The Art of Money by KG

PNB Housing Finance Ltd is the fifth largest housing finance company promoted by Punjab National Bank (PNB). The company is engaged in housing loan finance business having 51:49 investments from PNB and Carlyle Group. The Company conducts operations through an operating model which included 47 branches across the northern, western and southern regions of India and 16 processing hubs. Its distribution network included over 7,110 channel partners across different locations in India. PNB Housing Finance will open its public share sale on October 25 aiming to raise Rs 3,000 crore in what will be the second largest issue in 2016. The company has set a price band at Rs 750-775 per share valuing it at close to Rs 13,000 crore. IPO Details Subscription Dates 25 th – 27 th October 2016 Price Band Rs. 750- 775/- Total IPO Size Rs. 3000 crore only Minimum bid (lot size) 19 shares Face value of s

UPI is a payment system which is designed to transfer money between any two bank accounts by using a smartphone without the need to enter the bank account information or net banking user-id or password. National Payment Corporation of India (NPCI) has made bank applications for UPI operational and it can be used for money transfer. UPI is based on IMPS (Immediate Payment Service) which is used in Net-banking to transfer money 24*7. Why UPI? UPI can be used for peer to peer money transfer. It allows user to transfer money directly from a bank account to numerous merchants both online and offline. The benefit of UPI over IMPS is convenience. When using IMPS we need to access Net banking, add recipient using bank account details , IFS Code of bank, OTP, etc. Once added then you can send money after some time. Whereas in case of UPI, we only need to open the UPI app and enter payee ID that is simple to use. One step and money is transferred instantly.