Recent reports said that Indian bank has planned to grow in its total business by 24 per cent that is Rs. 2, 25,000 crore in the current fiscal. The growth is expected to include Rs. 1, 00,000 crore of advances in 2011-12 and the total business which stood at Rs.1, 82, 000 crore. The bank… Read More »
The amount by which assets exceed liabilities is called the net worth. This term is applicable to both companies and individuals. In case of an individual, it is the difference between the assets and liabilities of the individual. In business, net worth (sometimes called net assets) is the total assets minus total outside liabilities of an… Read More »
What are bad debts? Most of us would have come across this term at some point of time. Bad debt literally refers to the debt or the money owed by someone which has lesser or no chance of being recovered. This term is mostly found on the balance sheets of companies and banks. In companies… Read More »
Balance sheets form a fundamental documentation of an individual, company, non profit organization or government department or agency showing the current financial condition of the entity. It includes a glimpse into the assets and liabilities of the entity. A balance sheet therefore gives a picture of the net worth of an entity. Balance sheets generally… Read More »
According to Association of Mutual Funds in India (AMFI) guidelines, investments made through third-party cheques will not be accepted by mutual funds. A cheque issued and signed by any person other than the first holder of the investment is treated as a third-party cheque. There are a few exceptions applicable to this rule too. Payments… Read More »
In the background of the earthquake and tsunami in Japan, nuclear reactors have become a heated topic of discussion. Unaffected by the panic created by the nuclear radiation hazard that threatened Japan, India is likely to go ahead with its nuclear plans. Nuclear Power Corporation (NPCIL), the country’s sole nuclear utility, has approached a leading… Read More »
IndusInd Bank has tied up with a housing finance company (HFC) to originate and distribute mortgages for a fee. Under this agreement, the borrowers would be customers of the bank while being in the books of HFC. Currently, home and personal loan together account for just Rs 227 crore (1 per cent of book worth… Read More »
According to recent reports, Bajaj Auto, India’s second largest two wheeler makers have signed up with State Bank of India to offer finance to its dealers. The tie up will offer cash credit ranging from Rs. 25-lakh-Rs 5-crore to the dealers of Bajaj Auto. SBI has already captured a significant role in offering loans at… Read More »
An automated teller machine (ATM) is a machine which enables immediate cash withdrawal from a person’s bank account. This withdrawal requires an ATM card or ATM/debit card and the password to access the cash from the account. This removes the trouble of going to the bank were a person’s account is, to withdraw the cash… Read More »
Using cheques for financial transaction is more frequent these days. The use of cheque as a financial instrument is done in the good faith that the cheque will be honored and cleared when given in for processing in a bank. The condition when the actual financial transaction is not possible by the cheque or the… Read More »