Cash receipts Nature of duties of a person who is expected to have committed fraud. Examine the line of responsibility among the various members of the staff. Income received from different sources should be scrutinized. Carbon copies of receipts marked…
The objective is to prevent fraud at entry-level. It enables the Bank to understand the customers and their financial dealings to manage their risks prudently. The KYC policy includes: Customer acceptance policy. Customer Identification procedures. Monitoring of Transactions and Risk…
While checking various control procedures in the bank there are certain points you need to take into consideration. So in this article let’s see the checking of controls in various aspects. General control The staff and officers of the bank…
There was no institutional credit arrangement for Agriculture and Rural credit in India till the 1970s. Reserve Bank of India and Agricultural Refinance and Development Corporation (‘ARDC’) looked after this need. Therefore, the Reserve Bank of India (RBI) formed a…
Meaning of Deposit As per section 2(31) of the Companies Act,2013 ‘deposit’ includes any receipt of money by way of deposit or loan or in any other form by a company. The procedure of Acceptance of deposit As per section…
Saving schemes are launched by the Government of India, Banks, and financial institutions. Saving schemes help investors to achieve their financial goals over a period of time. Governments or banks decide the rate of interest in these schemes. An investor…
National Pension Scheme (NPS) is an initiative taken by the central government. Is it an easily accessible, low cost, tax-efficient, flexible, and portable retirement savings account. These schemes encourage you to invest regularly for your retirement account at an early…
INCOME TAX The due date of filing Income Tax Return for Financial Year 2018-19 has been extended from 31/03/2020 to 30/6/2020 The due date of Vivad se Vishwas scheme which is introduced to resolve pending tax disputes has been extended…