Bank / Bank Audit

Trustee Units Of SBI, IDBI And Axis Under Siege, CCI Starts Investigation

The Competition Commission of India (CCI) is initiating an investigation into the trustee units of State Bank of India (SBI), Axis Bank and IDBI Bank. The investigation is being done following allegations of suspected collusion over fees. This is likely to spark a legal battle in the coming days. As per the rules, debt-raising companies …

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RBI Imposes Fine On Three Co-Operative Banks

RBI Imposes Fine On Three Co-Operative Banks

The Reserve Bank of India has taken action against three co-operative banks for non-compliance with the rules. The banks which have been penalized include Phaltan-based Yashwant Co-Operative Bank Ltd., Kokan Mercantile Co-operative Bank Ltd., Samta Co-operative Development Bank Ltd. According to the statement, RBI has taken action against these banks for non-compliance. It was informed …

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Big News: HDFC Will Merge With HDFC Bank, 41 Percent Stake Will Be Acquired

Big News: HDFC Will Merge With HDFC Bank, 41 Percent Stake Will Be Acquired

Housing Development Finance Corporation (HDFC) is going to be merged with HDFC Bank and its preparations have been completed. It was officially announced on Monday. Chairman Deepak Parekh said that after this transformational merger, HDFC will have 41 per cent stake in the bank. Process to be completed by 2024 HDFC said on April 4 that its …

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Alert: This Big Change is Happening in Punjab National Bank From Today

Alert: This Big Change is Happening in Punjab National Bank From Today

Cheque payment verification will be mandatory It is worth noting that since this rule applicable in PNB, it will be compulsorily verified at the time of issuance of cheque for payment. Without verification the cheque will not be passed under any circumstances. That is, this cheque will be returned without verification. Let us inform that …

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Banking Frauds Of 100 Crores Daily in India: RBI Claims

Banking Frauds Of 100 Crores Daily in India: RBI Claims

The country has lost Rs 100 crore everyday in the last seven years due to bank frauds. However, this loss amount is declining year after year. According to RBI, 83 per cent of banking fraud cases in the country are in just five states. Maharashtra tops it with 50 per cent, while Delhi is in …

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This Big Change To Happen in Axis Bank

This Big Change To Happen in Axis Bank

For customers who have salary or savings account in Axis Bank, new rules are being implemented from April 1, 2022. The bank has increased the limit of minimum balance in savings account from 10 thousand to 12 thousand rupees. According to the information given on the website of AXIS Bank, the bank has also changed …

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RBI Released Format Of Geo Tagging Of PoS Machines

RBI Released Format Of Geo Tagging Of PoS Machines

The Reserve Bank of India (RBI) on Friday released the format for geo-tagging of payment system touch points to co-monitor the availability of payment accepting infrastructure. According to the news of PTI, Geo-tagging refers to marking the geographical location (latitude and longitude) of the payment touch point on the part of the shopkeeper to receive …

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Bank Alert: Banks Will Be Closed For 4 Consecutive Days

Bank Alert: Banks Will Be Closed For 4 Consecutive Days

Banks across the country will remain closed for the next four days from Saturday due to the strike of various employees union in protest against other government decisions including privatization of banks. Various employees’ unions have called for a two-day strike on March 28-29. At the same time, the banks will be closed on 26 …

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Application Form For Empanelment of Concurrent Auditors/Revenue Auditors (Chartered Accountant)

Application Form For Empanelment of Concurrent Auditors/Revenue Auditors(Chartered Accountant) NOTIFICATION FOR CHARTERED ACCOUNTANT BANK OF MAHARASHTRA invites applications from practicing firms of Chartered Accountants within India, in the prescribed format, who are willing to have their firms empaneled as Concurrent Auditors/Revenue Auditors of the Bank for specified branches for FY 2022-23. Following are the terms and …

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Bank Holidays: Settle The Work Related To Bank Soon

Bank Holidays: Settle The Work Related To Bank Soon

If you have any big work related to the bank in recent times, then it will be beneficial to do it before Holi. Actually, this week banks will be closed for four consecutive days. This week is the festival of Holi, due to which there will be no work in the banks and banks will …

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There Was No Loss To Public Sector Banks in Last Three Quarters: Government

There Was No Loss To Public Sector Banks in Last Three Quarters: Government

On behalf of the Central Government, it was told in the Rajya Sabha that in the last three quarters, no public sector bank has suffered losses, that is, their health has become better. Apart from this, the profit of all public sector banks stood at Rs 48,874 crore during this period.  Minister of State for …

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Breaking: Micro Finance Lenders Cannot Charge More Interest From Customers- RBI

Breaking: Micro Finance Lenders Cannot Charge More Interest From Customers- RBI

The Reserve Bank of India (RBI) on Monday said that micro-finance lending institutions cannot charge more interest from customers. A micro-finance loan refers to a guarantee-free loan given to a family with an annual income of up to Rs 3 lakh. Along with this, these lenders have also been asked by the RBI to fix …

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Big Relief: RBI Lifted Restrictions On HDFC Bank. Know Details Here

Big Relief: RBI Lifted Restrictions On HDFC Bank. Know Details Here

The Reserve Bank of India has lifted all restrictions on private sector HDFC Bank’s Digital 2.0. Information in this regard has been provided by the bank to the stock exchange. It has been said by the bank that after the lifting of the ban, it can resume all types of digital initiatives.  HDFC Bank on …

