Types of Bank Accounts - Indian Banking System.

Reserve Bank of  India

CURRENT ACCOUNT:

·         Current accounts are usually for businessmen and daily transactions.

·         It doesn’t serve a purpose of saving  your investments. The transaction facility to this account is so flexible that you can make innumerable transactions in a day.

·        The banks don’t pay any interest on your  amount but it charges certain service charges on such accounts.

SAVINGS ACCOUNT:

·         Savings Accounts are the most popular kind of individual accounts for personal purpose of saving your investments and getting interest rates.

·         Savings account provides cheque facility along with flexibility for deposit and withdrawal of f unds from your account.

·         At present Interest rate is  4% .

FIXED DEPOSIT:

·         Fixed Deposits popularly known as FD are available at various schemes with a tenure from 7 days to 10 years.

·         This account is specially designed who want to deposit their savings for a long term to gain good rate of interest.

·         The interest rate on these accounts varies from bank to bank.

·         Generally ,   interest rate is between 7 % p.a.  to 9 % p.a.

RECURRING DEPOSIT:

·         Recurring deposits also known as RD accounts who wish to invest an average amount of their savings on a monthly basis.

·         These accounts gain interest on the amount available in your account.

Repo Rate and Reverse Repo rates in Indian Banking

Repo Rate :-

• The rate at which banks borrow money from the RBI by selling their surplus government securities to RBI is known as "Repo Rate.
• Repo Rate is the rate at which RBI lends money to commercial banks against the pledge of government securities whenever the banks are in need of funds to meet their day-to-day obligations.
• Banks enter into an agreement with the RBI to repurchase the same pledged government securities at a future date at a pre-determined price. RBI manages this repo rate which is the cost of credit for the bank.
• If the repo rate is low then banks can charge lower interest rates on the loans taken by us. 

Reverse Repo Rate :-

• Reverse repo rate is the rate of interest offered by RBI, when banks deposit their surplus funds with the RBI for short periods.
• When banks have surplus funds but have no lending (or) investment options, they deposit such funds with RBI. Banks earn interest on such funds.

1. Present   Repo Rate :- 6.25 %
2. Present  Reverse Repo Rate :- 5.75 %

CRR and SLR in Indian Banking

CRR

CRR means Cash Reserve Ratio  which  is the  percentage  of minimum amount of cash,  the banks have to keep in Current Account of Reserve Bank of India.

CRR at Present :-  4%

SLR

SLR  means  Statutory Liquidity Ratio which  is the  percentage of minimum  cash the banks have to invest  government securities or bonds that are  specified by RBI from time to time.

SLR  at Present :  20.5%

Both SLR and  CRR are  quantitative credit controls  used by RBI.

Most Useful websites for CA Students.

Most  Useful websites for CA Students.

Links / URL's

1.https://www.icai.org/

2.http://www.sebi.gov.in/sebiweb/

3.https://www.rbi.org.in/

4.http://www.cbec.gov.in/

5.http://www.incometaxindia.gov.in/Pages/default.aspx

6.https://www.nseindia.com/

7.http://www.mca.gov.in/

8.https://www.taxmann.com/

9.http://taxguru.in/

10.http://www.caclubindia.com/

List of Railway Headquarters in India.

1	Central Railway	Mumbai	Bhusawal, Nagpur, Mumbai(CST), Solapur,Pune
2	Eastern Railway	Kolkata	Malda, Howarh, Sealdah, Asansol
3	Northern Railway	New Delhi	Ambala, Ferozpur, Lucknow, Moradabad, Delhi
4	North Eastern Railway	Gorakhpur	Lucknow, Varanasi, Izatnagar
5	Northeast Frontier Railway	Guwahati	Katihar, Lumding,Tinsukhia, Alipurduar, Rangiya
6	Southern Railway	Chennai	Chennai, Madurai, Palghat,Trichy, Trivandrum
7	South Central Railway	Secunderabad	Secunderabad, Hyderabad, Guntakal, Vijaywada, Guntur, Nanded
8	South Eastern Railway	Kolkata	Kharagpur, Chakradharpur, Adra, Ranchi
9	Western Railway	Mumbai	Bhavnagar, Mumbai Central, Ratlam, Rajkot, Vadodara, Ahemdabad
10	East Central Railway	Hajipur	Danapur, Dhanbad,Sonepur, Mughalsarai, Samastipur
11	East Coast Railway	Bhubaneswar	Khurda Road, Waltair, Sambalpur
12	North Central Railway	Allahabad	Allahabad, Jhansi, Agra
13	North Western Railway	Jaipur	Bikaner, Jodhpur, Jaipur, Ajmer
14	South East Central Railway	Bilaspur	Nagpur, Bilaspur, Raipur
15	South Western Railway	Hubli	Bangalore, Mysore, Hubli
16	West Central Railway	Jabalpur	Jabalpur, Bhopal, Kot

