Tez: Google Payment App

Tez is the Unified Payments Interface (UPI) based digital payment service launched by Google. It was launched o 18 September 20017. Tez means speed in Urdu.To capture a major share of the digital payment market in India,

Sovereign Gold Bond Scheme (SGB Scheme)

Sovereign Gold Bond scheme is an investment scheme announced by Government of India. The scheme is open for subscription from Monday to Wednesday of every week from October 09, 2017. The SGBs are issued for a period

GST council announces changes and date extensions for  GST return filing

GST rate cut was the major announcement made by the Goods and Services Tax Council in its 23rd meeting in Guwahati.  Apart from that a number of measures were also announced to ease compliance norms with regard

Aadhaar Seeding – NPCI Clarification on Explicit Consent of Customer 

Aadhaar linking with bank accounts and Aadhaar seeding Aadhaar seeding is the process of including the Aadhaar number in the  database of service providers to enable transfer of money, subsidy amount or any other government benefit to

Legal Entity Identifier (LEI)- Corporate Borrowers and OTC Participants

Reserve Bank of India(RBI) has instructed banks to ensure that all their large borrower entities obtain the Legal Entity Identifier in a phased manner. According to the directive all corporate borrowers enjoying fund based and non-fund based

Legal Entity Identifier (LEI)

Legal Entity Identifier is a global standard to identify distinct legal entities that engage in financial transactions. What are the features of Legal Entity Identifier (LEI)? Legal Entity Identifier is a key measure to improve the quality

Chip Embedded Debit and Credit Cards (Chip Cards)

Debit cards and credit cards have revolutionized the banking and payment industry. The volume of financial transactions settled through cards has overtaken payments through cheques and currency in many countries.  Along with increase in the volume of

Rates of Income Tax – Financial Year 2017-18 (Assessment Year 2018-19)

Rules of Income Tax Act are subjected to periodical revisions. Accordingly, the rates of income tax also undergo periodical changes. Different tax rates have been stipulated for various categories of taxpayers and for different sources of income.

RXIL-Receivable Exchange of India Limited

Receivable Exchange of India Limited (RXIL) is the first Trade Receivables Discounting System (TReDS) that became operational in India.  Receivable Exchange of India Limited began its operation on January 9, 2017. TReDS is an automated system driven

TReDS-Trade Receivables Discounting System

Trade Receivables Discounting System(TReDS) is the first attempt in India to introduce automated  system driven factoring service for the MSMEs. In Trade Receivables Discounting Systems, factoring service can be availed of by MSMEs without recourse.  What is

Filling up of a blank cheque need not be material alteration

Reference Order by the High Court of Gujrat in the case of Nikhil P. Gandhi vs. State of Gujarat – CDJ 2016 GHC 071   Back Ground:  The applicant was an ex- Managing Director of a company.

Savings Bank (SB) account interest rate cut: More Banks reduce rate

Savings Bank interest rate cut initiated by State Bank of India (SBI) has prompted other banks too to take similar step. Taking a cue from the announcement by SBI, four other major banks have announced reduction in