Bank depositors must know these DICGC claim settlement rules
The depositors of all Banks including branches of foreign banks functioning in India, local area banks and regional rural banks, and all State, Central, and Primary cooperative banks,(also called urban cooperative banks) are protected under the deposit insurance scheme of DICGC. The DICGC insures principal and interest up to a maximum amount of five lakhs.…
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Forex arbitrage and Interest arbitrage explained
When an entity taking advantage of two or more markets of a price difference goes for simultaneous purchase and sale of a financial instrument on different markets. This is called Arbitrage. The trader involved in arbitrage makes a profit from the difference in prices at different markets. In our previous article ‘WHY ARBITRAGE FUNDS RANK…
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Why arbitrage funds rank high when it comes to safety?
Who can assure you of the guaranteed return on your investment in the equity market? Undisputable, no expert investor in the equity market can guarantee that you will make a profit from every transaction you enter into. Therefore, those investors who do not want to take the risk go for investing in arbitrage funds which…
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‘AIS for taxpayers’ app launched for all your tax related needs
The AIS app is a free mobile application, launched by the income tax department and is meant to provide a comprehensive view of the Annual Information Statement (AIS). It offers a collection of information about a taxpayer. The information provided by the ASI includes interest, dividend, mutual fund transactions, securities transactions, foreign remittance information, and…
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Meaning of Banker’s lien, negative and other types of liens explained.
Originally posted on July 22, 2014, and updated on 15, March 2023 Generally speaking, a lien (positive lien) is merely a right of a person to retain a property that is in his possession but belongs to another person till such time the debt or other obligation (for which such lien is conferred) is discharged.…
Opening and operating bank accounts of mentally ill, lunatic and insolvent persons
Dealing with accounts of mentally ill or lunatic or insolvent persons remains a delicate job for bankers. Whenever bankers learn that one of their customers is incapable of operating the account due to mental incapacity the operation of such a customer’s account shall be immediately suspended. While dealing with such accounts, bankers need be to…
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