Partially Freeze KYC Non-Compliant Accounts

Banks can Partially Freeze KYC Non-Compliant Accounts

Partial Freezing of Bank Accounts Reserve Bank of India has asked Banks to Partially Freeze Accounts of the customers who has yet not complied with the KYC Norms. What is KYC? KYC stands for Know Your Customer which was introduced in 2002 by Reserve Bank of India. In simple words KYC is a process to...
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Kisan Vikas Patra Rules 2014

Kisan Vikas Patra Rules 2014 Notified by Government

Kisan Vikas Patra Rules 2014 Finance Ministry in a bid to rejig small savings scheme reintroduced Kisan Vikas Patra in Budget 2014. Here are the full revised “Kisan Vikas Patra Rules 2014″ GSA- 705(E).— In exercise of the powers conferred by section 12 of the Government Saving Certificates...
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Employees Provident Fund New Rules Applicable from 1st Sept 2014

Employee Provident Fund New Rules

Employee Provident Fund New Rules Applicable from 1st Sept 2014 Employee Provident Fund Organization (EPFO) has amended the Employee Provident Fund (EPF) rules by inserting some major changes. These changes have been made applicable from 1st Sept 2014. 1. Employee Provident Fund contribution made mandatory...
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LIC Jeevan Shagun

LIC Jeevan Shagun: Savings-cum-Protection Single Premium Plan

LIC Jeevan Shagun Review On the Completion of 58 years, LIC has launched a new single premium plan “Jeevan Shagun” which is a non-market linked, with-profit money-back plan. This policy is quite similar to the “Jeevan Raksha” but it is a close ended plan which means this plan...
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Tax-Free-Bonds

Tax-Free Bonds Benefits

After discontinuing tax-saving bonds last Budget, the finance ministry might now draw the curtains on tax-free bonds, designed to encourage long-term investments in the infrastructure sector. Tax-free bonds are those bonds issued for long term, for investment horizon of 10 to 15 years, in which interest...
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Fixed Maturity Plans versus Fixed Deposits

Fixed Maturity Plans vs. Fixed Deposits post Budget 2014

Fixed Maturity Plans loses sheen after recent Budget has taken away the tax advantage it had, thus leaving it in a neck to neck competition with fixed deposits. Read: Taxation of Fixed Maturity Plans after Budget 2014 Fixed Maturity Plans vs. Fixed Deposits Particulars Defining Basic Structure...
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Pradhan Mantri Jan Dhan Yojana

Facts to Know about Pradhan Mantri Jan Dhan Yojana

Pradhan Mantri Jan Dhan Yojana (PMJDY), which was announced on the eve of Independence by the India’s Prime Minister Narendra Modi, has been launched today. The main motto of this scheme is to bring every household into the ambit of banking. The name “Jan Dhan Yojana” which means People...
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