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Bank Deposits

Know Your Client guidelines

It is essential for banks and other financial institutions to conduct thorough due diligence on their investors. This involves verifying the identity of the client and ensuring that there is no potential for money laundering. This process is crucial in maintaining the integrity of the financial system and protecting the interests of both the institution and its clients.

Simple Interest

In the world of finance, one of the fundamental concepts is simple interest. It involves multiplying the interest rate by the principal amount and the number of periods. Unl...

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Deposit time slabs

A term deposit is an investment option offered by banks for a specified period of time. This period can range from as short as 14 days to as long as 5 years. As a depositor,...

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Non-Resident Accounts

Welcome to today's lesson on non-resident bank accounts. These are accounts held by Indian nationals and Persons of Indian Origin residing abroad, foreign nationals, and for...

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Tax Deducted at Source

In the world of finance, there is a form of payment known as tax withholding. This method involves deducting the applicable tax rate from the total amount of interest or pay...

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