On the dishonour of a cheque, one can file a suit for recovery of the cheque amount along with the cost & interest under order XXXVII of Code of Civil Procedure 1908 (which is a summary procedure and) can also file a Criminal Complaint u/s 138 of Negotiable Instrument Act for punishment to the signatory of the cheque for haring committed an offence. However, before filing the said complaint a statutory notice is liable to be given to the other party.

It is a direct tax that will be levied on sales and purchases of capital assets such as Shares, stakes, even costlier items which won’t have depreciation such as monuments, paintings.

Fiscal Consolidation refers to the policies undertaken by Governments (national and sub-national levels) to reduce their deficits and accumulation of debt stock. Key deficits of government are the revenue deficit and the fiscal deficit. Our India is following under RBI, a perfect measure by FRBM act (fiscal responsibility and budgetary management act) 2003.

Basel III framework is based on 3 pillars including

• Pillar 1: Minimum capital standards,
• Pillar 2: Supervisory review
• Pillar 3: Market discipline.

Visa Card- A credit, debit or prepaid card branded by Visa Inc., a major payments technology company. Visa cards are available to individual and business consumers with excellent, good, poor or no credit. Each card has different terms that reflect the consumer’s credit worthiness.

A grace period is usually the only a feature of a loan on which interest is calculated monthly, if it is calculated at all. Under some loan contracts, payments outstanding during grace periods are interest free, but the majority have interest compounding during the grace period. Be sure to check your loan contract for the specifics on any grace periods.

Credit cards for example, on which interest is calculated daily, do not have any grace periods.

A Certificate of Deposit in India can be issue by: All scheduled commercial banks excluding Regional Rural Banks (RRBs) and Local Area Banks (LABs) Select All India Financial Institutions permitted by RBI

Commercial paper is an unsecured, short-term loan issued by a corporation, typically for financing accounts receivable and inventories. CP can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. However, the maturity date of the CP should not go beyond the date up to which the credit rating of the issuer is valid.

Securities Exchange Board of India (SEBI) was set up in 1988 to regulate the functions of securities market. SEBI promotes orderly and healthy development in the stock market but initially SEBI was not able to exercise complete control over the stock market transactions.

Speed Clearing refers to collection of outstation cheques (a cheque drawn on non-local bank branch) through the local clearing. It facilitates collection of cheques drawn on outstation core-banking-enabled branches of banks, if they have a net-worked branch locally.