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Bank Account Queries

What is Altman Z Score For Risk Assessment in Banks ?

Altman Z Score is used to identify bankruptcy potential of the firms or companies. The Altman score is the output of a...

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Banking News

SC Extends Period of Limitation for Filing Appeals Due to COVID

The top court has extended the period of limitation for filing appeals by litigants until further orders due to COVID alarming situation....

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Banking News

What is Positive Pay System For Cheque Clearing, Know the Charges ?

Positive Pay System of making payment to high value Cheques in Clearing or The Cheque Truncation System (CTS) -  To further augment...

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Mutual Fund

What is Equity Growth Oriented Scheme ?

The basic aim of growth funds in equity scheme is to provide capital appreciation over the medium to long- term. Such schemes normally invest a major part of their corpus in equities in stock markets. Being invested in equities such funds have comparatively high risks. These schemes provide different options to the investors like dividend option, capital appreciation, etc. and the investors may choose an option depending on their preferences. The investors must indicate the option in the application form....

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Mutual Fund

What is Close-ended Mutual Fund Scheme ?

A close-ended fund or scheme has a stipulated maturity period e.g. 5-7 years. The fund is open for subscription only during a specified period at the time of launch of the scheme. Investors can invest in the scheme at the time of the initial public issue and thereafter they can buy or sell the units of the scheme on the stock exchanges where the units are listed. In order to provide an exit route to the investors, some close-ended funds...

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Mutual Fund

What is Open-ended Mutual Fund Scheme ?

An open-ended fund or scheme is one that is available for subscription and repurchase on a continuous basis. These schemes do not have a fixed maturity period. Investors can conveniently buy and sell units at Net Asset Value (NAV) related prices which are declared on a daily basis. Mutual funds under open-end schemes can be liquidated any time.

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Income Tax

Can I invest more than Rs.50,000 and claim tax benefit under RGESS?

One may invest any amount in a demat account designated under RGESS, but the benefit under the Scheme can be claimed only on investment up to Rs. 50,000. However, you have the freedom to select the stocks to be kept under lock-in for upto Rs. 50,000 for claiming benefits under RGESS. It may be noted that the depository would be automatically locking-in all the eligible securities which comes into an RGESS designated demat account during the first financial year upto...

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Education Loan

What is the Eligibility Criteria For Education Loan in India ?

Student eligibility: The student should be an Indian National.Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/Merit Based Selection process after completion of HSC(10 plus 2 or equivalent). However, entrance test or selection purely based on marks obtained in qualifying examination may not be the criterion for admission to some of the post graduate courses or research programmes. In such cases, banks will have to adopt appropriate criteria based on...

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