Connect with us

Technology

Explain what is KYC in Banking(Updated) | Full form KYC

Published

on

what is KYC in Banking
Spread the love

In this Digital Life KYC is one of the most important things to know about your customer. In this article Explain what KYC in Banking, What is the Full form of KYC and Why KYC is Important or Required.

Explain what is KYC in Banking?

KYC means or Full Form is Know your Customer. It is a process by which banks obtain information about the identity and address of the customers. In India, KYC is mandatory for every Customer in the bank. It takes your personal information like your address, photo, mobile number, Fingerprint, eye scan, birthday, Your father’s name, etc to do that. it stores your information digitally.

what is KYC in Banking

Read Also: What is Authentication and Authorization, Digital signatures, Biometric

What Documents are Required for KYC

  1. Country PassPort
  2. Driving Licence
  3. Votar Card
  4. Pan Card
  5. Aadhaar Card 

You Need to Submit any one of these documents as proof of identity.

Why KYC is Important or Required

In all of these documents like the Aadhaar Card, there has your all the information about you. If you do something wrong in a feature they can easily track you. With KYC online verification and offline KYC authentication in place, banks can catch any potential money laundering rings.

Another Reason why KYC is important is many people invest their money in other financial services like trading, mutual fund investment, Cryptocurrency, and more. So that time it has a big role in cross-checking their operating address and verifying the identities of their beneficial owners and authorized signatories.


 

I hope you get the all information about what is KYC in Banking, the Full form of KYC, and Why KYC is Important or Required. If you like this article, you can share and comment. So that we too have a chance to learn something from your ideas and improve something.

Read Also:

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Technology

What is the share or stock market|How to invest in Stocks

Published

on

By

What is the share or stock market, invest in Stocks
Spread the love

The share or stock market is a place where you can earn a good amount of money by investing your money. This market depends entirely on the economy of the country, global signals, currency and rbi’s policies, etc. In this article, we will know what is the share or Stock Market, How to invest in stocks, Risk factors, etc.

What is the share or stock market?

The stock market or stock market is considered to be a market that is a collection of many markets and exchanges where shares are sold and purchased regularly by people. Here only those companies’ shares are bought and sold are listed in the share market.

Do you know, what is the place where people make profits even after putting their money at stake? That’s the place of the stock market. The share or stock market is a market where the shares of many companies are bought and sold. It’s a place where some people either make a lot of money or lose all their money. To buy shares of a company means to become a shareholder in that company.

What is the share or stock market, invest in Stocks

According to the amount of money you invest, you become the owner of that company by a few percent. which means that if that company will make a profit in the future, then you will get twice the money you have invested, and if there is a loss, then you will not get a single penny, that is, you will be completely at a loss.

Just as it is easy to make money in the share market in Hindi, in the same way, it is equally easy to lose money here because there are ups and downs in the stock market. So let’s start with information about the stock market. while investing in it, new investors have to face initial difficulties. but when the same investor starts to understand the stock market well, he becomes an experienced player.

How to Invest in Stocks

The first question before the person invests will be how to invest. first of all, decide when you need whatever investment you want to make because it allows you to choose long- and short-term stocks. be well aware of the company you will take to invest in. for this, you can take the help of consultants. you don’t have to invest in the same company. you can also invest in more than one company.

Required for Invest in the stock market:
  • Demat Account

For investment, you need to have a Demat account, for this, you will have to contact any bank or share brokerage companies like share mine, reliance money, and India infoline. until recently, there was physical trading of shares. shares were transferred directly. but now it’s not so. now, they are bought and sold through the Demat account of a bank or financial institution. you may buy and sell shares by yourself or a stock broking company in your place. You can create a Demat account with a brokerage like Grow, icici direct, etc. They will help you create your stock account.

Period of investment

Investors can adopt two types of ways to invest. long and short term investment. the investors can keep the shares purchased in the short term for 3-6 months. while shares purchased in the long term can be held by you for up to 6 months. ordinary investors are advised that long-term investments are right because day-trading and short-term investments are riskier.

