National electronic Fund Transfer [NEFT] :- National Electronic Funds Transfer (NEFT) is one of the most prominent funds transfer system of India. Started in Nov.-2005,(1). NEFT is a facility provided to bank customer to enable them to transfer funds easily and securely on a one-to-one basis. it is done via electronic message . This is not on real-time basis like RTGS [Real Time Gross Settlement]. This is a “net” transfer facility which is executed in hourly batches resulting in a time lag. NEFT facilities are available in 30.000 bank branches all over the country and work on a batch mode.

NEFT has gained popularity due to it saving on time and the ease with which the transactions can be concluded . this reflects from the facts that 42% of all electronics transactions in the 2008 financial year were NEFT transaction..

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REAL TIME GROSS SETTLEMENT [RTGS] :- Real -Time gross settlement system (RTGS) are specialist funds transfer system where transfer of money or securities takes places from one bank  to another on a “real Time” and on “gross” basis Settlement in “real time” means payment transaction is not subjected to any waiting period …!

INSURANCE :- Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for money. It is a from of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or insurance carrier, is selling the insurance ; the insured, or policyholder , is the person or entity buying the insurance policy. the amount of money to be charged for a certain amount of insurance coverage is called the premium . Risk management, the practice of appraising and controlling risk. has evolved as a discrete field of study and practice..

# Necessasity of Insurance : – Many business owners or individual feel that insurance is an expense they cannot afford, or a luxury. Most people won’t claim buying insurance as their favorite thing to do. it is, Necessasity of insurance a necessity due to the risks we take in our daily lives.. Whether It’s health, disability, homeowner’s or long-tern care insurance, these policies help protect you financially in case something catastrophic happens..  

 Life Insurance and Non-life Insurance :- 

Life Insurance: Life insurance is an insurance cover that gives outa a certain amount to the insured or their nominated beneficiaries upon a certain event such as death of the individual who is insured .For our convenience and better understanding it won’t be wrong to state that life Insurance is related to a human life. It’s basically a long tern investment and requires periodic payments, either monthly death, income during retirement , illness . the main products for the same consists of   – whole life, endowment , tern , medical, and health, life annuity plan….

Non-life-Insurance : – Now, we move on to Non-Life Insurance which is cover things apart from the things covered in Life Insurance. It is Basically an insurance policy to protect an individual against losses and damages other than those covered by life insurance. The coverage period for most non-life insurance policies and plans is usually one year, whereby premium are normally paid on a one time basis. The risks that are covered by one-life insurance is property loss (stolen car or burnt house),liability arising from damage caused by an individual to a third party , accidental death or injury . The main products of non-life insurance includes  – motor insurance, fire /house owner /householders insurance, personal accident insurance, medical and health insurance and travel insurance..

Various Schemes :- Indian government, at all levels, announces welfare Schemes for a cross section of the society from time to time . These schemes could be either Central, State specific or a joint collaboration between the center and the State . In this section, we have attempted to provide you an easy and single point access to information about several welfare schemes of the Government an their various aspect including eligible beneficiaries , types of benefits, scheme detail ETC.. Some scheme are given below…..