Quasi-judicial bodies are institutes which have powers analogous to that of the law imposing bodies but these are not courts.… Continue reading Quasi-Judicial Bodies: Establishment, Functions

Financial Inclusion in India Financial Inclusion is about The broadening of financial services to those people who do not have… Continue reading Financial Inclusion in India: Need and future; PMJDY; Payment Banks and Small Banks

A regulatory body also called regulatory agency is a public authority or a government agency which is accountable for exercising… Continue reading Regulatory Bodies: Establishment, Functions, Examples

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

Non-Performing Assets An NPA is a loan or advance for which the principle or interest payment remained overdue for a… Continue reading Problem of Non Performing Assets in India

Banking Sector Reforms First Narasimhan Committee Report – 1991 To promote the healthy development of the financial sector, the Narasimhan… Continue reading Banking Sector Reforms in India: Narasimhan Committee 1&2, Nachiket Mor Committee, P J Nayak Committee

Statutory bodies are established by acts which Parliament and State Legislatures can pass. These bodies are entities shaped by an… Continue reading Statutory Bodies: Establishment, Functions, Examples

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

Development Finance Institutions The Need of DFIs Classification of DFIs All India DFIs Special DFIs Investment Institutions Refinance Institutions State… Continue reading Development Finance Institutions: IFCI, ICICI, SIDBI, IDBI, UTI, LIC, GIC

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

India embraced an economic model which has the features of both free market capitalism and socialism. The policy makers called… Continue reading The Role of the Government in the Economy

Balance Budget versus Unbalanced Budget Balanced Budget Unbalanced Budget A balanced budget is a situation, in which estimated revenue of… Continue reading Types of Budgets in India

Revenue Account The revenue account shows the current receipts of the government and the expenditure that can be met from… Continue reading The Government Budget: Revenue Budget, Capital Budget, Government Deficits

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

The Summary of India’s Tax Reforms Income Tax In 1973-74, there were 11 income tax slabs, ranging from 10 per… Continue reading Tax Reforms in India

Key Concepts Relating to Taxation Tax Incidence The key to imposing the tax is who bears its burden. If the… Continue reading Concept Related to Taxation: Tax Incidence, Tax Evasion, Laffer Curve, CESS and Surcharge