ATM Card Plastic Money Credit Card Debit Card VISA RUPAY MASTER Card Card Network
ATM Card Plastic Money Credit Card Debit Card VISA RUPAY MASTER Card Card Network
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LearningTranscript
00:00Jai Hind. Today we will understand about Plastic Money in which ATM comes.
00:04ATM is basically divided into Credit Card and Debit Card.
00:07What is the difference between them?
00:08Visa, MasterCard or Rupee is written on the ATM.
00:12Which one is better?
00:14And under which rules has the Indian Government and RBI banned the MasterCard from issuing new cards?
00:19ATM's full name is Automated Tailor Machine.
00:23It was invented in 1967 in England.
00:28But the inventor's name was John Seyford Boren.
00:31He was born in 1925 in Sillong, Meghalaya, India.
00:35So his inventors were Indians.
00:39Today, ATM has become very popular.
00:41In this ATM card, there are two types of cards.
00:44One is Debit Card.
00:45What is Debit Card?
00:46It is a way to withdraw money from your own bank.
00:51Card and any type of ATM doesn't have money.
00:54It is kept in our account.
00:55ATM is of no use.
00:57In olden days, you had to go to the bank to withdraw money.
01:01You had to fill a withdrawal form.
01:04Or you had to sign a cheque.
01:06Any bank would give you money.
01:08The good thing about this system was that it was secure.
01:10There were no hacks.
01:11But the biggest drawback was that it would only work when the bank was open.
01:15And it took a long time to proceed.
01:18It took a long time to proceed with the cheque.
01:20And on Sundays, the bank is closed.
01:22On holidays, on festivals, at night.
01:25You couldn't withdraw money from the bank for 24 hours.
01:28This is what ATM is for.
01:30For ATM, you don't have to go to the bank.
01:32It costs a lot to set up a bank.
01:35Its buildings, its power backup, its staff, management.
01:38It costs a lot.
01:39Whereas, there is no cost in setting up an ATM.
01:41If a branch is set up, it will cost 50 ATMs.
01:44And the money will be the same as the bank will give.
01:46So, a very good system started working here.
01:49The ATM card that the bank gives us, it has a debit card on it.
01:53So, the debit card has become a super fast medium to withdraw money.
01:57You can withdraw money day and night.
01:59You can withdraw money 24 hours and 7 days.
02:01You can withdraw money 365 days.
02:04So, this is a very good benefit.
02:06We can withdraw the same amount of money as in your account.
02:09You can withdraw 2 lakhs or 2.5 lakhs.
02:11But you can't withdraw.
02:12Because this is the only way to withdraw money from your account.
02:14So, whenever you open an account in a bank,
02:18you will see an ATM card.
02:20And the debit card is given on it.
02:22You don't get a credit card.
02:23To get a credit card, you have to fulfill some terms and conditions.
02:27Only then you get it.
02:28The debit card is considered more secure than the credit card.
02:31Because on the debit card, you will see that there is a lot of security.
02:33First, there is an ATM card number of 16 letters.
02:37Then there should be an expiry date on it.
02:39At the back, there is a card verification value, i.e. CVV number.
02:42There are 3 letters on it with a sticker.
02:45These security labels are not that strong.
02:48Because if your ATM card falls on the road,
02:50you will get it.
02:51You will get to know the security of all three.
02:52ATM number, expiry date, CVV number.
02:54But when it goes to withdraw money,
02:56it will need a PIN.
02:58You have to memorize it.
03:00You know it.
03:01So, until you don't put a PIN, you won't withdraw money.
03:03After withdrawing money,
03:04What do people do in India?
03:06They will put a cancel button.
03:08No one is watching.
03:09They will put a cancel button 20 times.
03:11For satisfaction, no one can withdraw money.
03:14The ATM machine works only once.
03:16If you put a password,
03:18why not your ATM?
03:19If you withdraw money again,
03:21you will ask for the password.
03:22So, there is nothing to be afraid of.
03:24Now, let's assume that a person has got your ATM.
03:27He goes to the ATM and says that
03:29he wants to change the PIN.
03:32He wants to change it by putting a FORGET PIN.
03:34So, there is a way for that too.
03:36Whatever mobile number you have given in your bank,
03:39the same mobile will have a one-time password, i.e. OTP.
03:41It expires in 10 minutes.
03:43OTP is for single time.
03:44So, there is a lot of security in this.
