Banking Awareness Archive

TDS on Interest Paid on Deposits- FY 2019-20 (AY 2020-21)

TDS on interest paid on deposits, TDS, DTAA, 15 g, 15 H, recurring deposit, term deposit, fixed deposit, FY 2019-20, AY 2020-21, resident, non–residents, NRI,
The rates of TDS on interest paid on deposits for residents and non–residents (NRIs) for  FY 2019-20 (AY 2020-21) are covered in the article. TDS is applicable on interest on recurring and term deposits (fixed deposits). The
26 Jun 19 Author CategoryBanking Awareness, Personal Income Tax No Comment Read More

Tax Deducted at Source – Consequences of failures

Tax Deducted at Source, TDS, Section 201(1A) , consequences, PAN, delay, wrong information, section 40 (a) (ia),
Tax Deducted at Source (TDS) is a concept employed for collection of tax. It was introduced with the aim to collect tax from the very source of income. Hence non-collection / short collection or delay in remittance
25 Jun 19 Author CategoryBanking Awareness, Personal Income Tax No Comment Read More

Repo Rate (Policy Rate) and Reverse Repo Rate

Repo rate, policy rate, reverse repo rate, monetary policy, interest rate transmission, PLR, MCLR, External bench marking, lending rate, inflation, market rate
Repo Rate and Reverse Repo Rate are the two most important short term quantitative credit control techniques adopted by the Reserve Bank of India, as the central bank of India. Quantitative credit controls are adopted by RBI
5 Apr 19 Author CategoryBanking Awareness, Everything About No Comment Read More

Interest Rate Linked to External Benchmark – SBI Decision & Its Impacts  

Interest rate, SBI, external benchmark, Repo Rate, Savings Bank account, Overdarft, Cash Credit, Rupees one lakh, decision, impact, Monetary policy, resourse, fixed deposit
The proposal to link interest rates of retail loans and loans to SME sector was announced by the Reserve Bank of India (RBI) during the monetary policy in December 2018. The guidelines on this methodology are yet
28 Mar 19 Author CategoryBanking Awareness, Quick Reference No Comment Read More

 Cyber Risks, Cyber Insurance And Banks

Cyber insurance, cyber-attack, Cyber risk, technology boom, digital banking, SWIFT, GDPR, privacy, analytics, artificial intelligence, manipulation, data , information, asset
Cyber risk and cyber insurance are byproducts of advancement in technology and digital banking. In recent times, dependency on technology has gone up and as a result data and information have become the most valuable assets. Unscrupulous
13 Mar 19 Author CategoryBanking Awareness, Digital Banking Awareness, Insurance No Comment Read More

Banking Sector- True Corporate Governance is the Only Way Out

Corporate governance, valuation, market, premium, goal, gain, board, ethics, principle, NSE,
A recent research paper by the National Stock Exchange (NSE) on Corporate Governance and market valuation concludes that better corporate governance practices elicit premium valuation. This article is the third one in the Corporate Governance and real
1 Feb 19 Author CategoryBanking Awareness, Banking News No Comment Read More

Do Banks Offer Free ATM Transactions?

Free ATM Transaction, Metro location, non-metro, financial, non-financial, on-us, off-us, cost, atm centre, security, RMS,
ATMs have become the face of digital banking in India. The Reserve bank of India (RBI) has stipulated minimum number of free ATM transactions to be provided by banks to their savings bank customers. This has been
17 Jan 19 Author CategoryBanking Awareness, Banking Products & Schemes, Digital Banking Products No Comment Read More

Automated Teller Machine –Services and Precautions

Automated Teller Machines, PIN, ATM, BLA, WLS, Service, transaction, PIN , EMV Chip, magnetic stripe card, Personal Identification Number, operations
Automated Teller Machines were the first step in the digital journey of banking system in India. In a short span of time, ATMS became very popular. As of now, more than 2,40,000 Automated Teller Machines are deployed
16 Jan 19 Author CategoryBanking Awareness, Banking Products & Schemes, Digital Banking Products No Comment Read More

Three Pillars Of Basel Accord And Global Financial Markets

Basel, Accord, Pillar 1, Pillar ii, Pillar III, harmonization, credit risk, market risk, operational risk, global markets, regulations,
Dependents among nations for various purposes have a long history though integration of global markets to the present position is of recent origin.  As of now, the decision taken by one country has the potential to alter
28 Dec 18 Author CategoryBanking Awareness, Quick Reference No Comment Read More

Real Time Gross Settlement (RTGS) & NEFT

RTGS, Real Time Gross Settlement, NEFT, Positive confirmation, National Electronic Funds Transfer, advantages, digital banking
RTGS stands for Real Time Gross Settlement. It is a system for fund transfer where the settlements are taking place on real-time in a continuous manner. Transactions are settled individually on a transaction by transaction basis. 'Real
20 Dec 18 Author CategoryBanking Awareness, Digital Banking Products, Everything About No Comment Read More