On Feb 20, 2017, Indian Govt has launched BharatQR Code to simplify the process of digital payment at merchant / retail shops. BharatQR allows merchant and retailers to get a QR code from their bank and once done, they can easily take payments from customers.
Majority of Banks have already started supporting Bharat QR code based payments in their mobile apps. SBI (State Bank of India) is Indis's biggest bank due to huge network across length and breadth of India. Given that, the support of BharatQR payments through SBI issued debit and credit cards is absolutely essential for BharatQR success.
BharatQR code (or Bharat QR code) is the new scheme launched by Indian Government to simplify the process of digital payment at merchant and retail outlets.
Earlier QR code has been successfully used by PayTM to enable payments at retails or merchants. But currently Paytm does not support deducting or depositing money directly to your bank account and hence one need to operate an additional wallet account (with its associated fees for withdrawing money).
BharatQR code fixes this problem and democratizes the QR code for indian masses.
EPFO (Employee Provident Fund Organization) has been working on simplifying the process of withdrawal from EPF (Employee Provident Fund) and EPS (Employee Pension Scheme). Earlier it has issued a new version of Form 19 & Form 10C for withdrawal and new version of Form 31 for Advance from member EPF account. But this process is now simplified even further with the introduction of new single page CCF forms.
CCF full form is Composite Claim Form and it is new simplified single page form for PF fund withdrawal or advance from EPF account. CCF Form comes under active circulation from Feb 20, 2017.
Loan (dictionary meaning) -- a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
Loan relates to lending of money and is an indispensable part of every economy in the world.
One of the most important development in Mutual fund space in India is the investor ability to get a consolidated account statement for all investments across different mutual funds. This has proved immensely helpful for investors to track their investments at one place and in a very easy manner.
The best option to get your consolidated statement is through camsonline.
cKYC full form is Central Know your customer and it is the new KYC scheme by Indian government. KYC (Know your customer) is the process of verifying the identity and address of customer before allowing him/her to participate in a particular transaction and is an essential part of bank regulations in India.
Every individual or company performing any financial transactions in banks, mutual funds, insurance etc need to be cKYC compliant. cKYC system has become live from Feb 1, 2017 and henceforth all new investors in mutual funds or new accounts in banks need to do cKYC. Existing KYC compliant individuals don't have to do anything at this moment.
cKYC (Central KYC) is new KYC (Know your customer) process mandated by Government of India and active since Feb 1, 2017. As part of cKYC, all customers opening a new bank account or new mutual fund transaction need to be CKYC complaint.
Below are the CKYC forms for individuals and non-individuals (legal entities). You need to submit these forms to the financial entity you are interacting with (e.g, bank or mutual fund broker or insurance company etc)
GST Bill (Good and Service Tax Bill) is indirect tax system in India that covers manufacture, sale, and consumption of goods as well as all sort of services. This will was in discussion for long and was eventually passed by parliament in India in Aug 2016.
Form 16 is the most important document for figuring out the income tax liability for a salaried person. In this document we cover the importance and detail of form 16.
Since Dec 2016 to March 2017, EPFO (Employee Provident fund Organization) has taken a massive exercise to digitize all EPFO member records and enroll as many new member as possible. To make it practical, it has now mandated compulsory UAN number for all fresh contribution to EPF.
Though EPFO has right intentions in place, in practice these changes have led to lot of ...