03:46It cannot be taken without your permission.
03:48But there is a compromise in the security in the credit card.
03:51Now, let's understand the credit card.
03:53What is a credit card?
03:54In the earlier times,
03:55to take a loan,
03:56you had to take a loan from your relative
03:58or from the monthly interest rate of 5-10%.
04:02Whereas, the bank gives a very cheap loan.
04:04Now, if you take a loan in your village,
04:06it will take 5% every month.
04:07In a year, it will take 12-60%.
04:09If you go to the bank,
04:11it will take 10-12% for a year.
04:13So, the bank loan is very cheap.
04:15But it is very difficult to take.
04:16It will take 15-20 days.
04:17Now, you need 50,000 rupees.
04:19You need it in a week.
04:21So, in a week,
04:22you will have to go to the manager of the bank.
04:24Then he will ask you to pay the mortgage.
04:25In return, you have to keep some security,
04:26keep some jewelry,
04:27or let's say,
04:28land, car, etc.
04:29Everything is very difficult.
04:31It takes 15-20 days.
04:32And after that,
04:33you have to take a lot of trouble.
04:34So, to solve all this,
04:36a fast formula was found
04:38that you will get a loan from Hachak.
04:42So, the loan giving card from Hachak
04:44is called a credit card.
04:45Remember,
04:46this is not your money.
04:47You have to return this money.
04:49So, what you used to ask from the bank,
04:51now you will get it in a credit card.
04:53So, not everyone gets this credit card.
04:55The customer on whom the bank believes
04:57that he will return my money,
04:58he is given a credit card.
05:00Now, with that credit card,
05:01whenever he wants,
05:02night, day, 24 hours,
05:04whenever he wants,
05:05he can withdraw the loan.
05:06But there is also a loan limit.
05:08In the beginning,
05:09a low limit of 25,000 is given.
05:10Gradually,
05:11he is given 50,000,
05:121 lakh, 2 lakh,
05:13gradually,
05:14up to 3 lakh,
05:15the limit is given in the credit card.
05:17So, without going to the bank,
05:18without asking from your relatives,
05:20without giving interest to anyone,
05:22you can withdraw money from Hachak
05:23with the help of a credit card.
05:25And for 30 to 40 days,
05:26you don't have to give
05:27a single rupee interest on it.
05:29Now, it depends on the rules of different banks
05:31that they are giving 30 days or 40 days.
05:34It also depends on the amount of money.
05:36Is it more money or less money?
05:37But overall,
05:38it stays for 30 to 40 days.
05:39How good it is!
05:40Let's say,
05:41we need 50,000 in an emergency.
05:42We will go to the bank to take a loan.
05:43He will take an interest from us.
05:45If we ask from our relatives,
05:46he will give us a favor.
05:47If we ask from a contractor,
05:49he will give us an interest of 5%.
05:51It is better than that.
05:52If I have a credit card,
05:53I will take it out of my pocket
05:54and show it to someone in the hospital.
05:56We needed 50,000
05:57for emergency treatment.
05:58We will pay the doctor
05:59with the same credit card.
06:01After 40 days,
06:02we will give it to the bank.
06:03The bank will not take interest from us.
06:04So,
06:05this credit card is very good.
06:06Now,
06:07there is some goodness
06:08and some badness
06:09in the credit card.
06:10It is given to you on purpose
06:11to spoil your habit.
06:12Now,
06:13let's understand
06:14some good things about it.
06:15See,
06:16in the credit card,
06:17we often get cashback offers.
06:18If you buy something for 100 rupees,
06:19you will get a cashback of 10 rupees.
06:20So,
06:21compared to the debit card,
06:22there are more offers
06:23on the credit card.
06:24Along with this,
06:25there are some reward points.
06:26And often,
06:27there are such offers
06:28that if you have 100 points
06:29of the credit card,
06:30then you can buy
06:31these things and take them.
06:32So,
06:33he does not need money,
06:34he needs points.
06:35Now,
06:36how do these points come?
06:37Points are earned.
06:38For example,
06:39whenever you shop
06:40on Amazon,
06:41you will get
06:422-4 points.
06:43Sometimes,
06:44if you book a ticket for a plane,
06:45you will get 10 points.
06:46So,
06:47by collecting such points,
06:48if you have 100 points,
06:49then you do not have
06:50to pay money
06:51to buy those 100 points.
