Finance : The acronym RTGS stands for Real Time Gross Settlement. RTGS system is a funds transfer mechanism where transfer of money takes pl...
Finance : IFSC – Indian Financial System Code is an 11 digit alphanumeric code. IFSC code is used to detect the bank branch for any partic...
Fema / RBI : High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be ph...
Fema / RBI : Review of Charges for RBI-operated Payment Systems The Reserve Bank levies minimum charges on banks for transactions routed throug...
Fema / RBI : The Reserve Bank plans to upgrade its high-value online fund transfer system RTGS to enable handling of up to 50 lakh transactions...
Fema / RBI : The Reserve Bank of India, or RBI, has told a bunch of top bank executives to push the use of electronic transactions among custom...
Corporate Law : An amount to up to Rs 2 lakh can now be transferred through banks free of cost. The Reserve Bank of India has raised the threshold...
Fema / RBI : High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be ph...
Income Tax : Explore the case of Shantabai Jasraj Lodha challenging additions made by CIT(A) - NFAC regarding a Rs.20 lakhs deposit during demo...
Income Tax : Read the detailed analysis of Fortune Park Hotels Ltd vs. ACIT case where ITAT Delhi allowed deduction of ESOP expenses claimed wi...
Income Tax : ITAT Delhi held that initiation of proceedings under section 147/148 of the Income Tax Act unsustainable as there was on failure o...
Fema / RBI : RBI announced that RTGS will be available round the clock on all days of the year. Accordingly, RTGS 24x7x365 will be launched wit...
Fema / RBI : i. RTGS shall be available for customer and inter-bank transactions round the clock, except for the interval between ‘end-of-day...
Fema / RBI : Under the overall guidance of the Board for Payment and Settlement Systems, the Reserve Bank over the last few years, has been tak...
Fema / RBI : In the Second Quarter Review of Monetary Policy of the Reserve Bank of India for the Year 2010-11, it was announced that Urban Co-...
Fema / RBI : In this connection, we enclose a copy of the circular DPSS. (CO). EPPD. No.863 / 04.03.01 / 2010-11 dated October 14, 2010 issued...
Explore the case of Shantabai Jasraj Lodha challenging additions made by CIT(A) – NFAC regarding a Rs.20 lakhs deposit during demonetization. Analysis reveals discrepancies and remand for further verification.
Read the detailed analysis of Fortune Park Hotels Ltd vs. ACIT case where ITAT Delhi allowed deduction of ESOP expenses claimed within the prescribed time limit.
ITAT Delhi held that initiation of proceedings under section 147/148 of the Income Tax Act unsustainable as there was on failure on the part of the assessee to disclose fully and truly all the material facts.
The acronym RTGS stands for Real Time Gross Settlement. RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a real time and on gross basis. This is the fastest possible money transfer system through the banking channel. Settlement in real time means payment transaction is not subjected to any waiting period. The transactions are settled as soon as they are processed. Gross settlement means the transaction is settled on one to one basis without bunching with any other transaction. Considering that money transfer takes place in the books of the Reserve Bank of India, the payment is taken as final and irrevocable.
IFSC – Indian Financial System Code is an 11 digit alphanumeric code. IFSC code is used to detect the bank branch for any particular bank account. Let us learn about the denotation of each digit in an IFSC code finder. The first four digits in an IFSC code define the name of your bank. The […]
RBI announced that RTGS will be available round the clock on all days of the year. Accordingly, RTGS 24x7x365 will be launched with effect from 00:30 hours on December 14, 2020.
i. RTGS shall be available for customer and inter-bank transactions round the clock, except for the interval between ‘end-of-day’ and ‘start-of-day’ processes, whose timings would be duly broadcasted through the RTGS system.
United Bank of India NEFT / RTGS Utility for generating NEFT/RTGS Form at any time. You can add 2000 beneficiaries to the Form, hence when you need somebody’s Bank details in future,You can easily get it from this Form. Along with NEFT / RTGS form, you can Print respective cheque also. Now you are free […]
Union Bank of India NEFT / RTGS Utility for generating NEFT/RTGS Form at any time. You can add 2000 beneficiaries to the Form, hence when you need somebody’s Bank details in future,You can easily get it from this Form. Along with NEFT / RTGS form, you can Print respective cheque also. Now you are free […]
Karnataka Bank NEFT / RTGS Utility for generating NEFT/RTGS Form at any time. You can add 2000 beneficiaries to the Form, hence when you need sombody’s Bank details in future,You can easily get it from this Form. Along with NEFT / RTGS form, you can Print respective cheque also. Now you are free from missing […]
