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Monthly Archives: July 2021

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Interest Equalisation Scheme for Export Credit

Foreign ExchangeBy Surendra NaikJuly 2, 2021

The Interest Equalisation Scheme for export credit is available to all MSME exporters under 416 tariff lines under Indian Trade Clarification (ITC)- Harmonized System (HS) Codes of 4 digits and exports made by MSMEs across all ITC(HS) codes. It means all MSME exporters including merchant exporters are eligible for an Interest Equalisation rate from 3%…

Who is your close relative as per companies act?

Legal and Regulatory aspects of bankingBy Surendra NaikJuly 1, 2021

Generally speaking, “relative”, with reference to any person, means any one who is related to another. Your family members are also called your relatives.Your immediate family includes your father, mother and siblings. Your extended family includes all of the people in your father and mother’s families. Your sibling is your brother or sister. In the…

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