06:52You had bought
06:53something else.
06:54It was given to you
06:55as an offer.
06:56Now,
06:57when it is collected,
06:58you can use it
06:59to buy something else.
07:00Along with this,
07:01you sometimes get
07:02some bonus coupons.
07:03Along with this,
07:04if you book a flight ticket
07:05or any other thing,
07:06it is cheaper than the credit card.
07:07It is a little expensive
07:08than the debit card.
07:09Sometimes,
07:10you get an offer
07:11on Amazon
07:12that if you book
07:13on the credit card,
07:14you will get
07:155-6 thousand more discount.
07:16You do not get
07:17discount on the debit card.
07:18Along with this,
07:19there are some things
07:20whose payment
07:21you can do
07:22only with the credit card.
07:23They do not take money
07:24from the debit card.
07:25Although,
07:26such things are
07:27very less.
07:28But,
07:29they are restricted there.
07:30So,
07:31the benefit of the credit card
07:32is here.
07:33But,
07:34the main thing is
07:35that the credit card
07:36is given to you
07:37to spoil.
07:38So,
07:39how do you
07:40do through the credit card?
07:41Consider some of its disadvantages.
07:42You do not have
07:43money in the credit card.
07:44So,
07:45by mistake,
07:46do not withdraw
07:47the cash from it.
07:48Because,
07:49the penalty fee
07:50is very high
07:51on withdrawing the cash.
07:52Yes,
07:53you can do shopping
07:54or billing with this.
07:55It is better than
07:56withdrawing the cash.
07:57Ask the same person
07:58that how much do you want?
07:59Give me 2,000 rupees.
08:00I will pay you
08:01with the credit card.
08:02Do not withdraw
08:03the cash and give me
08:042,000 rupees.
08:05Otherwise,
08:06the cash withdrawal
08:07will add
08:08a heavy interest
08:09on this.
08:10The third disadvantage
08:11is that it is not
08:12as secure as
08:13if you go
08:14for shopping
08:15and buy something
08:16for 20,000 rupees.
08:17So,
08:18it will show you
08:19the billing
08:20for 20,000 rupees.
08:21Now,
08:22swipe the card
08:23and the money
08:24will not be deducted.
08:25You will have
08:26to insert a PIN.
08:27Insert a PIN
08:28and withdraw the card
08:29and your 20,000 rupees
08:30will be deducted.
08:31But,
08:32you need to insert a PIN
08:33only in the debit card.
08:34You do not need
08:35a PIN in the credit card.
08:36If your credit card
08:37falls somewhere,
08:38anyone who finds it
08:39will go shopping
08:40and withdraw
08:41the money.
08:42If your credit card
08:43disappears,
08:44then it is a matter
08:45of great concern.
08:46So,
08:47you should
08:48immediately
08:49close the credit card.
08:50Even if the debit card
08:51disappears,
08:52if you do not know
08:53the PIN,
08:54it is of no use.
08:55So,
08:56it is very easy
08:57to close
08:58or block
08:59the credit card
09:00compared to the debit card.
09:01Along with this,
09:02it increases
09:03your expenses.
09:04For example,
09:05if you go shopping,
09:06you can buy
09:0710,000 rupees.
09:08Let us buy
09:099,000 rupees
09:10for 1,000 rupees
09:11for emergency.
09:12But,
09:13if you have a credit card,
09:14you will say
09:15that you have a limit
09:16of 50,000 or 60,000 rupees.
09:17You can give
09:18up to 1,00,000 rupees
09:19to the bank.
09:20So,
09:21where you should
09:22buy 10,000 rupees,
09:23many people
09:24buy 12,000 rupees.
09:25So,
09:26credit card holders
09:27do not have
09:28small cities
09:29or villages.
09:30But,
09:31in cities like Delhi
09:32and Mumbai,
09:33credit card holders
09:34will finish
09:35their salary
09:36by 10th
09:37and then
09:38they will
09:39spend money
09:40on the credit card.
09:41So,
09:42it increases
09:43your expenses.
09:44In today's
09:45modern culture,
09:46the bank
09:47is also taking
09:48advantage
09:49of boy and girl.
09:50A new job
09:51or a youngster
09:52will be given
09:53a credit card.
09:54Now,
09:55he will go
09:56to the credit card
09:57and give him
09:58a gift.
09:59Earlier,
10:00the father
10:01did not send money
10:02to the bank.
