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Post by: Arnold Thomas in Compliance
OLTAS Payment Challan Inquiry Online Tax Accounting System, shortly known as OLTAS, was initiated by the Income Tax Department in order to receive and maintain the tax records which are paid through banks through online upload of the challan. Introduction…
Post by: Chris John in Banking
Statutory Liquidity Ratio One of the main functions of the Reserve Bank of India (RBI) is to control the supply of credit as well as the cost of it. The RBI mandates that every bank is required to maintain a specific…
Post by: Chris John in Banking
Non-Banking Financial Companies (NBFC) Non-Banking Financial Company or NBFC is an entity that is incorporated as per the Companies Act of 1956 and 2013. These companies have played an essential role in the financial system in India by bringing in…
Custodial Services Services provided by a bank custodian are usually the settlement, safekeeping and reporting of customers' marketable securities and cash. A custody relationship is contractual, and the services that are performed for a customer differs. Banks render custody services…
Post by: Chris John in Banking
Statutory Audit of Banks Statutory audit of banks can be defined as an audit to ensure that the financial statements and books of account presented to the regulators and the public are fair and accurate. It is an audit that…
Post by: Bennisha in Banking Compliance
Know Your Customer (KYC) Know Your Customer (KYC) is a procedure by which banks can obtain information and details about the identity and address of the customers. This procedure helps to safeguard the banks' services are not misused. The KYC procedure…
Post by: Sinduja Shankar in Banking
UCO Bank Current Account UCO Bank is India’s fast-growing public sector banking company which provides personalised business banking solutions. United Commercial Bank (UCO) Bank is a scheduled commercial bank, and it offers various customised current account banking services and products and…
Post by: Sinduja Shankar in Banking
IDBI Current Account IDBI Bank is ranked among the leading public sector banking companies in India which provides personalized financial and banking solutions. Industrial Development Bank of India (IDBI) offers a vast network of customized current account banking products and…
Post by: Sinduja Shankar in Banking
Canara Bank Current Account - Detailed Guide Canara bank is a leading public sector bank offering a vast network of current account banking products and services to individuals as well as businesses. A current account can be opened by business…