Commercial banks in India perform various functions, including accepting deposits, making loans, and providing other banking services. One of their key functions is credit creation, where they create new money by making loans to borrowers, thereby increasing the money supply in the economy. The Reserve Bank of India (RBI) issues currency, provides banking services to the government, and regulates credit in the economy, but these are not functions of commercial banks.
Section 24 (a) prescribes the standard deduction from NAV of a sum equal to?
ABD Limited received 5,90,000 as premium on new policies and 1,20,000 as renewal premium. The company received 90,000 towards reinsurance accepted and p...
When is a Suspense Account opened?
Government company is defined under which section?
What does section 6 of the Income Tax Act deal about?
Goods returned by customer will be debited to which account?
A & B are partners sharing profits & losses in the ratio of 3 : 2. They admitted C into partnership with 3/10 share in the future profits of which he re...
A share is quoted at Rs. 60. An investor expects the company to pay a dividend of Rs. 3 per share, one year from now. The expected price of share after ...
A company earned a profit of Rs. 10,000 during the year. If the marginal cost and selling price of the product are Rs. 2 per unit and Rs. 4 per unit res...
With effect from ______, the historic indirect tax reform- GST was introduced in India.
