Keyman insurance is a life insurance
policy on the key employee or person’s who, is an important
factor in the business for their specialized skills .The keyman
insurance covers the key person and if the key person dies unexpectedly,
the company receives the insurance pay off. Thus the key man insurance
policy not only helps the company to recover from the loss of the
key person it also helps the key person .
Trading in carbon credits is an emerging
business globally as the cost of purchasing carbon credits
from developing countries like India or China is much less
than earning the credit through emission reduction in the developed
countries. Carbon credits are earned by reducing carbon emissions
from plants etc. Indian companies can also profit by selling
their carbon credits in dedicated exchanges in Europe and the
US at a much higher price.
Capital Adequacy Norms-To meet the
deadline set by the RBI for banks to implement the Basel II norms,
banks are now gearing up for the implementation of the next stage
of capital adequacy norms in March, 2008 . As for the guidelines
issued by RBI banks will have to set aside more capital to tackle
a variety of risks. Local commercial banks with overseas
office have to implement Basel norms latest by March, 2008. The
Basel II norms have been put in place by the Bank for International
Settlements -B IS., which is the central bank of all central
banks .Under the Basel II norms, for March 2008, banks have
to set aside capital for the loan that
is sanctioned, but not availed by the borrower. The risk weightage
is 20% for short-term unavailed limits and 50% for long-term
unavailed limits. This would affect banks’ capital adequacy
ratio (CAR).
CBS-Core Banking Solutions-(CBS)
is the banking solution with the art-of-technology driven approach.
This is high tech IT supportive to the banking activities which
covers all the functionalities of the bank and provides the concept
of ‘Anywhere banking’ to the customers. Customers
are treated as ‘Bank customer’ against ‘Branch
customer’. The modules of the centralized solution are
user-friendly in nature and has different approaches for different
categories of users of the bank....more on CBS- http://www.pnbiit.com/cbs.htm
What is e-filing ? If
you submit any forms online that would broadly classified as
e-filing. It can be done with any computer having an internet
connection. The government has started making it mandatory in
certain cases where companies/ individuals have to use e-filing
to submit their returns. The Ministry of company affairs; The
Income Tax departments; The Central Board of Excise and Customs
have already implemented and started making it mandatory in certain
cases. For example-online income tax returns fillings by
corporate is now mandatory. E-filing is simple and convenient
but one has to be particular while submitting data on the online
format. For example- a casual dot, hyphen or "extra space" may
create problem. Taxpayers not yet conversant with the software
can well commit errors inadvertently while filling up the forms.
What is Basel II ?The
Basel II Framework describes a more comprehensive measure and
minimum standard for capital adequacy that national supervisory
authorities are now working to implement through domestic rule-making
and adoption procedures. It seeks to improve on the existing
rules by aligning regulatory capital requirements more closely
to the underlying risks that banks face. In addition, the Basel
II Framework is intended to promote a more forward-looking approach
to capital supervision, one that encourages banks to identify
the risks they may face, today and in the future, and to develop
or improve their ability to manage those risks. As a result,
it is intended to be more flexible and better able to evolve
with advances in markets and risk management practices.
The efforts of the Basel Committee on Banking Supervision to
revise the standards governing the capital adequacy of internationally
active banks achieved a critical milestone in the publication
of an agreed text in June 2004.Basel-II implementation in Indian
banks have been delayed by a maximum of two years till 2009.The
RBI has decided to postpone the deadline for implementing the
stringent norms on capital standards set by the Bank
for International Settlements (BIS).
|
