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Showing posts with the label Money

What is UPI and How it Works ?

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There was a Time 9-10 years back when the Shopkeeper or the Customer does not have a Change( Chhutta) in their pocket. Sometimes we buy a product of 10-20rs and give the shopkeeper a big note of 100 or 500rs but they do not have change amount to return us( bhaiya chhutta nahi hai ). Similarly if we urgently want to send someone money then we have to go to the bank standing in long queue or sometimes if we want urgent money then we have to wait for a long time for the money to get credited in our account. There was a time when transactions were made via cheque, deposit form, or ATM machine and if the transaction went unsuccessful due to any technical or mechanical fault then again we have to complain to the bank and get our problems solved which takes a lot of time, sometimes the bank employee is absent or the bank is closed due to certain reasons or the employee is not listening to our problems we get hesitated so much.  But after the introduction of UPI(Unified Payments Interface) in

Where does the Government Keep it's Money ?

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 We all have in our pockets a personal wallet where we keep our money in the form of Cash or Credit/Debit Cards but have you ever wondered where does the Indian Government keeps it's money. From where Government takes money to implement the schemes, build roads, highways, give salaries to government officials and ministers etc. There are 3 types of Funds or we can say wallet of the Indian Government. Money: Image is for representative purpose only Consolidated Fund Of India: Under Article 266(1) of the Indian Constitution  "All revenues received by the Government by way of Taxes like Income Tax, Central Excise, Customs and other receipts flowing to the Government in connection with the conduct of Government Business i.e. Non-Tax Revenues are credited into the Consolidated Fund Of India" .  - All States can have their own Consolidated Fund and in the Central Government the Comptroller and Auditor General Of India(CAG) is responsible for making audit to this fund. The Gover