Nowadays, trading of shares takes place electronically. this process is done through the Mumbai stock exchange and the national stock exchange. Apart from the exchange, investors can also take the help of popular brokerage houses/Apps are Zerodha, Upstox, icici direct, Grow, etc.

 

I hope you get the all information about shares or the stock market. If you like this article, you can share and comment. So that we too have a chance to learn something from your ideas and improve something.

 

Read Also:

Continue Reading

Computer

Difference between Vector and Raster graphics?Example

Published

on

By

Difference between Vector and Raster graphics with Example
Spread the love

Graphics help us to see the photo, video, Animation Popularly, and Vector Graphics are sharp and detailed than Raster Graphics. In this article, I Explain the Difference between Vector and Raster graphics with Examples.

What is the difference between Vector and Raster graphics?

Graphics are part of Multimedia. In Digital media like Photo, Video, Animation all these things are made by graphics. Graphics are two types Vector Graphics and Raster Graphics.

Vector Graphics

Raster Graphics

Vector Graphics are composed of paths. Raster graphics are composed of pixels.
Vector Graphics such as a.eps file or Adobe Illustrator file are composed of paths or lines, that are either straight or curved. Raster graphics Such as a .gif .jpeg is arranging of pixels of various colors, which together form an image.
The data file for a Vector image contains the points where the paths and ends how much the path curve, and the colors that either border or fill the paths. Raster graphics, on the other hand, become “blocky” since each pixel increases in size as the image is larger.
Vector Graphics is Capable of detailed editing. Raster graphics are Less detailed but offer precise paths.

Read Also: What is Multimedia in Computer With Example

Difference between Vector and Raster graphics with Example

Example of Vector Graphics Software with Format:

  1. Adobe Illustrator.
  2. CorelDraw.

Vector Graphics typically saved as EPS, AI, SVG, PDF Format.

Example of Raster graphics Software with Format:

  1. Adobe Photoshop.
  2. Gimp.

Raster Graphics saved as JPG, GIF, PNG, TIF, BMP Format.


I hope you get the all information about the difference between Vector and Raster graphics with Example. If you like this article, you can share and comment. So that we too have a chance to learn something from your ideas and improve something.

Read Also:

Continue Reading

Internet

what is FDDI network, ATM Explain| Full form FDDI, ATM

Published

on

By

What is ATM with Explain. Full-Form of ATM
Spread the love

FDDI and ATM both are part of the Network Operating System. Here in this article, You know about What is FDDI Network is, What is ATM with Explanation. Full-Form of FDDI, ATM.

What is FDDI Network Explanation


  • Full-Form of FDDI: Fiber Distributed Data Interface.

FDDI is a network protocol. Which is used primarily to interconnect two or more local area networks, often over large distances. The access method used by FDDI involves token-passing. FDDI uses a dual-ring physical topology. Transmission normally occurs on one of the rings; however, if a break occurs. So, the system keeps information moving by automatically using portions of the second ring to create a new complete ring. A major advantage of FDDI is Speed. It Operates over fiber optic cable at 100 Mbps.

What is FDDI network|FDDI full form

 

Read Also: What is Topology in Computer Network

What is ATM Explanation


  • Full-Form of ATM: Asynchronous Transfer Mode.

ATM is a network protocol that transmits data at a speed of 155 Mbps and higher. It’s working by transmitting all data in small packets of a fixed size; Whereas, other protocols transfer variable-length packets. Asynchronous Transfer Mode supports a variety of media such as video, CD-quality audio, and imaging. ATM employs a star topology, which can work with fiber optic as well as twisted pair cable.

Asynchronous Transfer Mode is most often used to interconnect two or more local area networks. It is also frequently used by Internet Service providers to utilize speed access to the Internet for their clients. However, as ATM technology becomes more cost-effective, it will provide another solution for constructing faster local area networks.

What is ATM with Explain. Full-Form of  ATM

I hope, you get the information about FDDI and Asynchronous Transfer Mode(ATM). If you like this article, you can share and comment. So that we too have a chance to learn something from your ideas and improve something.

Read Also:

 

Continue Reading

trending