a start and an end point. Ensuring funds are easily tracked.
 
24/7

Unlike at your local branch, you can access your bank account online at any time, on any day.
 
Online banking


You can pay your bills, check your balance, and transfer funds all thanks to the Indian Financial System Codes. Fast and efficient.
 
Who controls fund transfers?
RBI Established as the central banking institution, controls all of the fund transfers in India. It is their job to see all of the transactions. They provide and develop the structure for all payments, such as RTGS. All will the help of an IFSC code.
 
How does the Indian Financial System Code help them?
By using the IFSC codes, RBI can easily identify where funds have been transferred from, and were they end up. Also known as the start and end points. This makes the process much more efficient as they can monitor all transactions. IFSC code also helps to eliminate errors.

Wednesday, 12 July 2017

How Do Extracurricular Activities Enhance students Development?


College experience includes not just academics, but extracurricular activities as well. There may be hundreds of activities to choose from on your campus, but how do you select those that are ideal for you? Participating in the right extracurricular's can help you to follow your passion, learn new skills,  network professionally. Read this article to try several new activities that could greatly enhance your college experience!

Sports


participating in sports is a great way to showcase your teamwork, leadership skills that you place an emphasis on athletics and physical fitness. While athletics are a platform to demonstrate these important traits, it is common for students to participate in them and may not hold as much significance as when balanced with other activities. It's ideal to choose activities from different categories, both social and academic, so that colleges are able to see your wide range of talents and strong character traits.

Academic Teams and Clubs


Joining an academic club or team shows that you're passionate about learning and gaining a competitive advantage. When it comes to rigorous academics, you don't shy away but, rather, embrace a challenge. Whether your subject preference is math, science or any other focus, demonstrating your love for learning is always in your favor.

Debate 


Students on the debate team are more likely to be engaged in the issues; they will be able to think critically on their feet and are not afraid to speak out all qualities that colleges look for in prospective students. Also, students that participate on debate teams are often outspoken within class, leading classmates into thoughtful discussions.

Multicultural activities


Involving in campus multicultural activities can help you increase your awareness and understanding of different cultures and its different ethnic and backgrounds. Such activities can include concerts, festivals, lectures and other events that encourage multicultural awareness on campus. Participating in such activities can help you to understand your own cultural identity.

Volunteer / Community Service



Most colleges consider some form of volunteer work or community service for all applicants. Best way to gain volunteer experience is to consider the activities you enjoy and find a way to apply them into your service hours. There are so many easy ways to apply whatever you love to helping out in your community. Another option is service learning, which allows students to take what they learn in the classroom and combine it with community service. Though volunteering in general will help you make friends, grow as a person, and most importantly you will learn helping others.

Arts

Creativity is always an asset when it comes to college applications. Students active in creative arts, like music, drama and visual arts tend to be  more open-minded. These qualities add to campus life, which is a bonus in the eyes of a college admissions officer. Participating in the arts can help introduce  you to new friends and professional contacts.

Internships


obtaining internship while in high school is impressive. An internship shows you're capable and mature enough to enter the work force. Demonstrating such qualities in turn allows college admissions officers to assume you'll be more than capable of handling heavier course loads and actively participating in  your curriculum.