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Current-Account
Finance, RBI

 Current account is non personal bank account. It is a type of deposit bank account commonly used by companies, public enterprises, and businessmen. This account is normally associated with higher number of transactions with the bank. These transactions include deposits, withdrawals and transfer of funds from one account to another of the same bank or another bank. These accounts are also called Demand Deposit Account.You can open a current account in almost all commercial banks. These accounts generally have large transactions on a daily basis hence, there is no limitSEE DETAILS

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Applicability-of-Indian-Accounting-Standards
Finance

About IND ASIndian Accounting Standards (IndAS) can be considered as guiding principle or standards for the International Financial Reporting Standards (IFRS) to ascertain that Indian Companies have same understandability and accessibility globally. For certain companies, the application of specified standards was made mandatory. The objective of IND AS is to ensure that the financial statements and reports of an organization are uniform and to make the same user accessible and transparent. The ASB (Accounting Standards Board), is the regulatory body supervising IND AS. Before the introduction of IND AS, India’sSEE DETAILS

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Accounts-Payable-Management
Finance

 Accounts payable management is one of the important business processes that help in managing payable obligations of the entity in the most effective manner. Accounts payable is the amount that the entity has to pay to its suppliers or vendors on the account of goods and services received. It means that after giving orders of goods and services by the entity, the firm should record a liability in its books of accounts on the basis of the invoice amount before making the payment. So this liability of the entity overSEE DETAILS

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Understanding-the-concept
Finance

 Ever wondered as to how the recording is being done for the transactions that takes place in and around countries having a different system, currency, and economic status. In this article, we will discuss such recording. MeaningThe balance of payments or BOP is a statement or summary of all transactions that take place between entities of one country with the rest of the world over a specified period.The transactions specified above consists of import, export of goods or services or both, capital, transfer payments, i.e., remittances made by the resident of a country fromSEE DETAILS

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Know How to Check Your KYC Status Online

KYC means “know your customer” it is a process in which customers identity is checked by the business entity in case both have taken the decision to start a business with each other. Many entities such as  Banks, payment transaction companies or any other financial institutions have to complete the KYC process under the guidelines given by the RBI before providing any kind of services to its customers. KYC objective is to prevent illegal activities such as corruption, money laundering or bribery etc. It is very beneficial for the governmentSEE DETAILS

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Start Making Your Investment in Mutual Funds (SIP)

In India, the investing mindset is still at its nascent stage. People save in the mud-made “gullak” and then in their saving accounts and lately in fixed deposit schemes of banks. The investment in the stock market and financial market as a whole is very limited and if compared to developed economies the retail investment is also too low. This is because of the fear of losing the hard-earned money as the risk is considered to be too high. However, with mutual funds, this fear can be put aside andSEE DETAILS

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TransUnion-CIBIL---Know-Your-credit-score-better
Finance

Whether you are in business or into salaried employment, if you are thinking about getting a loan to finance your dream home, car or higher studies, one question will come across your way and that is what is your CIBIL score? Now, often people think the term is CIBIL SCORE, however, the actual term is CREDIT SCORE and CIBIL is an organization which is into credit reporting and risk information providing company now referred to as TransUnion CIBIL. So, whether you call it a CIBIL score or a Credit score,SEE DETAILS

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Debt-Funds
Finance

Debt fundsDebt, according to the Oxford Dictionary, means a sum of money that is owed or due. Debt instruments are those financial tools through which an entity can raise funds for its use. Companies borrow money from investors by issuing various types of debt instruments. Against each instrument, a fixed rate of interest is promised. For the company issuing the debt instrument the interest rate is the cost incurred in raising funds and for the investor buying the debt instruments, the rate is a return which is available on theSEE DETAILS

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Mutual-Fund-And-Its-Different-Types-In-India
Finance

Mutual funds and its different typesMutual fund investments are one of the best investment avenues in today’s time. They let you invest as per your risk profile, diversify your investments into different types of assets and give you the best possible returns. Moreover, if you choose tax-saving mutual fund schemes, you can also save taxes on the money that you invest. One of the major factors which make mutual fund investments one of the best is the fact that the fund comes in multiple variants. There are different types ofSEE DETAILS

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Statutory-liquidity-ratio-(SLR)
Finance, RBI, SLR

RBI uses many monetary policies for controlling and stabilizing the economy and one among them is SLR. The primary goal of the RBI is to make sure that prices of commodities are maintained at an optimum level and to administer the supply and demand of money flow into the economy. It uses instruments like credit ceiling, statutory liquidity ratio, cash reserve ratio, bank rate policy, open market operations, credit authorization scheme, repo rate, reverse repo rate, moral suasion, etc. Each of these instruments plays a significant role in operating theSEE DETAILS

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