GENERAL BANKING Archive
National Automated Clearing House (NACH) & Electronic Clearance Service (ECS)
National Automated Clearing House (NACH) is a web based solution implemented by National Payments Corporation of India (NPCI) for addressing recurring, interbank, high volume electronic transactions. It is an improved and much efficient version of Electronic Clearance
28 Apr 20
CategoryBanking Awareness, Digital Banking Products, Everything About
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Immediate Payment Service (IMPS)
Immediate Payment Service (IMPS) is a robust and real time payment service that has transformed the payments and settlements systems in India. The facility was launched by the National Payments Corporation of India (NPCI) on 22nd November,
23 Apr 20
CategoryBanking Awareness, Digital Banking Products, Everything About
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Digital Channel Enablers for Payments and Settlements
Digital channel enablers worked miracles in India and succeeded in making digital banking transactions the first choice for payments and settlements. Competition among banks to delight customers through better banking experience popularised the digital channels and digital
Digital Channels for Payments & Settlements
Digital channels and Digital banking have transformed banking and investments across the globe. Indian banking system too has embraced digital channels for payments and settlements. In fact digital revolution has taken the country by storm. Like in
LTRO – Long Term Repo Operations by RBI
LTRO, Long-term repo operations, is a new liquidity tool announced by the Reserve Bank of India to stimulate the Indian economy. RBI, the central Bank of India, announced the measures on 6th February, 2020. LTROs are effectively
TDS on Interest Paid on Deposits- FY 2019-20 (AY 2020-21)
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
Tax Deducted at Source – Consequences of failures
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
Title Deed and EM with Laminated Title Deed
Title deed is a deed constituting the evidence of a person’s legal ownership of an asset or property. Deed represents an instrument containing details of legal transfer, bargain or contract. The term title deed is normally used
NRI, PIO, OCI,OCB, FI, FDI and FPI – Definitions
An investment advisor or a inexperienced NRI often faces difficulty while advising and taking investment decisions. NRI, PIO, OCI, OCB, FI, FDI and FPI are certain terms that often create confusion in the minds of investors and
Stamp Duty Goes Up For EM Letters in Kerala- Bank Loans Become Costly
EM letters (Equitable Mortgage Letters) started attracting stamp duty in the state of Kerala from April 1, 2019 making home loans and other loans secured by immovable property costlier. Stamp duty associated with home loans and other