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Unique Document Identification Number (UDIN) For Checking Authenticity of CA-Certified Documents


Unique Document Identification Number (UDIN)  is being introduced by CA Institute for Checking Authenticity of CA-Certified Documents. Using UDIN, Banks and other regulators like RBI, SEBI etc, will now have a mechanism to check the authenticity of various documents certified by practising chartered accountants. The new system has gone live from July 1 UDIN is introduced to curb the menace of forged certifications of ...

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Bank’s Legal Notice Served Through WhatsApp is Valid For Loan Recovery


A big relief for lenders and bad news for defaulter of  loan or credit card payment or someone who are evading the bank by not receiving their calls or changing your residence ? –  Bombay High Court has ruled that the Legal notice or messages sent through WhatsApp messaging app are valid legal evidence under law, and the blue tick ...

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How To Calculate Security Coverage Ratio ?


Security Coverage Ratio  – This is the most required terminology in the field of loan assessment. Majority of loan inclusive of Term loan and SODH limits are assessed based on this formula. Security or asset coverage ratio is the measurement tools for company debt obligations against its assets. There are many bankers which define the security coverage ratio as the ...

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How Does RBI Rate Cut Impact EMI of Loan ?

Lower Interest Rate

How Does RBI Rate Cut Impact EMI of Loan ? – Reserve Bank of India has cut the repo rate in their bi monthly review for year 2016-17 by 0.50% to 6.50% present. After the reduction of Repo Rate many of the leading commercial banks in India like SBI, Syndicate Bank, ICICI Bank, HDFC bank, PNB, Bank of India, Bank of ...

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How To Calculate Loan Monthly Reducing Balances Interest?

How To Calculate Loan Monthly Reducing Balances Interest? – Number of time lender promote their loan products quoting Reducing Balance EMI. This is the method used by Public Sector Bank for various loan products mainly MSME Business Loan, Overdaft, Housing loan, Credit Cards etc. What exactly the Monthly Reducing Balance Method of EMI calculation ? Calculation of Interest Payable Per ...

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How To Calculate NIM (Net Interest Margin)?

NIM calculation

The Net Interest Margin is the difference of Interest Income generated through various sources and expenses made out on interest to lenders on various items like deposit etc. Get Daily Updates On Banking, Enter your email address: For the latest Banking updates, follow AskBankings on Twitter, Facebook, and subscribe to our YouTube channel

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How Does accepting OTS effect on Credit History ?

One Time Settlement Scheme , OTS effect on Credit History of an Individual future credit history : Just as all information about credit availed (amount availed, payments, defaults etc) is reported to Credit Information Companies (CICs), the fact that the borrower has closed a loan account after accepting an OTS is also reported to CICs. The bank is required to ...

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When will bank return the securities after closure of loan ?

How much time bank would take in returning the title deeds /securities after closure of loan. Banks should return all the securities / documents/title deeds to mortgaged property within 15 days of the repayment of all dues agreed to or contracted. If any right to set off is to be exercised for any other claim, the bank will give due ...

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