Lending Rate: Lending rate/ interest rate represents the amount charged by financial institutions for the money it lends as loan to bo...
Showing posts with label BANKING-INSURANCE. Show all posts
Showing posts with label BANKING-INSURANCE. Show all posts
Modes of creating Charge on Property
In the context of Lending by financial institution, Security refers to asset deposited/pledged by the borrower for any kind of credit f...
Micro Units Development & Refinance
Who gives loan under Mudra scheme? Micro Units Development and Refinance Agency Ltd. (MUDRA) is a public sector Non-banking financial ins...
Minimum Alternate Tax
Why was it introduced? Companies were reporting profits as per their books (financial statements) but were paying lesser taxes and in so...
RBI expands scope of remittances to International Financial Services Centres
RBI, through its notification RBI/2024-25/49 dated 10th July 2024, has expanded the scope of remittances to International Financial Service...
Cryptocurrencies and Anti-Money Laundering Compliance
On 20 Jun 2024, India’s Financial Intelligence Unit (FIU) imposed fine of Rs 18.82 crore on cryptocurrency exchange Binance, for violating A...
RBI brings back 100 tonne of its Gold reserve back from abroad
On May 31, 2024, TOI reported the news about RBI bringing back 100 tonnes (1 lakh kilograms) of gold from UK bank vaults to its Indian dom...
Will Indian Banks be adopting Ind AS any soon?
In the year 2006, ICAI commenced the process of shifting towards IFRS, considering India’s growing presence in global platform and consequen...
Launch of major digital initiatives by RBI
RBI Governor Shaktikanta Das on Tuesday (May 28) Launched three major digital initiatives namely PRAVAAH portal, retail direct mobile app a...
What are Electoral bonds?
Background: Previously no corporate company was allowed to make donations amounting to more than 7.5% of their total profit or 10% of revenu...
Credit Guarantee for MSME- Part 2
In continuation of part-1 of the article on Credit Guarantee scheme for SME, we will see other points in detail: Coverage Criteria: Recent A...
Credit Guarantee for MSME- Part 1
What is credit guarantee for MSE scheme? Credit guarantee for MSE is scheme launched by government of India in the year 2000, where collate...
All about Statutory Liquidity Ratio
What does it mean? SLR is requirement by RBI that a certain percentage of a bank's net time and demand liabilities, has to be mainta...
FCRA license of a prominent Think Tank suspended
The FCRA license of think tank-Centre for Policy Research(CPR) has been suspended amid IT probe, by Ministry of Home Affairs, following ...
Landmark in India-Singapore Digital partnership
Indian PM Narendra Modi and PM Singapore Lee Hsien Loong, witnessed the launch of Real-time payments systems linkage between India's Un...
Reliance Retail: Digital Currency
Reliance Digital has become the first Indian company to facilitate digital currency aka Central Bank digital currency(CBDC)payment initiat...
RBI cancels the license of 2 NBFCs for lapses in digital lending.
RBI cancels the registration Licence of two NBFCs, kudos finance investments and credit gate private limited, from Pune and Mumbai respectiv...