RBI To Make Funds Transfer Via Smart phones Easier: The Reserve Bank of India (RBI) on Monday said it will become easier in the coming weeks for people to transfer funds between bank accounts through their smartphones. Speaking at the IDRBT Banking Technology Excellence Awards function, RBI Governor Raghuram Rajan also made a case for … Read More →
SEBI Simplifies Trading Account Opening Process Making the investor account opening process easier for stock brokers, markets regulator Sebi has allowed them to provide certain standard documents in the electronic format after obtaining the client’s consent. These bulky documents, including Rights and Obligations of stock broker, sub-broker and clients, as also that of beneficial owner … Read More →
Banks can’t use their own FDRs as collateral: SEBI Strengthening its risk management mechanism, markets regulator Sebi today barred banks from using their own Fixed Deposit Receipts (FDRs) as collateral in their function as trading or clearing members of stock exchanges, directly or through associate entities. In a circular to clearing corporations, Sebi asked them … Read More →
Procedure for Conversion of Partnership to Limited Liability Partnership After implementation of Limited Liability Partnership (LLP), more and more Partnership Firms are converting themselves to Limited Liability Partnership (LLP) for obvious reasons of unlimited number of Partners, perpetual succession, limited liability, transferability etc. In this article we will discuss about the step by step procedure … Read More →
The requirements of Directors of an Indian Company In some instances the directors and members of a company can be personally held liable. The following provisions of the Indian Companies Act, 1956 provide that the Members or the Directors/officers of a company will be personally liable if: 1.A company carries on business for more than … Read More →
Deposits in Nidhi Company (1) The fixed deposits shall be accepted for a minimum period of six months and a maximum period of sixty months. (2) Recurring deposits shall be accepted for a minimum period of twelvemonths and a maximum period of sixty months. (3) In case of recurring deposits relating to mortgage loans, the … Read More →
Advantages and Disadvantages of a Limited Company What are the advantages of a Limited Company? A limited company has following advantages: Members’ (the directors and shareholders) financial liability is limited to the amount of money they have paid for shares. The management structure is clearly defined, which makes it easy to appoint, retire or remove … Read More →
What are the Different Types of Taxes Taxes may be categorized into different as their nature as direct taxes, indirect taxes, progressive taxes, regressive taxes etc. Direct Tax A direct tax is the one, which is paid by the person or entity on whom it is legally imposed. It is collected from the persons or … Read More →
Co-ops are not deposit taking set-ups: NAFCUB In a letter written to the Finance Ministry and signed by Chief executive of NAFCUB, Subhas Gupta the apex body of urban cooperative banks has strongly condemned the efforts to choke credit cooperatives in the country. In a mail sent to Ministry well within the stipulated time NAFCUB … Read More →
Why RBI governors need a longer tenure: The outgoing governor of the Reserve Bank of India (RBI), Raghuram Rajan, recently told a parliamentary committee that a three-year term for the central bank chief is not sufficient. As India is moving to a new rules-based monetary policy framework, it is perhaps also time to put an … Read More →