Opening a business in India is a lengthy process. When starting up a small or medium business (SMB), you may get confused about the requirements for registration. One of the important requirements for registering an SMB is Udyog Aadhaar. It is also known as Aadhaar for business. It is a 12-digit Unique Identification Number provided […]
Author: Om Prakash
A current account is very beneficial for proprietors, startups, and business professionals to cater to different financial needs. The ICICI bank provides various services related to the current account. The ICICI bank provides its customer with anywhere banking that allows them to avail facilities from any branch like internet banking, bulk transactions, doorstep banking, upcountry […]
Many of you might have heard about various types of accounts in banks. They help organizations, business professions or an individual to manage the day to day withdrawals or transactions. But, businessmen have to face a lot of trouble maintaining the minimum balance. And when there is a problem, there is a solution. That is […]
The Immediate Payment Service (IMPS), which allows account holders to connect a bank account and transfer funds via mobile phones 24x7x365. Since February 2012, about 15 banks have made the service available to their customers, and the number of people using it has increased dramatically. As of now, almost all major banks have expanded the […]
Table of Contents What is RTGS? How does RTGS Transfer work? Information required for RTGS Fund Transfer. How to do RTGS Fund Transfer? Advantage of RTGS Transfer. RTGS vs NEFT Conclusion Frequently Asked Questions What is RTGS? The term “Real-time Gross Settlement” or RTGS refers to a particular type of fund transferring system to transfer money […]
A business has to do a lot of transactions. But you may know that there are various restrictions imposed by the bank regarding withdrawals and transactions. It was creating problems for the business class, who used to have enormous transactions. To solve these problems, the concept of the current account was introduced. And trust me, […]
Running a business, especially a startup, is not an easy task. There are many decisions involved, like choosing a proper workspace, hiring professionals, managing finances, opening an account with the best bank for the current account, etc. As soon as startup entrepreneurs register their company, many banks start offering current accounts. It becomes challenging to […]
We all know that businesses will need to do a GST audit with a turnover of more than Rs 2 crores from selling products or services during the financial year. But do you know what is GST Audit, GST Audit Limit, GST Audit Applicability? Well, if you’re in confusion, You have come to the right […]
Have you ever heard the term MDR and confused as to what it is? Well! If yes, worry not, we are here to answer all your queries related to MDR or Merchant Discount Rate. Let’s start Table of Contents What is Merchant Discount Rate? How Merchant Discount Rate works? Why is Merchant Discount Rate Important? […]
E-Invoice under GST The government of India implemented E-invoice under the GST system back in 2020, and most organizations supported the administration’s decision. Initially, the companies with an annual turnover of Rs 500+ crores were liable to generate e-invoices. However, with each notification, the turnover limit for e-invoice kept reducing. And the current turnover limit […]