A regulatory body also called regulatory agency is a public authority or a government agency which is accountable…

Non-Banking Financial Companies A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged…

Non-Performing Assets An NPA is a loan or advance for which the principle or interest payment remained overdue…

Banking Sector Reforms First Narasimhan Committee Report – 1991 To promote the healthy development of the financial sector,…

Statutory bodies are established by acts which Parliament and State Legislatures can pass. These bodies are entities shaped…

Lead Bank Scheme After the Nationalisation of the commercial Banks, the government took the initiative for extending banking…

Development Finance Institutions The Need of DFIs Classification of DFIs All India DFIs Special DFIs Investment Institutions Refinance…

The budgetary procedure in India involves four different operations that are Preparation of the budget Enactment of the…

India embraced an economic model which has the features of both free market capitalism and socialism. The policy…

Balance Budget versus Unbalanced Budget Balanced Budget Unbalanced Budget A balanced budget is a situation, in which estimated…

Revenue Account The revenue account shows the current receipts of the government and the expenditure that can be…

Goods and Services Tax The Goods and Services Tax (GST), the biggest reform in India’s indirect tax structure…

The Summary of India’s Tax Reforms Income Tax In 1973-74, there were 11 income tax slabs, ranging from…

Key Concepts Relating to Taxation Tax Incidence The key to imposing the tax is who bears its burden….

Special Category Status to States Various Chief Ministers across the nation have been demanding special status for their…

The Indian Constitution has elaborate provisions regarding the distribution of revenues between the Union and the States. Article…