Digital Finance - BBA NOTES CHITKARA UNIVERSITY

SUBJECT NAME - DIGITAL FINANCE

UNIT - 1

Financial Literacy, Digital tools used for Financial Literacy: Advantages and Challenges, Developing Digital Education Financial Initiatives, Basics of Savings and Investment: Understanding the importance of investing and savings using digital platforms, Savings Vs Investment, Power of Compounding, Objectives of investment, Risk and Return, Inflation effects on Investment, Management of spending and financial discipline using personal financial management tools and calculators, social media, online training, digital quizzes, mobile apps, and any innovative use of technology applied to the provision of financial education.

UNIT - 2

Banking products and services: Types of banks; Banking products and services –Types of bank deposit accounts – Savings Bank Account, Term Deposit, Current Account, Recurring Deposit, PPF, NSC etc.; Formalities to open various types of bank accounts, PAN Card, Address proof, KYC norm; Various types of loans – short term, medium term, long term, microfinance, and related interest rates offered by various nationalized banks and post office, Cashless banking, e-banking; CIBIL, ATM, Debit and Credit Card, and APP based Payment system; Banking complaints and Ombudsman. Unified Payment Interface (UPI). Digitisation of financial transactions: Debit Cards and Credit Cards, Net banking and UPI, digital wallets, security and precautions against Ponzi schemes and online frauds.

UNIT - 3

Investment opportunity and financial products, Insurance Planning: Life and non-life including medical insurance schemes, protection-related products: Insurance Policies, Life Insurance, Term Life Insurance, Endowment Policies, Pension Policies, ULIP, Health Insurance and its Plans, Understanding of Ponzi Schemes

UNIT - 4

Aspects of Personal tax planning, Understanding Tax saving Schemes- Government Schemes National Saving Certificates, Public Provident Fund, Post Office Schemes, Equity Linked Savings Schemes, Retirement Benefits Schemes- NPS (New Pension System) through mobile Apps and social media, Exemptions and deductions for individuals, E-filing of personal tax.

DIGITAL FINANCE - CHITKARA UNIVERSITY