How to Open Different Types of Bank Accounts in India (Updated Guide)
Opening a bank account in India requires following specific rules and submitting valid documents. The procedure and documentation vary depending on whether the applicant is an individual, company, society, cooperative, or institution. This article explains the step-by-step requirements and includes easy compliance checklists for each category of account holder. 1. Opening Current Accounts for Clubs,…
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Special and Extraordinary Leave Provisions for Bank Employees
Leave entitlements in banks are designed to accommodate both professional and personal needs of employees, while ensuring continuity of service and compliance with HR policies. Among these, Special Leave* and Extraordinary Leave (EOL are two important categories offering flexibility under specific circumstances. 1. Special Leave Special leave may be granted to bank employees for specific…
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Foreign Currency Accounts for Exporters: FEMA 2025 Update
Indian exporters are now permitted to open and maintain Foreign Currency Accounts (FCAs) outside India, including in IFSC Banking Units, for receipt of full export value and advance remittances. The Seventh Amendment to the 2015 Regulations, issued in October 2025, clarifies repatriation timelines and defines the permissible use of funds, thereby enhancing flexibility and efficiency…
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Point of Sale (POS) Systems and Card Payment Mechanisms in India
Introduction The increasing adoption of digital payment systems has significantly transformed the retail and service sectors in India. Among various electronic payment modes, **card-based transactions**—through debit cards, credit cards, and smart cards—have become particularly widespread. These payment methods are now accepted by a broad range of establishments including railways, airlines, malls, hotels, and retail outlets.…
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Remittance of Salary Outside India — FEMA, LRS and Tax Compliance Guide for 2025
Remitting salary from India to an overseas account is permissible, but must comply with FEMA, RBI’s Liberalised Remittance Scheme (LRS), bank KYC/purpose documentation, and income-tax TCS rules that apply to outward remittances depending on purpose and threshold limits. Resident individuals can generally use LRS up to USD 250,000 per financial year for permitted current account…
International Flight Baggage Rules
International flight baggage rules vary by airline, but most follow similar standards for both checked and cabin baggage. Understanding these limits helps travellers avoid last-minute surprises at the airport. Checked Baggage• Weight and Size: The standard limit for a single checked bag is usually 23 kg (50 lbs), with total dimensions (length + width +…
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