REFERENCE Archive
Small account becomes the only bank account that can be opened without Aadhaar
Small account is the only bank account that can be opened without producing Aadhaar and PAN Card / Form 60. Even though, Aadhaar and Permanent Account Number (PAN) / Form 60 have been made mandatory for all
Common banking terms associated with Aadhaar
Bank account holders have come across much news about linking Aadhaar with bank accounts in the recent past. All bank account holders were earlier directed to link their accounts with Aadhaar by RBI and central government. Many
Aadhaar is mandatory for all new accounts; small accounts exempted
Aadhaar is now essential for opening of new accounts. RBI has made Aadhar and Permanent Account Number (PAN) / Form 60 mandatory for all new accounts to be opened. However, for opening small accounts these documents are
External Commercial Borrowing (ECB)
External Commercial Borrowing, popularly known as 'ECB', are commercial loans raised by eligible resident entities from recognized non-resident entities confirming to conditions specified by Reserve Bank of India (RBI) from time to time. Borrowers preferring to opt
Trade War
Trade war is a situation that arises when a country increases tariff on the imports from another country and the second country retaliates to the action in the same manner. What is meant by trade war? Suppose
Capital Gain and Capital Asset
Capital Gain is profit arising on transfer of capital asset. This gain is charged to tax under the head “Capital Gains”. Capital gain arises when certain assets like land properties, equity shares, units of mutual fund etc
Prompt Corrective Action (PCA) Framework by RBI
Prompt Corrective Action ( PCA) Framework is a set of policy action guidelines issued by Reserve Bank of India. Prompt Corrective Action framework provides guidelines on actions to be initiated when the financial condition of commercial banks
Tez: Google Payment App
Tez is the Unified Payments Interface (UPI) based digital payment service launched by Google. It was launched o 18 September 20017. Tez means speed in Urdu.To capture a major share of the digital payment market in India,
Sovereign Gold Bond Scheme (SGB Scheme)
Sovereign Gold Bond scheme is an investment scheme announced by Government of India. The scheme is open for subscription from Monday to Wednesday of every week from October 09, 2017. The SGBs are issued for a period
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