10:03Now,
10:04the father
10:05will give him
10:06a gift.
10:07Now,
10:08the father
10:09will give him
10:10a party.
10:11This increases
10:12his expenses.
10:13Suppose,
10:14you take a
10:15gift of
10:16500 rupees
10:17and the
10:18man
10:19is
10:20very happy
10:21and
10:22very happy
10:23and
10:24you say
10:25that
10:26you will
10:27give him
10:28a gift
10:29of
10:303000 rupees.
10:31Now,
10:32you
10:33say
10:34that
10:35your
10:36father
10:37will
10:38give him
10:39a donkey
10:40to dance
10:41with.
10:42What will
10:43happen?
10:44The credit
10:45card
10:46will
10:47help.
10:48The
10:49man
10:50will
10:51take
10:52the
10:53donkey
10:54and
10:55give him
10:56a gift
10:57of
10:583000 rupees.
10:59What
11:00will
11:01Now see, if you give him a gift of Rs. 3000 once,
11:04the next time if you give him a gift of Rs. 500,
11:07he will say that the expenses are getting less these days,
11:10is it because of some other reason?
11:11Is it because of the RBI machine?
11:15That's why don't get involved in all this,
11:16otherwise there will be a lot of debt due to the credit card,
11:19then there will be a problem.
11:20Live well, spend as much money as there is in the debit card.
11:23Be smart, there is no need to give gifts in the credit card.
11:26See how smart he is, he is walking on the debit card.
11:28He has brought him, he is drinking Satu in the party.
11:30He has kept his Satu, he has kept his Satu.
11:33He is drinking Satu in Rs. 10,
11:35this is the right tonic.
11:36There is Satu, that's what happened here.
11:38See, there is no difference,
11:40no matter how much gift you give,
11:41all the students say,
11:43no matter how much shopping you do,
11:46give the most expensive gift,
11:47give teddy bear,
11:49give the most expensive teddy bear,
11:51she will not play with it.
11:53Whenever she plays, she will play with your career
11:56and ruin your life.
11:57That's why it's better to focus on your life,
12:00make your career,
12:01don't pay too much attention to all these things.
12:02Nowadays, it has become a fashion,
12:04the fashion of teddy bear,
12:06the fashion of dairy milk.
12:07Most of the people who have teddy bear,
12:09see, there is a high chance that
12:11they would not have bought that teddy bear.
12:14They would have given some other gift.
12:16So, all those who have teddy bear,
12:17see, they have given some other gift.
12:19And the boy is also not less.
12:21If a boy is buying dairy milk,
12:23there is a high chance that he will not eat it himself,
12:26he will give it to someone else.
12:28And the boy is less smart.
12:29The girl thinks that he is giving dairy milk.
12:31The boy is very smart.
12:33He does not know whether she will get trapped or not.
12:35That's why he wants to reduce the investment.
12:38He thinks that let's invest in 10 rupees first
12:40and see if the share will come to us or not.
12:42When he sees, oh, he is doing well.
12:44So, instead of 10 rupees,
12:45he invests 40 rupees in dairy milk.
12:47Anyway, we come to our topic.
12:49So, now we have understood the difference
12:51between credit card and debit card.
12:52Which one is safer between the two?
12:53The debit card is safer.
12:54Not everyone gets a credit card.
12:56Most of the boys have a debit card.
12:59The credit card is given by the bank
13:01on which the bank believes.
13:02Credit card and debit card,
13:03we call both of them plastic money.
13:06Now, whether it is a credit card or a debit card,
13:08you must have seen the name of the bank on the ATM.
13:11Like there is a Union Bank here.
13:12There are different banks,
13:14like there is an SBI bank here.
13:15So, you must have seen the name of the bank.
13:17Along with that, you must have seen here
13:18that money must have been written,
13:19visa must have been written,
13:20or master card must have been written.
13:22These three you get to see more.
13:24Like 50% market has captured visa,
13:2830% has captured master card,
13:30and 20% has captured rupee card.
13:34Although, if you see,
13:35rupee has also increased.
13:37But these are used very forcefully.
13:40After all, what is all this?
13:41So, understand what it is.
13:43In the beginning, when the ATM card was introduced,
13:46the ATM of the bank,
13:48like ICICI's ATM,
13:50you could withdraw money
13:51from the ATM machine of ICICI.
