What is a Statutory Liquidity Ratio or SLR?Statutory Liquidity Ratio (SLR) is the essential reserves requirement expected from banks before giving customers credits. It is a minimum percentage that commercial banks have to adhere to in terms of cash, gold, or security. The Reserve Bank of India (RBI) does
Wondering what is liquidity ratio? Simply put, it is a metric that helps understand a company’s ability to pay off short-term debt. It is helpful to estimate whether a company’s current assets can cover its liabilities. It is largely used by banks and other financial institutions to determine
If you are a working professional, you may have earned promotions and saved a lot of money over the years too. Now, it is time to start thinking of investing all the extra cash. And while you mull over your options, include this important aspect of investing while conducting your
This Tax Credit Statement form is an important document for taxpayers. It reflects the total tax paid to the Income Tax (IT) Department by you and much more. From November 2020, this statement includes details about special financial transactions, tax demands, completed and pending assessment proceedings, and refunds. What is
Technological advancement has modified the banking industry and transformed the communication between banks and their customers. Retail banking is changing by the day and traditional banks are facing competition from digital banks that offer access via an Internet-connected smartphone or any other device. Digitization allows you to access banking products
Tax deducted at source (TDS) aims to collect tax from the income source. The collector who has to make a specified payment must deduct TDS and remit this amount to the Central Government’s account. The deductee (from whose payment the TDS is deducted) receives credit for the same amount
Digital banking is done online via digital platforms, and it eliminates paperwork. Various banking services, such as moving cash deposits, account management, bill payments, fund transfers and withdrawals, investments, and loan applications and management are digitalized. What is digital banking?Today, most customers have smartphones and other gadgets, giving them
An important component of investment planning is insurance, which helps in achieving financial stability. It is an agreement between the insurer and the insured to reduce the risks and provide protection against possible financial losses arising due to uncertainties. You pay a certain amount known as a premium to the
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