Articles by Manish Mehra

Budget - An Understanding of Basics

Posted by Manish Mehra 15 July 2024 1264 Views

The budget is an important event for the country; it has a far-reaching impact on the lives of millions of people in the country and around the world. It is a reflection of the government's intentions toward various parts of the economy. Let us brush up on a few basics regarding the same.

Amalgamation of Co-operative Banks - Guidance of RBI on amalgamation of DCCBs with STCB

Posted by Manish Mehra 31 May 2021 5989 Views

Guidance has been provided over proposal submission, compliance to be made, stages of approval, regulatory requirement, post amalgamation requirement, disclosure to be made post amalgamation in the annual report and many more.

TDS on cash withdrawal in India

Posted by Manish Mehra 21 May 2021 2629 Views

Section 194N has imposed a TDS liability on Payer when any cash payment exceeding Rs. 1 crore is made (individually or in aggregate) during the financial year to Payee.

RBI set parameters for appointing Bank Auditor for FY 2021-22 and onwards

Posted by Manish Mehra 01 May 2021 13604 Views

RBI on 27.04.2021 has issued guidelines for the appointment of Statutory Central Auditors of commercial banks (excluding RRB), Urban cooperative banks (UCBs) and NBFCs including Housing Finance Companies.

Corporate Governance in Banks: RBIs instruction ahead of master direction

Posted by Manish Mehra 01 May 2021 3697 Views

RBI has made a comprehensive review of the framework for governance in commercial banks. Instructions regarding the chair of the board, composition of its committee, age, tenure and remuneration of directors/whole time directors have been issued.

Corporate Tax rate for FY 2021-22

Posted by Manish Mehra 18 April 2021 17543 Views

Since the applicability of the Finance Act 2020, along with Finance Act 2021, there has been some complexity attached to the new reforms. In this article, an effort has been made to simplify such complex tax rates.

Cooperative Banks - In the light of The Banking Regulation (Amendment) Act, 2020

Posted by Manish Mehra 30 October 2020 4268 Views

There are 1577 cooperative banks in India as 33 State cooperative banks, 1482 Urban cooperative banks, 62 multi-state cooperative banks. Understanding why an amendment is brought in the Banking Regulation Act in the citation of cooperative banks.

RBI directs the banks for automation of NPA recognition system

Posted by Manish Mehra 26 September 2020 7097 Views

RBI has directed the banks for putting in place the system for the automation of NPA, latest by 30th June 2021. Read some of the highlights of the circulars here.