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 →
RBI’s vision document for 2018: Imagine a world when you can just swipe a card or touch a button on your mobile phone to buy a bus ticket or to pay toll at a toll booth or to make a payment at a merchant counter. If the Reserve Bank of India’s Vision Document on Payments … Read More →
How To Get Government Approvals for Joint Ventures All the joint ventures in India require governmental approvals, if a foreign partner or an NRI or PIO partner is involved. The approval can be obtained from either from RBI or FIPB. In case, a joint venture is covered under automatic route, then the approval of Reserve … Read More →
Quick Look at the Brokerage Charges as per SEBI Regulations: As per SEBI Regulations, every stock-broker, on the basis of his total turnover, is required to pay annual turnover charges, which are to be collected by the stock exchanges. In order to share the benefits of efficiency, NSE has been reducing the transaction charges over … Read More →
Types of Financial Needs of a Business Financial Needs of a Business may be Classified into two on the basis of the Extent of Permanence: Fixed Capital: The funds required to purchase fixed or durable assets are known as fixed capital or long term capital. The fixed or durable assets include land, buildings, machinery, equipment … Read More →
Opening and Closing of Branches of Nidhi (Mutual Benefit Society) : A Nidhi may open branches if: (1) Only if it has earned net profits after tax continuously during the preceding three financial years. (2) Subject to the provisions contained in sub-rule (1), a Nidhi may open upto three branches within the district. (3) If … Read More →