Business ethics in Banks
Business ethics is about managing values and conflict resolution. It refers to the moral principles, policies, and values that govern the way companies and individuals engage in business activity. It goes beyond legal requirements to establish a code of conduct that drives employee behavior at all levels and helps build trust between a business and…
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New income tax rules from Sept.2019 that may impact your TDS outgo
Here are a few changes made in income tax rules that came into effect from September 1, 2019 Section 194 N of IT act provides that aggregate cash withdrawal beyond Rs.1 crore thresholds in a year from banks, post offices or cooperative societies will attract TDS at the rate of 2 percent. This new rule…
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Now PAN will be generated automatically using your Aadhar number
With effect from September 1, 2019, Income Tax department would “suo motu” allot a fresh PAN to a person who files I-T Returns (ITR) with only Aadhaar number. The Central Board of Direct Tax (CBDT) notified on August 30, 2019, that a person who furnishes Aadhaar, as he/she does not have PAN, “shall be deemed”…
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Ethical foundation and ethical theories explained
Ethics is defined as a moral philosophy or code of morals based on what is considered right and wrong by a whole society or a person. “Ethics” identifies correct human behaviour according to positive values, such as transparency, loyalty, consistency, suitability, fairness, and opportunity. The ethical foundation is the basis for ethical standards, a system…
Read article Government announces merger of TEN Public sector banks
The government on Friday (August 30, 2019) announced the amalgamation of eight public sectors and making them in to three single entities. As per the announcement, Oriental Bank of Commerce and United Bank of India will merge with Punjab National Bank. Canara Bank and Syndicate Bank will become single entity with the merger. Union Bank…
The conditions for ‘cash withdrawal at Point of Sale (POS)
Today (August 29, 2019)RBI notified to all the Scheduled Commercial Banks including RRBs / Urban Co-operative Banks /State Co-operative Banks / District Central Co-operative Banks /All Authorised Card Networks with regard to Point of Sale transaction. The Banking Regulator said that it has come to their notice that many banks are not following in letter…
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