In such cases where a nomination in respect of a Government security has been made in favour of two and either or any of the nominees is dead, the surviving nominee will be entitled to the Government security and payment thereon.

Yes. Whenever the due dates fall on Saturday/Sunday/non-business working day/holidays, banks are permitted to pay interest on NRE and FCNR(B) deposits at the originally contracted rate for the intervening period between the due date and date of payment so that no interest loss is suffered by the depositors.

Central banks the world over change the design of their banknotes and introduce new security features primarily to make counterfeiting difficult and to stay ahead of counterfeiters. India also follows the same policy.

No, the definition of “companies is a group” is only for the purpose of determining the applicability of prudential norms on multiple NBFCs in a group.

Answer: The capital instrument has to be issued by the Indian company within sixty days from the date of receipt of the consideration.

The NBFCs are entitled to depreciation benefits as a lessor on the assets leased out by them. The Guidance Note on Accounting for Leases issued by ICAI may entail creation of lease equalisation account/lease adjustment account. As per accounting practice, the entire amount of lease rentals is shown as gross lease income on the credit side of the profit and loss account. The income from equipment leasing, therefore, has to be computed on the basis of gross lease income net of depreciation on assets leased out and the lease equalisation account, if any. In the case of hire purchase finance, only the component of finance charges is taken to the Profit and Loss Account and therefore, such finance charges will be taken as hire purchase finance income. The composition of assets in the equipment leasing and hire purchase finance activities has to be worked out as a percentage of the total assets net of depreciation and net of lease adjustment account, if any, as disclosed in the audited Balance Sheet of the company. Hire purchase assets should be taken as stock on hire less unmatured finance charges. The sum total of debit balance in Profit and Loss Account, deferred revenue expenditure and intangible assets like Goodwill will also be excluded from the total assets.

Ans: An enterprise is said to have a centre of economic interest and to be a resident unit of a country (economic territory) when the enterprise is engaged in a significant amount of production of goods and/or services in that centre or when it owns land or buildings located in that centre. The enterprise must maintain at least one production establishment in the country and must plan to operate the establishment indefinitely or over a long period of time.

Ans: No, investments made by branches of your bank located outside India should not be included in CPIS.

No, it is not permitted.

No. You cannot transfer the money into your Paytm Payments Bank account after March 15, 2024