13:54Earlier, it did not happen that
13:55you could put money in any ATM of any bank.
13:58But it was not like that earlier.
14:00Earlier, the ATM of the bank
14:02used to work in that bank.
14:03But as the population increased,
14:05people were connected to the bank.
14:07In Jan Dhan Yajna,
14:09there was a very good effort
14:10to connect the whole people to the bank.
14:11So, when the crowd started increasing in the bank,
14:13then it was found that
14:14someone was in need of an emergency.
14:15After that, the SBI ATM
14:17was not working in HDFC.
14:19So, this was the system earlier.
14:21I mean, in the very beginning,
14:22when there was a new demand for ATM,
14:25why did this happen?
14:27Look carefully.
14:28Let's assume that
14:29someone has an account in SBI.
14:32Let's assume that I have an account in SBI.
14:34And we went to withdraw money from Punjab Bank's ATM.
14:37If we insert an ATM card in it,
14:39how would he know who we are?
14:40We have opened an account in SBI.
14:42My name, date of birth, mobile number,
14:45how much money is in my account,
14:46OTP, etc.
14:47SBI knows everything.
14:49SBI did not give the card.
14:50We will give it to him.
14:51He does not know.
14:52The machine will say,
14:52who are you?
14:53We do not recognize you.
14:54We did not recognize you.
14:56Why?
14:56Because this bank has only one way
14:59to give all the data to PNB.
15:01To give it to different banks.
15:03I mean, all the banks
15:04should give information about their customers
15:05to everyone here.
15:07Only then money could be withdrawn there.
15:09What was the drawback of this?
15:11Every bank would want to
15:13break the customer of another bank.
15:14Because if he finds out the data,
15:15let's say ICICI finds out
15:17that SBI has 100 richest people.
15:20If he finds out whose money it is,
15:21he will call them and say,
15:22sir, we will give you more facilities.
15:23Isn't it?
15:24He will start disturbing them.
15:25He will call them and say,
15:27hello, I am speaking to ICICI bank.
15:30Should I cut you?
15:32Then you will say, no, don't cut me.
15:33Think about it.
15:34He keeps calling all day long.
15:36So the bank does not want to give
15:37its data to others.
15:38If you don't give it,
15:39how will he withdraw the money?
15:41So this is what the card network does.
15:43What is the card network?
15:44Understand carefully.
15:45There are different banks.
15:46Let's say PNB is here.
15:48SBI is here.
15:50ICICI is here.
15:51So all these banks give you ATM.
15:55That bank is called a card issuer.
15:57Now what happens in a card issuer?
15:59There are banks.
16:00So in every bank,
16:01let's say my account is in SBI.
16:03So my information is with SBI.
16:06So what will SBI do?
16:07It will give all my information
16:08to the card network.
16:10The network will be written on my card.
16:12For example, a visa will be written
16:13or MasterCard or Rupee.
16:14So my information went to two people.
16:17The first one went to my bank
16:18where my account is.
16:19The second information went to them.
16:21Now their rule is that
16:23they cannot share this information with anyone.
16:26Now what will happen?
16:27Let's say I had money in SBI.
16:29We went to withdraw money
16:31from your Central Bank of India.
16:33So the Central Bank of India
16:35does not know about me.
16:36And he cannot ask SBI directly.
16:38And even if he asks,
16:39SBI will not tell him.
16:41It will say no.
16:42It will say that you will provoke my customer.
16:43So who has SBI given its information to?
16:46To the card network.
16:48Let's say I had a Visa card.
16:51So my information was with Visa too.
16:53So the ATM of the Central Bank
16:56will not ask for my information from SBI.
16:59It will ask for it from my network, Visa.
17:02And Visa will provide it
17:03that yes, the man is fine.
17:04He has money.
17:05You withdraw his money and give it to him.
17:07So now you understand
17:08that ATM can be withdrawn from any bank
17:12through whom?
17:13Through the card network.
17:15Data stays with them.
17:16And they send you OTPs.
17:18They make cards and send them.
17:19They provide different facilities.
17:21They block your number.
17:22They do all this.
17:23In return, they take the same charge.
17:25But they do not tell
17:27that we are charging you 500-600 rupees annually.
17:30What do they do?
17:31They tell the card issuer bank
17:34that look, your customer is using the card.
17:37You can deduct 500 rupees every year
17:38and send it to us.
