What is window dressing in balance-sheet or in profit and loss account?
Window dressing in accounting is the practice of manipulating financial statements to make a company appear more financially healthy than it actually is. It’s a short-term strategy that companies use to attract investors, consumers, and clients. Let us study here how a balance sheet can be window dressed. Window dressing in balance-sheet: Date of balance sheet…
Read articleJain community is notified as minority community
Ministry of Minority Affairs, Government of India, have notified the Jain Community as a minority community, vide notification No. S.O. 267(E) dated January 27, 2014. This is in addition to five communities already notified as minority communities, viz. Sikhs, Muslims, Christians, Zoroastrians and Buddhists. Accordingly, now onwards Jain community is eligible under credit facilities to…
Read articleRBI issues amendments to Basel 3 norms.
The Reserve Bank of India has allowed banks to issue additional Tier 1 capital instruments, the principal amount of which would absorb losses, either through conversion into common shares or a write-down mechanism that allocates the losses to the instruments, either temporarily or permanently. The limits on admissibility of excess additional Tier 1 and Tier…
Read articleRBI keeps rate unchanged as inflation remains concern
Mumbai, Aug 5 (PTI) Concerned over impact of weak monsoon on food price, Reserve Bank of India (RBI) Tuesday decided to keep the key policy rate unchanged but slashed statutory liquidity ratio (SLR) by 0.5 per cent to unlock about Rs 40,000 crore into the system. The revised SLR w.e.f 05.08.2014 is 22% , other rates…
Read articleInterest rate on housing loans will be slashed.
The Reserve Bank of India (RBI) on 15.07.2014 Tuesday made a major announcement to boost demand for infrastructure and housing. RBI said, banks would not have to maintain cash reserve ratio (CRR) or statutory liquidity ratio (SLR) and will not have to meet priority- sector lending targets for funds raised through bonds for extending credit to…
What is a Point of Sale /POS terminal business?
The debit card/credit card/smart card payments are accepted by railways, airlines, malls, hotels, major shops and business establishments. For accepting payments through cards the merchant establishments need a Point of Sale (POS) terminal. The sale transactions made through POS terminal is called Point of Sale (POS) business. The bank which is in ‘Card Payment Acquiring…
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