Nationalised banks in India

Nationalised banks in India 

1.            Allahabad Bank

2.            Andhra Bank

3.            Bank of India

4.            Bank of Baroda

5.            Bank of Maharashtra

6.            Canara Bank

7.            Central Bank of India

8.            Corporation Bank

9.            Dena Bank

10.          Indian Bank

11.          Indian Overseas Bank

12.          Oriental Bank of Commerce

13.          Punjab & Sindh Bank

14.          Punjab National Bank

15.          Syndicate Bank

16.          UCO Bank

17.          Union Bank of India

18.          United Bank of India

19.          Vijaya Bank

20.        Under State Bank of India.

•     State Bank of Hyderabad
•     State Bank of India
•     State Bank of Mysore
•     State Bank of Patiala
•     State Bank of Travancore

Other public sector banks

1.            Bharatiya Mahila Bank

N.T.Rama Rao 's Life

N.T Rama Rao.

Nandamuri Taraka Rama Rao (28 May 1923 – 18 January 1996), popularly known as NTR, was an Indian actor, filmmaker and politician who served as Chief Minister of Andhra Pradesh for seven years over three terms.

POLITICS :-

NTR has received three National Film Awards for co-producing Thodu Dongalu (1954) and Seetharama Kalyanam (1960) under National Art Theater, Madras, and directing Varakatnam (1970), NTR has received the erstwhile Rashtrapati Awards for his performance(s) in the films Raju Peda (1954), and Lava Kusa (1963). He garnered the Nandi Award for Best Actor for Kodalu Diddina Kapuram in 1970, and the Inaugural Filmfare Award for Best Actor – Telugu in 1972 for Badi Panthulu.

FILM CAREER :-

NTR made his debut as an actor in a Telugu social film Mana Desam, directed by L. V. Prasad in 1949. He gained popularity in the 1950s when he became well known for his portrayals of Hindu deities, especially Krishna and Rama, roles which have made him a "messiah of the masses". He later became known for portraying antagonistic characters and Robin Hood-esque hero characters in films. In total he starred in 300 films, and has become one of the most prominent figures in the history of Telugu cinema. He was voted 'Greatest Indian Actor of All Time' in a CNN-IBN national poll conducted in 2013 on the occasion of the Centenary of Indian Cinema.

He has starred in films like Patala Bhairavi (1951), which premiered at the first India International Film Festival, held in Mumbai on 24 January 1952, Malliswari (1951), premiered at Asia Pacific Film Festival, the enduring classics Mayabazar (1957), and Nartanasala (1963), featured at Afro Asian film festival in Jakarta. All the four films were included in CNN-IBN's list of hundred greatest Indian films of all time.

He co-produced, Ummadi Kutumbam nominated by Film Federation of India as one of its entries to the 1968 Moscow Film Festival. Besides Telugu, he has also acted in a few Tamil films. Widely recognised for his portrayal of mythological characters, NTR was one of the leading method actors of Indian cinema, He was referred to in the media as Viswa Vikhyatha Nata Sarvabhouma. He was awarded the Padma Shri by the Government of India in 1968, recognizing his contribution to Indian cinema.

CA COURSE DETAILS in INDIA.

CA COURSE IN INDIA

Here details about ca course eligibility Information

·For CPT 10+2 qualification is needed.

·Integrated Professional Competence Examination candidate has to qualify in CPT.

·Graduate / post graduates in commerce with 55%, other graduates or post graduates with 60% can also apply.

Integrated Professional Competence Course Examination Eligibility

Students who are qualified in CPT, graduate / post graduates in commerce with 55%, other graduates or post graduates with 60% can apply. Candidate has to register 9 months before the exam. After that student has to complete 100 hours of Information Technology Training.

CA Course Requirements

Below is the procedure to become a chartered accountant. They are

1.    Common Proficiency Test

2.    Integrated Professional Competence Course

3.    Three years Article ship / Training under a Practicing Chartered accountant

4.    CA Final

Below is the detailed and simply understandable explanation about procedure to become a ca.

