Author Archive
Aadhaar Seeding – NPCI Clarification on Explicit Consent of Customer
Aadhaar linking with bank accounts and Aadhaar seeding Aadhaar seeding is the process of including the Aadhaar number in the database of service providers to enable transfer of money, subsidy amount or any other government benefit to
Legal Entity Identifier (LEI)- Corporate Borrowers and OTC Participants
Reserve Bank of India(RBI) has instructed banks to ensure that all their large borrower entities obtain the Legal Entity Identifier in a phased manner. According to the directive all corporate borrowers enjoying fund based and non-fund based
Legal Entity Identifier (LEI)
Legal Entity Identifier is a global standard to identify distinct legal entities that engage in financial transactions. What are the features of Legal Entity Identifier (LEI)? Legal Entity Identifier is a key measure to improve the quality
Chip Embedded Debit and Credit Cards (EMV Chip Cards)
Debit cards and credit cards have revolutionized the banking and payment industry. The volume of financial transactions settled through cards has overtaken payments through cheques and currency in many countries. Along with increase in the volume of
Rates of Income Tax – Financial Year 2017-18 (Assessment Year 2018-19)
Rules of Income Tax Act are subjected to periodical revisions. Accordingly, the rates of income tax also undergo periodical changes. Different tax rates have been stipulated for various categories of taxpayers and for different sources of income.
RXIL-Receivable Exchange of India Limited
Receivable Exchange of India Limited (RXIL) is the first Trade Receivables Discounting System (TReDS) that became operational in India. Receivable Exchange of India Limited began its operation on January 9, 2017. TReDS is an automated system driven
TReDS-Trade Receivables Discounting System
Trade Receivables Discounting System(TReDS) is the first attempt in India to introduce automated system driven factoring service for the MSMEs. In Trade Receivables Discounting Systems, factoring service can be availed of by MSMEs without recourse. What is
Filling up of a blank cheque need not be material alteration
Reference Order by the High Court of Gujrat in the case of Nikhil P. Gandhi vs. State of Gujarat – CDJ 2016 GHC 071 Back Ground: The applicant was an ex- Managing Director of a company. The
Savings Bank (SB) account interest rate cut: More Banks reduce rate
Savings Bank interest rate cut initiated by State Bank of India (SBI) has prompted other banks too to take similar step. Taking a cue from the announcement by SBI, four other major banks have announced reduction in
Pradhan Mantri Suraksha Bima Yojna (PMSBY) : A to Z
Pradhan Mantri Suraksha Bima Yojna (PMSBY) scheme was launched by Prime Minister on May 9, 2015 as part of improving social security scheme. Another scheme Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY) was also launched along with