Question
Under the Payment and Settlements System Act, Reserve
Bank can impose a penalty of ……..on the person contravening or committing default where the amount is quantifiableSolution
Section 30 Power of Reserve Bank to impose fines.—(1) Notwithstanding anything contained in section 26, if a contravention or default of the nature referred to in sub-section (2) or sub-section (6) of section 26, as the case may be, the Reserve Bank may impose on the person contravening or committing default a penalty not exceeding five lakh rupees or twice the amount involved in such contravention or default where such amount is quantifiable, whichever is more, and where such contravention or default is a continuing one, a further penalty which may extend to twenty-five thousand rupees for every day after the first during which the contravention or default continues.
An asset is purchased for ₹10,00,000. Salvage value is ₹1,00,000. Useful life is 5 years. Using WDV @ 10%, what is the depreciation in year 3?
Which accounting standard provides guidance on how to account for foreign currency transactions and the effects of changes in foreign exchange rates on...
Which of the following is recognized as a Credit Information Company (CIC) in India, authorized by RBI to provide credit scores on individuals?
A manufacturing company reports current assets of ₹8,50,000 and current liabilities of ₹3,40,000 as of 31 March 2025. The assets include ₹1,00,000...
FIPB stands for:
 IRR would favour a project proposal which has _________.
If Selling Price is 9 per unit, variable cost is 5 per unit and fixed cost is 100000, what is the Margin of safety in Qty if the budgeted units are 1,00...
Byron Ltd reported 32000 in earnings during the current financial year. The total shares outstanding are 40000 at a market price of 18 per share. What i...
A company has an ongoing CSR project that remains unspent at year-end. What is the correct treatment?
The Companies Act 2013, contains ________.