How are non-fund limits like Letters of Credit, Bank Guarantee, DPG, and APG limits fixed by the banks?

The assessment Letter of Credit, Bank Guarantee (BG), or Letter of Guarantee (LG) limits are fixed by banks based on the annual consumption of raw materials to be purchased against the Letter of Credit or Letter of Guarantee (Bank Guarantee). Ascertain from the customer the requirement of Consumption of Material (CM) per annum, which is to be…

How to study a Profit and Loss Statement?

[This article elucidates methods and techniques used in the  analysis of profit and loss statements, the Format of the operative statement, the meaning of gross profit, operating profit and net profit, depreciation, amortization, etc.] The profit and loss (P&L) statements are one of three financial statements that every public company issues quarterly and annually, along…

RBI directions to Banks: Govt. accounts reporting window of March 31 shall be kept open till 12 noon on April 1

RBI on Tuesday notified that all government transactions done by agency banks for 2022-23 must be accounted for within the same financial year. All agency banks should keep their designated branches open for over the counter transactions related to government transactions upto the normal working hours on March 31, 2023, said RBI. It further said…