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Maharashtra Budget 2022-2023 highlights: New GST amnesty scheme introduced

Tabling the third budget of the Shiv Sena-NCP-Congress government in the Legislative Assembly, Pawar, who holds the finance portfolio, said a provision of Rs 1,50,000 crore has been made for the annual plan. As per the budget estimates, revenue receipts would be to the tune of Rs 4,03,427 crore, and revenue expenditure at Rs 4,27,780 …

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Big Blow To Paytm Payments Bank

Big Blow To Paytm Payments Bank

The days of Paytm, a leading digital payment service provider in the country, are not going well. Since its listing in the stock market, the process of breaking its shares continues, due to which the investors are suffering huge losses. On the other hand, the Reserve Bank of India has given another big blow to …

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Important News! Change photo and mobile number in Aadhaar card, Know very easy ways

Often people have many mistakes in their Aadhaar card including mobile number or address. Because of this people have to suffer a lot. People bother to get it right. If there is some mistake in your Aadhar card, then we are telling you how you can get it corrected by sitting at home. Can make …

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Finance Minister Nirmala Sitharaman chairs post-Budget meeting with heads of Banks, NBFCs and Financial Institutions

Finance Minister Nirmala Sitharaman chairs post-Budget meeting with heads of Banks, NBFCs and Financial Institutions Finance Minister exhorts all banks to sign up to Account Aggregator Framework, says it will improve credit flow and promote digital lending Meeting emphasizes that Benefits of digital banking should reach every nook and corner of the country in a …

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GST Taxpayers: How to amend or modify e-invoice?

Businesses generate invoices daily using a variety of software. As a result, the number of formats and invoice schemas has multiplied, especially among the B2B customers and GST taxpayers. The invoice is a critical document and important when filing GST returns. However, an invoice generated in one billing system may not be accepted by software or …

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Income Tax Department’s 3-episode series on the important changes in Direct Taxes proposed in Budget 2022

Budget 2022 – Income Tax Department’s 3-episode series on the important changes in Direct Taxes proposed in Budget 2022 Namaskaar from the Income Tax Department. BUDGET 2022 IS HERETo benefit taxpayers and all stakeholders, the IncomeTax Department is airing a three-part series on how Budget 2022 impacts taxpayers across the country.Hear it straight from the …

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CBIC  to  scale  up departmental audits to boost GST  compliance

CBIC  to  scale  up departmental audits to boost GST  compliance Budget 2021: Experts don’t see the government making big changes to income tax rules this year Central Board of Indirect Taxes and Customs (CBIC) is set to scale up scrutiny and departmental audits of risky taxpayers to improve goods and services tax (GST) collections while …

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EC extends ban on public rallies, roadshows till January 31

The Election Commission of India today held a review meeting with the Secretary, Ministry of Health and Family Welfare, Government of India through virtual mode. The Commission also held virtual meetings with Chief Secretaries, Chief Electoral Officers and Health Secretaries of Goa, Manipur, Punjab, Uttarakhand and Uttar Pradesh. Chief Election Commissioner Shri Sushil Chandra along …

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Story Behind The Words "CA Se Dur Raho"

Story Behind The Words “CA Se Dur Raho”

Co-Founder of Lenskart.com Peyush Bansal made a comment in his talk show Shark Tank India that “CA se dur raho”. After these words used by him for CAs, the CA fraternity has started mentioning him at social media handles. CA Neetu Jain posted at LinkedIn that “Peyush Bansal you owe an apology to CA fraternity …

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Healthy Starter for a Healthy year

We, from Tax Concept wishes all our readers, viewers, followers, subscribers a very happy, healthy & prosperous year ahead. As a part of social well-being we would like to make our readers aware of some healthy lifestyle tips related to Food, Bath & Sleep Provided by Vedic literature. This would also help many people who …

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TDB supports development and production of receiver modules essential for an app that provides navigation support

India will soon develop and manufacture receiver modules essential for the NavIC (NAVigation with Indian Constellation), an application developed by ISRO for constellation of seven satellites that, together, provide navigation support over India and 1,500 km around it. Support for scaling up this technology, which is also essential for GPS (Global Positioning Systems)s will be a …

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GST AND INCOME TAX ON CRYPTOCURRENCIES

What is Crypto currency? Crypto currency is a virtual or digital representation of money’s worth. Crypto currency is a digital currency that can be exchanged online for goods and services, but uses an online ledger with strong cryptography to secure online transactions. Crypto currency work using a technology called Block chain. A crypto currency is …

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ICSI CSEET January 2022 Session registration ends today

ICSI CSEET January 2022 Session registration ends today

Institute of Company Secretaries of India (ICSI) conclude the online registration process CS Executive Entrance Test or CSEET January 2022 session today, December 15. Candidates can apply for the exam on the official website icsi.edu. Eligibility Conditions A candidate passed / appearing in the Senior Secondary (10+2) Examination or equivalent thereto is eligible to appear …

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Applicability and Requirements of Form E- MGT 15

eForm MGT-15 Under Companies Act, 2013

Applicability and Requirements of Form E- MGT 15:- Report on Annual General Meetings as per Companies Act 2013 As per Section 121 (1) of the Companies Act, 2013 every listed public company has to file MGT 15 (Report on Annual General Meeting) in less than 30 days from the completion of the Annual General Meeting. …

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