CPT Registration Online:

After passing 10^th everyone is searching for ca course information. Here Registration for CPT course is important. 60 days before the first day of the month in which exam takes place. This time is important for common proficiency test online registration.

Chartered Accountant registration

Appear CPT Exam

Student can appear for chartered accountant course after 12^th by registering and appearing for CPT. Student need to wait at least 60 days after CPT registration. Students are eligible to appear the june/December exams if they registered before 1^st April or 1stoctober.

IPCC Registration

Candidate can register for IPCC after passing 10+2 and CPT exam. They need to register before 9months to the first day in the month exam is held.

ITT and Orientation

Complete 100 hours of ITT. Orientation and Information Technology training are to be completed before article ship. These ITT and Orientation can be completed at any time before article ship.

Appear and Pass IPCC

You can appear both groups of IPCE or can appear Group 1 only and later appear group 2.

Chartered Accountant Article ship Registration

After passing IPCE Group 1 or both groups student can register for article ship with practicing chartered accountant for a period of 3 years.

Register for CA Final Course

Attend Chartered Accountancy Final examination during last six months of article ship and pass CA final exams of both groups.

Article ship and GMCS completion

Complete 3 years article ship and GMCS (15 days).

Enroll as a Member

After successfully enrolling you are the professional chartered accountant.

CA Course Syllabus

See the subjects and their marks below.

CPT Subjects and Qualifying Details: (old)

The common proficiency test has four papers. Exam will be in objective type and conducted twice a year in June and December. You can see the ca CPT results in this site when they are released. The Four subjects and exam of CPT details are there in the below table.

The examination will be conducted for 200 marks in objective manner. To qualify in the exam candidate have to secure at least 100 marks i.e 50 % marks in the exam. For every wrong answer 0.25 negative marks will be there and 0 marks for un answered questions.

Section	Subjects	Marks
Section A	Fundamentals of Accounting	60
Section B	Mercantile Laws	40
Section C	General Economics	50
Section D	Quantitative Aptitude	50

CA Foundation Course Details according to CA New syllabus 2016

From 2016 CPT course will be called as CA Foundation course. It will have six subjects i.e two subjects are added to previous course. The two new subjects are Business communication and General English. Six subjects of CA foundation course Details.

Paper	Subject	Marks
Paper 1	Principles & Practices of Accounting	100
Paper 2	Business Mathematics & Logical Reasoning and Statistics	100
Paper 3	Mercantile Law & General English	100
Paper 4	Business Economics and Business & Commercial Knowledge	100

CA Inter Syllabus 2016

There are 2 groups in IPCC and eight subjects are there passing group 1 is necessary for the commencement of the article ship.

IPCC Syllabus:

Group	Paper	Subject	Marks
Group 1	Paper 1	Accounting	100
	Paper 2	Company Laws & Other Laws	100
	Paper 3	Cost Accounting	100
	Paper 4	Direct Tax Laws & Indirect Tax Laws	100
Group 2	Paper 5	Advanced Accounting	100
	Paper 6	Auditing & Assurance	100
	Paper 7	Financial Management & Business Economic Environment	100
	Paper 8	Information Technology & Strategic Management	100

Chartered Accountant Final Course Syllabus 2016:

Group	Paper	Subject	Marks
Group 1	Paper-1	Financial Reporting	100
	Paper-2	Strategic Financial Management	100
	Paper-3	Advanced auditing and professional ethics	100
	Paper-4	Corporate Laws and Other Economic Laws	100
Group 2	Paper-5	Advanced Management Accounting.	100
	Paper-6	Financial Services & Capital Markets and Information systems control & Audit	100
	Paper-7	Advanced Tax Laws & International Taxation	100
	Paper-8	Advanced Indirect Tax Laws	100

Chartered Accountant Qualification

Below section explains about ca qualification requirements to become a member and called as a professional chartered accountant.

Foundation Qualification Details

See latest post about ca foundation course for more details about foundation qualifying details.

IPCC Qualifying Details

To qualify 40% in each subject is required and aggregate of 55% is required. You can see ca IPCC results in this site when they are released.

Final Qualifying Details

To qualify 40% in each subject is required and aggregate of 50% is required. After passing Chartered Accountancy Final course enroll as a member and candidate is designated as “Chartered Accountant”.

 Source :-http://www.icai.org/