· On-tap licensing means that the window for getting a bank license from RBI is open throughout the year. Earlier, RBI used to invite applications for giving bank licenses, and prospective players submitted their applications within a fixed time-frame as prescribed by RBI. The guidelines for on-tap licensing of Universal Banks in the private sector were issued on August 01, 2016 and that for Small Finance Banks on December 05, 2019. 11 entities had applied for on-tap bank licences since the guidelines were released by the RBI, but none approved till now. · The Reserve Bank of India (RBI) rejected applications for on-tap bank licences of six firms —four of which applied for universal bank licence and two for small finance bank. · The applications rejected by the RBI include Flipkart founder Sachin Bansal’s Chaitanya India Fin Credit Private Limited which has applied for a universal bank license. · Bansal is the managing director (MD) and chief executive officer (CEO) of Chaitanya India Fin. · Last year, the Enforcement Directorate served a show-cause notice to Bansal for alleged violation of FDI policy. · 11 entities had applied for on-tap bank licences since the guidelines were released by the RBI. The remaining 5 applications are under examination.
In costing, which of the following standards are also known as the past performance standards?
Which of the following is a technique of inventory management?
The application of the principles of accounting and financial management to create, protect, preserve and increase value for stakeholders is known as __...
Which of the following do not fall under the scope of Cost Accounting?
If 8000 units are introduced in a process and normal loss is 5% of input, Closing WIP is 1000 units which is 60% complete and 6600 units are transferred...
In which of the following industry, batch costing will be used?
Which of the following is not a principle of Kaizen Costing?
The process of accounting for cost which begins with the recording of income and expenditure or the bases on which they are calculated and ends with the...
If cost of equity is 15% with weight 1/3 and cost of debt is 10% with weight 2/3, calculate weighted average cost of capital. Rate of tax is 32%?
Irrelevant and historical cost is _______