17:39Now you will think
17:40that there is so much facility in 500 rupees.
17:41Think brother,
17:42there is one ATM in every house.
17:45They are earning crores of rupees.
17:47They are earning from all over the world.
17:48This is how it works.
17:50Now let's say
17:51we will withdraw money from SBI.
17:54Where?
17:55In PNB.
17:56So the Punjab National Bank
17:57as soon as we put our card in it,
17:59who will it ask for this information from?
18:01It knows that this is SBI's ATM.
18:04The card we have put in it is SBI's.
18:06But will it ask from SBI or not?
18:07It knows that it will not give SBI.
18:09So who will it ask from?
18:10From the card network.
18:11Now the card network can be my MasterCard
18:14or the card network can be my Visa.
18:16Now it will ask from Visa
18:17to find out from which account.
18:19I will say, yes, yes, I know.
18:20SBI has their account number.
18:22Etc.
18:23You don't have to save.
18:24ATM machine cannot save anyone's data.
18:27So it will tell it.
18:28The money will be withdrawn here.
18:29Do you understand or not?
18:30Now it comes to
18:32who is best among these three?
18:33Rupee, Visa or MasterCard.
18:35Who is best among these?
18:36So see,
18:37this is a US company.
18:39In India, it has captured 50% market.
18:42This is also a US company.
18:43In India, it has captured about 30% market.
18:46It means that
18:47we can give your money
18:49nationally as well as internationally.
18:52It means that if you want to withdraw money from abroad,
18:55we can give it to you.
18:56Do you understand or not?
18:57Now, when India made its Rupee card,
19:00it was only running in India in the beginning.
19:02But in Rupee card,
19:03there is a Platinum card of Rupee.
19:06It also runs internationally.
19:07So now all three are international.
19:10But if you take Visa,
19:12it will run internationally.
19:14If you take MasterCard,
19:15it will run internationally.
19:17But if you take Rupee,
19:18you will have to say specially
19:19that we also have international work.
19:21Give us a Platinum of Rupee.
19:22Now in the minds of people,
19:24in the people of India,
19:25there is a lot of tendency to show-off.
19:27See, if someone buys a car,
19:28he will go somewhere to sit.
19:30He will put the car key on the table.
19:31He will not tell that we have bought it from the car.
19:33He will show the car key.
19:34That we have a car.
19:36Do you understand or not?
19:37This is what happens.
19:38Brother,
19:39someone has 25,000 rupees in his account.
19:40Now he says that he wants a Visa card,
19:42not Rupee.
19:43If you take Rupee 25,000,
19:44you will not go to London.
19:46What work does he have here?
19:4890% of the Visa cards used in India
19:51are never sent abroad.
19:53But they want Visa here.
19:55If you take Visa,
19:57you will take Rupee 500 every year.
19:59You will take it to America.
20:00Keep the Rupee card with you.
20:01And if you are very fond of it,
20:02then you can take Rupee.
20:04Say, give me Platinum.
20:05I have to go to Delhi,
20:06New York, Bangkok, Singapore.
20:07Keep roaming here.
20:08So, become self-reliant.
20:09Let's join hands.
20:10This is our country.
20:11Only we can move it forward.
20:14The Chinese never use this account.
20:16They use their own payment gateway.
20:18So, you also use Rupee.
20:20Don't be in showbiz.
20:21Showbiz does not do anything.
20:22The truth cannot be hidden
20:24by the principles of manufacturing.
20:25The fragrance cannot come
20:27from the flowers of paper.
20:29So, don't show off yourself.
20:31Don't try to sit on the throne.
20:32Become a king yourself.
20:33Wherever you sit,
20:34the throne will come.
20:35People want Visa here.
20:36So, did you understand the difference between the three?
20:38Now understand.
20:39These were all foreign companies.
20:40Now, what was wrong with these foreign companies?
20:43They used to take your data.
20:45Be it Visa, MasterCard or anything else.
20:48They used to take your data.
20:49Now, how will you save this data?
20:50For example, we want to save some information.
20:52I want to save my name and mobile number.
20:54You can save it in your mobile.
20:55If you want to save my photo,
20:56you can save it in the gallery.
20:58But if you want to save a lot of things,
21:00you can do it in a pen drive.
21:01If it is bigger than that,
21:02you can save it in a hard drive.
21:03And if you want to save a lot of data of the world,
21:06to save a lot of hard drives,
21:09you have to make a big data house.
