The following holidays declared under NI Act 1881 by the Government of Madhya Pradesh are applicable exclusively to the banks located within the State of Madhya Pradesh administration. List of Holidays Sr.No Date Day Occasion/Festival Date 1 26.01.2019 Saturday REPUBLIC DAY 2 04.03.2019 Monday MAHASHIVARATRI 3 21.03.2019 Thursday HOLI 4 01.04.2019 Monday Banks’ Annual Closing…
The turnover ratios or inter-statement ratios represent the quantity of any assets or liabilities used by a business entity to generate revenue through sales. The concept of turnover ratio is useful in determining the efficiency with which a business utilizes its assets. The following ratios are called Turnover Ratios or inter-Statement Ratios. Debtors’ velocity ratio…
Profitability ratios help a business entity as well as the lenders/investors to evaluate the ability to generate income as compared to its expenses and other cost associated with generation of income during a particular period. Profitability Ratios also help the managements in making business decision in respect of expansion or diversification of the business. As…
List of Bank Holidays for the year 2019: Kerala State The following holidays declared under NI Act 1881 by the Government of Kerala are applicable exclusively to the banks located within the State of Kerala administration. Sr.No Date Day Occasion/Festival Date 1 26 Jan 2019 Saturday Republic Day 2 4 March 2019 Monday Maha Shivarathri…
Directorate of Income taxes (systems) New Delhi vide its notification no 06/2018 dated December 6, 2018 advised TDS detectors and Banks that they should not deduct tax at source in the case of Senior Citizens where the amount of such income or, the aggregate of the amounts of such income credited or paid during the…
The regulatory capital framework placed by RBI under Pillar 1 has increased importance on risk management and banks are required to employ suitable procedures and systems in order to ensure their capital adequacy. Such procedures employed by the banks are referred collectively as the Internal Capital Adequacy Assessment Process (ICAAP). The purpose of the Internal…
List of Holidays for Central Government Offices for the year 2019 Sr.No Date Day Occasion/Festival Date 1 January 26 Saturday REPUBLIC DAY 2 April 17 Wednesday MAHAVEER JAYANTI 3 April 19 Friday GOOD FRIDAY 4 May 18 Saturday BUDDHA PURNIMA 5 June 05 Wednesday RAMZAN (IDUL FITR) 6 August 12 Monday ID-UZ-ZUHA (BAKRID) 7 August…
The draft on guidelines on Loan System for Delivery of Bank Credit released by RBI on December 6, 2018 states that the new guidelines on ‘Loan System for Delivery of Bank Credit’ for borrowers having aggregate fund-based working capital limit of ₹1500 million and above from the banking system will be effective from April 1,…
The Negotiable Instruments (Amendment) Act, 2018 (Amendment) received the assent of the President on 2nd August 2018. Sec 143 A & 148 which have been now inserted in the NI acts is in addition to Section 138 of the NI acts which deals in cheque bounce cases. Equipped with the newly inserted sections to NI…
A negotiable certificate of deposit (NCD) is a certificate of deposit issued by the banks and it is freely negotiable unlike non-negotiable CDs which cannot be transferred, sold, bought, or exchanged. The Certificates of Deposit (CDs) were introduced in India in 1989.Minimum amount of a CD should be Rs.1 lakh. In India, CDs in physical…