Bank Holidays 2025: Himachal Pradesh
The Government of Himachal Pradesh order No.GAD-A (F)10-7/2023 dated 18.10.2024 declared the following days as Gazetted holidays for the year 2025 Sr.No Date Day Occasion/Festival Date 1 25.01.2025 Saturday STATEHOOD DAY 2 26.01.2025 Sunday REPUBLIC DAY 3 12.02.2025 Wednesday GURU RAVIDAS JAYANTI 4 26.02.2025 Wednesday MAHASHIVARATRI 5 14.03.2025 Friday HOLI 6 31.03.2025 Monday ID-UL-FITR /RAMZAN…
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Explained: Functions Performed by the Back Office
The back office in an organisation exists to finalise the transactions conducted by the front office. This includes confirming transactions and settlement instructions with the back office of the counterparty. The back office is essential for maintaining the integrity of the financial system and ensuring the accurate processing of customer transactions. The back office is…
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Accounting Systems of Different Banks Illustration
Banks in different countries use different accounting principles and practices due to the legal requirements of their home country. These legal requirements are based on cultural attitudes towards business, and the stage of development of their economies resulting in a diversity of accounting standards and regulations, which affects the preparation and presentation of financial statements.…
Read article Peculiar and significant features of accounting system in banks
The general structure of the accounting system and financial statements for banks isn’t that much different from a regular business. However, there are significant differences in the sub-classification of accounts. Banks need to deal with various complex issues like Technological disruptions, Cybersecurity threats, Regulatory compliance, Talent management, Geopolitical and economic uncertainties, etc. Therefore, such issues…
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Explained: Accounting Entries to be passed for bills of exchange transactions
Accounting for bills of exchange starts when the drawer draws a bill and the drawee accepts it. The drawer receives back the bill after the drawee accepts the bill and returns it to the drawer. The drawer becomes the holder of the bill accepted by the drawee. Once the drawer is the holder of the…
Bank Holidays for 2025: West Bengal
West Bengal Government Holiday List 2025: The Government of West Bengal published a Holiday List under the NI Act for 2025. On 22nd Nov 2024, the Finance Department of West Bengal published a notification stating the list of holidays for the year 2025. The order 712-F(P2) dated Howrah, the 22nd November 2024 describes the details…
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