New Feature of GIFT CITY Account – RBI allows resident Indians to open foreign currency accounts in Gift City The recent liberalization by the Reserve Bank of India now allows resident Indians to open foreign currency accounts in Gift City, located in the International Financial Services Centres, under the Liberalized Remittances Scheme. This expansion permits …
Financial Action Task Force adopts Mutual Evaluation Report of India India’s success in Mutual Evaluation conducted by the FATF is indeed significant. The FATF (Financial Action Task Force) is in charge of global efforts to combat money laundering, terrorism, and proliferation financing. India’s placement in the ‘regular follow-up category’ in the Financial Action Task Force …
ROUTES TO ISSUE ESOP (Employee stock ownership plan) Under Companies Act, 2013, a company can issue ESOP to its employees through two modes, namely – Direct Route and Trust Route: 1. DIRECT ROUTE – Under direct route, the company directly grants the options to the employees. At the time of exercise, fresh equity shares are allotted to …
Overview on Setting up a Fintech Company in India The Fintech Company In India : Fintech businesses operating in India are subject to various laws and regulations that govern their operations. Under the Companies Act 2013, fintech businesses are required to register and comply with all applicable laws and regulations like any other business in …
MSMEs may Apply for a Business Loan Access to Business Loans is a vital component of any successful business. However, MSMEs may face some difficulty in securing the funding they need in time. But small businesses can apply for an Micro small and medium-sized enterprises Business Loan to help them reach their goals. This post …
Complete Understanding on collapse of Yes Bank BRIEF INTRODUCTION YES Bank has joined the growing list of financial institutions like IL&FS, DHFL, PMC bank that have come under the cloud for serious non-governance/compliance issues. a continual decline within the asset quality of 1 of the foremost popular retail banks of recent times, prompted RBI to come up with a series of measures to keep up stability within the financial sector. PROPOSED REVIVAL PLAN …
MAIN ASPECTS OF PERSONAL FINANCE BRIEF INTRODUCTION One of the foremost reasons we fail to secure ourselves financially is because we are unaware of the things that ought to be done for it. We do what we feel is right thing to do but which may not always be sufficient. Therefore, it’s crucial to get the meaning and knowledge of the key components that one must concentrate on while creating a road map …
What is Customer effect of PSU Bank merger INTRODUCTION If customers have an account in one amongst the merging bank accounts, they will expect these changes post-merger: Change In Account Details The consolidation of banks means the customers will get a replacement account number, customer id, and IFSC codes. for example, if the customers have an account in Andhra Bank and Corporation bank, the 2 bank accounts will merge …
FUNDING MANTRA: DOCUMENTATION FOR A STARTUP BEFORE AND AFTER INVESTMENT Brilliant company ideas provide value to society in this era of startups. The early bird gets the worm, as the saying goes. Comparing millennial classics in the food tech field, such as Swiggy and Zomato food delivery, had a significant impact. The ability to conceive …
NOTE ON AMOUNT PAYABLE UNDER GRATUITY OBLIGATION TO AN EMPLOYEE We highlight the need for provisioning the obligation under Gratuity benefits payable to employees. This obligation is to be shown in the Financial Statements of the enterprises. Whilst this obligation will depend upon several factors, it will also be dependent on the amount payable under the …