In this article we will discuss about the verification of assets and liabilities in a bank: 1. Cash and Bank Balances 2. Deposits and Other Accounts 3. Acceptances, Endorsements and Other Obligations 4. Borrowings from Others 5. Loans and Advances 6. Investments 7. Bills Purchased and Discounted 8. Inter-Branch, Inter-Company, and Overseas Transactions 9. Money at Call and Short Notice. [...]
The following points highlight the top seven accounting policies for banking companies. The policies are: 1. General 2. Transactions Involving Foreign Exchange 3. Investments 4. Advances 5. Fixed Assets 6. Staff Benefits 7. Net Profit. General: The accompanying financial statements have been prepared on the historical cost basis and conform to the statutory provisions and practices prevailing in the country. [...]
In this article we will discuss about the Legal Provisions of Banking in India:- 1. Definition of Banking 2. Forms of Banking Business 3. Non-banking Assets 4. Management 5. Minimum Capital and Reserves 6. Floating Charge 7. Restrictions of Dividends 8. Statutory Reserve 9. Cash Reserves and Statutory Liquidity Reserve 10. Restrictions on Loans and Advances 11. Subsidiary Companies 12. [...]