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Finance : This guide explains why senior travellers should review travel insurance coverage, organise medical records, and plan ahead before...
Finance : The article explains how local Indian phone numbers enhance credibility and accessibility for international businesses. It highlig...
Finance : The article explains how borrowing within your affordability and understanding total loan costs can make loan management easier. I...
Finance : The article examines how ATMs are facing cash shortages even though currency circulation is at an all-time high. It argues that ba...
Finance : mployers are increasingly migrating retirement savings from superannuation trusts to NPS due to lower costs, greater flexibility, ...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Finance : The Ministry of Finance has introduced a unified portal to help individuals search for unclaimed bank deposits, insurance claims, ...
Finance : The IFSCA clarified that retrocession and retention requirements apply to the entire gross reinsurance premium of IFSC Insurance O...
Finance : The authority observed that except life insurance, other insurance segments under IFSCA regulations align with the statutory defin...
Finance : The Ministry of Finance clarified that claims regarding monetisation of temple gold holdings or issuance of gold bonds to temples ...
Finance : The Supreme Court ruled that vicarious liability under the NI Act cannot arise solely from holding an office in a society or compa...
Finance : The Supreme Court refused relief to borrowers who defaulted from the very first instalment after availing an ₹8.09 crore loan. T...
Finance : The Supreme Court upheld a Will executed in favour of the testator’s sister despite objections from his wife and children. The C...
Finance : The Supreme Court held that insolvency proceedings under the IBC cannot be invoked merely to recover disputed dues arising from co...
Finance : The issue was whether indemnity obligations arise only after final appellate confirmation. The Supreme Court held that liability a...
Finance : IFSCA clarified that a common brand name by itself is sufficient to establish a Group Entity relationship under the ship leasing f...
Finance : IFSCA has consolidated multiple regulations and circulars into a single Master Circular for Stock Exchanges and Clearing Corporati...
Finance : IFSCA has introduced a standardized ACAR and ACAC reporting framework for Capital Market Intermediaries in IFSCs. The circular aim...
Finance : IFSCA has warned regulated entities that advanced AI models can accelerate cyberattacks by rapidly identifying and exploiting vuln...
Finance : The International Financial Services Centres Authority clarified that existing ASPs and TechFin entities continuing operations und...
The government may rectify the present system of selective cost audit that covers only a few companies while many others, mainly those in the private sector, are left out, according to a senior official in the Ministry of Corporate Affairs (MCA). For instance, in the petroleum sector, only the public sector companies are covered, leaving […]
National Advisory Committee on Accounting Standards (NACAS) may have favoured suspension of mark-to-market accounting norms on foreign exchange transactions for corporate sector for two years, but Institute of Chartered Accountants of India (ICAI) is in no mood to suspend the accounting standards (AS) 11 provision. ICAI president Uttam Prakash said here that he was not […]
EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2008 CIRCULAR NO. 1/ 2009, DATED 27th MAR, 2009 46. Discontinuation of Banking Cash Transaction Tax 46.1 The Banking Cash Transaction Tax (BCTT) was introduced by the Finance Act, 2005. It provides for a levy at the rate of 0.1 per cent (10 basis points) on […]
Members may note that mere receipt of an application for restructuring does not by itself makes the advance(s) referred to above qualified to retain its classification as Standard Asset(s).
Institute released two CDs on ‘Bank Branch Audit – An Overview’ recently and made content of these CDs available free of cost to the members associated with Bank Branch Audit. Accordingly they created http links for the said content. Please download the content from the following links: http://www.meficai.org/BankAudit/CD1.zip http://www.meficai.org/BankAudit/CD2.zip After download, you will require WINRAR […]
In a major relief for India Inc, the National Advisory Committee on Accounting Standard (NACAS), a government-appointed body, has postponed the implementation of Accounting Standard 11 (AS 11) to 2011. This accounting standard deals with mark-to-market provisioning in corporate profit and loss accounts for foreign exchange-related gains and losses. The NACAS decision means domestic firms […]
This is so shocking…. ….If black money deposits was an Olympics event…. India would have won a gold medal hands down. The second best Russia has 4 times lesser deposit. U.S. is not even there in the counting in top five! India has more money in Swiss banks than all the other countries combined! Recently, […]
We can’t afford our kids to be mediocre at a time when they’re competing against kids in China and kids in India, US President Barack Obama has said. Interacting with local residents at California’s Costa Mesa town hall Wednesday, Obama said, It can’t just be a single high-stakes standardized test — but we do need to […]
The Delhi Consumer Commission has directed the HDFC Bank to pay Rs 35,000 as compensation to an export house for forcibly seizing a financed car on its failure to pay two instalments.”Whenever any bank resorts to such a method, it is liable to compensate the consumer as to the mental agony, harassment and humiliation suffered by him and return the post-dated cheques,” the Commission headed by Justice J D Kapoor said.
The Madras high court bench in Madurai has ruled that educational loans being provided by the banks are meant only for poor and meritorious students who can not not pursue their studies due to poverty. Dismissing a writ petition, filed by Harish Babu of Aruppukottai on Thursday, Justice S Manikumar said students with means to […]
