Legal audit in banks
In our previous posts we have talked about In our previous posts we talked about various types of audits conducted in banks such as (1) Statutory Audit (2) Long Form Audit Report 3) What is a forensic audit? (4) What is a Legal Audit? (5) Concurrent Audit System in bank. (6) Emergence of Risk-Based Internal Audits in Banks (7) Tax audit, and (8) What is the stock audit? For details,…
Read articleSBBJ, SBH, SBM, SBP and SBT branches to operate as branches of SBI from April 1, 2017
In its press release today RBI notified that all branches of State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT) will function as branches of State Bank of India from April 1, 2017. The order dated…
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E-Commerce explained
Definition of e-commerce: Buying and selling of goods including digital products* and services through electronic channels such as the internet are called e-commerce. *Any products that are stored, delivered, and used in their electronic format are called digital products. These products are shipped electronically to the consumer through the internet. We can identify e-commerce business…
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What is E-Wallet?
E-wallet or digital wallet basically refers to a prepaid virtual wallet used for making online transactions including purchase something at a store, through a computer or a smartphone. An individual by registering his name can create an e-wallet profile with the service provider. The individuals who have registered for e-wallet have to link their multiple…
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Meaning of Normal Transit Period and Notional Due Date
Normal Transit Period (NTP) is commonly misunderstood for the time taken for the goods to reach the destination. It is not so. The term Normal Transit period (NTP) used for the average period normally involved from the date of negotiation/ purchase/ discount of a bill, till the credit of that bill proceeds in the Nostro…
RBI issues Sovereign Gold Bond 2016-17-series IV
The Reserve Bank of India has notified to issue Sovereign Gold Bonds 2016-17 – Series IV. Applications for the bond will be accepted from February 27, 2017, to March 3, 2017. The Bonds will be issued on March 17, 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated…
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