Business

  I deal with thousands of clients. Whenever I discuss about banking service (irrespective of the profile, age, resident or non-resident) most of them have one thing to say in common – ‘the quality of bank service is very bad’. This statement holds good for all banks be it nationalized …

  The Ministry of Corporate Affairs vide its circular No 40/2014 dtd 15.10.2014 has extended the due date for filing the Forms under Company law Settlement Scheme 2014 for filing the backlog Annual Return forms from 15th October 2014 to 15th November 2014.   This extension has been given by …

  Requirement – Those who wish to import or export in India have to compulsorily obtain Import Export Code (IEC). Director General of Foreign Trade (DGFT), Ministry of Commerce Government of India allots this number.   PAN based Code – Only one IEC would be issued against a single PAN. …

  For the purpose of this article, wherever I use the word ‘Service Provider’ it includes the people who supply goods or services and the word ‘Customer’ includes the people who purchase goods or services for business.   Customer – In his best interests, it is advisable for him to …

  Mr. Anish and Mr. Naveen, middle aged Software professionals came to our office to set up their dream venture in Feb 2013. Both of them chose to do their own venture and gaveup cozy corporate jobs. When they ran their business model presentation, I was very excited about their …

  The Government could have avoided charging the customers for ATM withdrawals. First of all, only 17% of the Indian population is using banking facilities. Any move to improve higher utilization of banks would have been a better idea.   ATM Usage – Cash withdrawal from Savings Bank account through …

Good news for employees – The Employees Provident Fund Organization (EPFO) has hiked the minimum salary limit to Rs. 15,000 from Rs. 6,500. The changed rules will be applicable from 1st September 2014.   What it means to employees? Suppose the basic salary of an employee is, say, Rs. 15,000. …

I often seen many Companies have not filed their Annual Returns and Balance sheet with Registrar of Companies for several years, especially startups have created company and not done anything other than registering a Company. As the delay increases, the Ministry of Corporate Affairs (MCA) includes in defaulter list and …

During my 35 years of experience in Insurance industry, I have come across many cases of cheating by the employees. Recently, I came to know about another case. One of the companies in Bangalore had transferred goods worth Rs.40 lakhs to their Branch at Mumbai. The manager in charge at …