21:11The whole building is a big data house
21:13in which there is a hard drive.
21:15This is where all the data is stored.
21:16Now, what was MasterCard?
21:18This data center was not there in India.
21:21Now, the Indian government said on 6th April 2019
21:26that the same card network,
21:28whether it is Visa, Rupee,
21:30Rupee is Indian,
21:31or MasterCard or any card,
21:33it will have to keep the data of India in India.
21:36It will have to make a data center in India.
21:38Foreigners cannot take that data.
21:39You will say, even if it goes, what will happen?
21:42Now, if the data is taken to America,
21:45then the American company knows
21:47that there is 2 lakhs in Faluniya's account
21:49and there is 2 crores in someone else's account.
21:51What will that company do?
21:52It will sell it to America.
21:53So what will the American advertisers do?
21:55That person will be shown
21:57through Google or WhatsApp or Facebook or YouTube
22:02the advertisement of a cheap car for 2 lakhs.
22:05Buy a high car, buy a low car.
22:07He knows that he is a cheap man.
22:08And whoever has 2 crores,
22:09he will show it.
22:10Buy this, buy Audi,
22:12buy BMW, buy Mercedes.
22:14So he will benefit from this.
22:16The whole game is about data.
22:18You can search on Google once
22:20that we have a wooden cupboard.
22:22You see, you have a wooden cupboard for 3-4 days
22:25that the advertisement comes from time to time.
22:28What is the game of data?
22:29So the government said that
22:30we should use our data here
22:32so that our companies can choose their customers.
22:35Now we know that if a person has 20,000 rupees,
22:39tell him that Lamborghini is like this.
22:41What will he do with Lamborghini?
22:43So the Indian government said
22:44that you have to do data localization in India
22:46in 6 months.
22:46But the corona jumped.
22:48First wave, second wave.
22:49After all, the government said that
22:51July 22, 2021 should be done by today.
22:56Even on this date, the MasterCard did not do it.
22:59So the RBI said that
23:01the MasterCard cannot issue a new card.
23:04As much as the issue has been done,
23:05there will be no problem in it.
23:07The MasterCard also said that
23:08we will do it.
23:09So the RBI said, okay, do it.
23:12Make such a data building in India.
23:14Buy a lot of hard drives.
23:16Link everyone together.
23:17Keep a good AC running in it.
23:19Then we will give you permission.
23:20Do you understand?
23:21So you understood this card etc.
23:23In addition to this,
23:23you will see that there are many terms in banking.
23:26Like how to fill a cheque.
23:28Barrier cheque, cross cheque,
23:30account pay cheque, order cheque.
23:32In the question of economics,
23:33CGL or SSC asks a question.
23:36In addition, in money transfer,
23:38UPI is very popular these days.
23:39If you go to the bank and ask,
23:40do you want to do NFT,
23:41RTGS or IMPS?
23:43What is the difference in this?
23:44If you look at the type in the bank account,
23:46then there can be saving,
23:47there can be current.
23:48Recurring account which is called RD.
23:49Fixed Deposit which is called FD.
23:51Demat account in which the share market opens.
23:53Account for NRIs who work abroad.
23:56What is the difference in different accounts?
23:58In addition, you will see,
23:59for long term,
24:01like in old age,
24:02let's say Pato ran away,
24:03then from where will you eat?
24:05For all this,
24:06there is a provident fund.
24:07Money kept for the future.
24:09So the question is also asked about the provident fund.
24:11Now say such a big word,
24:13that provident fund in old age,
24:14Pato will run away,
24:15then we will eat from it and live.
24:17So don't say that.
24:18So what is the provident fund called in the shortcut?
24:20It is called PF.
24:21Now this PF is of many types.
24:23Employee provident fund is called EPF.
24:26Public provident fund is called EPF.
24:28Although you must have got these two,
24:29PPF and EPF.
24:30You must have heard it.
24:31It was also mentioned a lot a few days ago.
24:33Although there are two more,
24:34GPF and VPF.
24:35We will explain all this to you sometime.
24:37Then if you understand this PF,
24:39then you will have to understand the stock.
24:41You will have to understand the mutual fund.
24:42We will explain all this in an on video.
24:44Today you must have understood about
24:46plastic money, ATM, debit card, credit card.
24:48See you in the next class.
24:49Jai Hind.