Check these broad changes.
The Rajya Sabha last week passed the Companies Bill enacting a new framework that will redefine India’s corporate governance norms
Check these broad changes.
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Knowthenet presents Manners Matter the online Netiquette Do's and Don'ts infographic. Doing more with less by employing 'lean thinking.' Lean manufacturing involves never ending efforts to eliminate or reduce 'muda' (Japanese for waste or any activity that consumes resources without adding value) in design, manufacturing, distribution, and customer service processes. Check this interesting video Check these Lean Principles from http://leanmanufacturingtools.org
National Electronic Fund Transfer(NEFT )is a system of transfer between two banks on net settlement basis. Which means that each individual transfer from one account to another account is not settled or processed at that same moment, its done in batches .
Real time gross settlement system(RTGS) is used in banks. In this system, all processing of payment and settlement are done through electronic way. It means when you pay online, same time, it will be debited in your bank account and credited in the account to whom you have paid.
A value added tax (VAT) is a consumption tax added to a product's sales price. It represents a tax on the "value added" to the product throughout its production process. How It Works/Example: The VAT system is invoice-based. Each seller in the product chain includes a VAT charge on the buyer's invoice. Under a VAT taxation system, all sellers collect the tax and then pay it to the government. The VAT gives sellers along the supply chain a direct economic motivation to collect the tax, thereby reducing the incidence of tax evasion. Don't confuse the VAT with sales tax. Under a sales tax, the tax is collected only once at the consumer's point of purchase. The VAT tax, however, is collected every time a business purchases products from other businesses within the product's supply chain. Why It Matters: The VAT is a highly efficient flat consumption tax that reduces the incidence of non-compliance. More than 100 countries have adopted it -- with rates ranging from 10% - 25%. The Sensex and Nifty are " index". They are basically an indicator. It gives you a general idea about whether most of the stocks ( share prices )have gone up or gone down.
The Sensex is "sensitive index"which is an indicator of all the major companies of the BSE(Bombay Stock Exchange) · If the Sensex goes up, it means that the prices of the stocks of most of the major companies on the BSE have gone up. If the Sensex goes down, this tells you that the stock price of most of the major stocks on the BSE have gone down. · The Sensex is calculated taking into consideration stock prices of 30 different BSE listed companies. · The 30 companies that make up the Sensex are selected and reviewed from time to time by an “index committee”. This “index committee” is made up of academicians, mutual fund managers, finance journalists, independent governing board members and other participants in the financial markets. Want to know detail for calculation: http://www.indiahowto.com/how-to-calculate-bse-sensex.html The Nifty is an indicator of all the major companies of the NSE( National Stock Exchange) · NIFTY was coined fro the two words ‘National’ and ‘FIFTY’. The word fifty is used because; the index consists of 50 actively traded stocks from various sectors. · Nifty is calculated using the same methodology adopted by the BSE in calculating the Sensex · 50 top stocks are selected from 24 sectors. Besides Sensex and the Nifty there are many other indexes. 1. index for the metal stocks 2. index for the FMCG stocks. 3. index for the automobile stocks etc. Crossing of Cheques By draw two parallel lines across the left hand corner of the cheque, this crossing can prevent the cheque from being directly encashed. The crossed cheque must be deposited into a bank account. If the cheque has been stolen, it is easily traced by locating the account it was deposited into. Want to know more,click following links : http://bemoneyaware.com/cheque.php http://www.bankingonly.com/article_details.php?article_id=17 Understanding the p-valueI found this interesting video which explains the concept of p-value Reverse Repo rate is the rate at which the RBI borrows money from commercial banks. Banks are always happy to lend money to the RBI since their money are in safe hands with a good interest. An increase in reverse repo rate can prompt banks to park more funds with the RBI to earn higher returns on idle cash. It is also a tool which can be used by the RBI to drain excess money out of the banking system. The rate at which the RBI lends money to commercial banks is called repo rate. It is an instrument of monetary policy. Whenever banks have any shortage of funds they can borrow from the RBI. A reduction in the repo rate helps banks get money at a cheaper rate and vice versa. The repo rate in India is similar to the discount rate in the US. Thus, we can conclude that Repo Rate signifies the rate at which liquidity is injected in the banking system by RBI, whereas Reverse repo rate signifies the rate at which the central bank absorbs liquidity from the banks Current rates (As on June 2012)
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