The following table gives a crisp overview of small finance banks and Payment banks. Difference Small Bank Payments Bank Eligibility Professionals with 10 years in financial services or promoter group with 5 year track record Card Issuers, Finance Companies, Business Correspondents, Telecom Companies, Retailers etc. Capital Requirement Rs. 100 Crore Equity Capital Rs. 100 Crore … Read More →
The following eligibility criteria have been prescribed for listing of companies on BSE, through Initial Public Offerings (IPOs) & Follow-on Public Offerings (FPOs): The minimum post-issue paid-up capital of the applicant company (hereinafter referred to as “the Company”) shall be Rs. 10 crore for IPOs & Rs.3 crore for FPOs; and The minimum issue size … Read More →
Listing means admission of securities to dealings on a recognised stock exchange. The securities may be of any public limited company, Central or State Government, quasi governmental and other financial institutions/corporations, municipalities, etc. The objectives of listing are mainly to : provide liquidity to securities; mobilize savings for economic development; protect interest of investors by … Read More →
Company whether Indian or foreign is liable to taxation, under the Income Tax Act,1961. Corporation tax is a tax which is levied on the incomes of registered companies and corporations. A Company means:- Any Indian company, or Any corporate body, incorporated by or under the laws of a country outside India, or Any institution, association … Read More →
In this article we would like to outline some of the key benefits for incorporating an offshore company. Why Incorporate Offshore? 1. Low Taxation: Most offshore companies pay no local taxes on the income derived from offshore operations, i.e. from activities outside of the jurisdiction of company formation. These offshore companies include Belize IBC, Seychelles … Read More →
Multi-State Co-Operative Society A multi-state Co-operative Society is basically a society that is registered or deemed to be registered under the “Multi-State Co-operative Societies Act, 2002” and includes a national Cooperative society. A Multi State Co-operative Credit Society belongs to its members, who are at the same time the owners and the customers of their … Read More →
Here is what you need to know about the functions of payment pank and what are the benefits you can avail from it. What is Payments bank? Payments bank licence will allow companies to accept deposits (initially up to Rs 1 lakh per customer), and are allowed to pay customers interest on the money that … Read More →
Investors will soon get to know how much portion of their amount is used by mutual funds to pay distributors commission. The Securities and Exchange Board of India (Sebi) has asked mutual fund houses to clearly mention the actual commission, including gifts and junkets, given to distributors against the investments of an individual in the … Read More →
It usually takes five days to register a company in India, but for Wiziwig Learnings and Parnasa Mediworld it was a one-day affair. And it wasn’t just the two of them. Two other companies were also incorporated in a day, marking the successful launch of a pilot project by the ministry of corporate affairs in … Read More →
What is the role of recovery agents? How do they operate? What are the rules and regulations they have to abide by? What is the role of the RBI in the recovery process? As a layperson, you probably haven’t a clue, but could well find yourself in their net one day! Read on to keep … Read More →