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https://www.fresherslive.com/current-affairs/banking-finance-current-affairs For banks carrying out fund transfer electronically IFSC code is made use of to send or route messages properly to the particular branches of any specific bank. IFSC code is used in electronic fund transfer. IFSC code is printed cheque book, Passbook. You can also find IFSC code for all the banks through web. You can find more details in official website of appropriate bank. The IFSC code finds its use in Online Banking Transactions. These online banking transactions may include payment of ticket booking, electricity bill payment, water and other bills through online. Bankifsccode is the best place to find all banks IFSC in online.
At present, we are very close to financial year end. This is the right time to turn back the way which you walk in 2015. If you want to maintain your financial status well, you have to calculate the income and expenditure in 2015.Nearly 75%of people in India are middle class, who are struggling a lot to fulfill their basic needs. At this situation how can we save money for our future? If this is your question, don’t worry !! There are so many ways to save money when you have low income. In this article, I have picked 5 simple and effective ways to save money.
Find Your Due
When we are starting to save, we have to analysis for what we are spending much more money? If your goal is to save money when your earning is low, you have to find and fight with high-interest debt first. This is the main reason why most of the people can’t save in low income. If you find a solution for this, magically you can find more money in your pocket. Purchase Weekly When your annual income is low, first you have to focus on purchasing. Shop smarter- I’m not saying that hold your hands tight while shopping, I’m just saying don’t open wider. Purchasing weekly once is the best way to save more money, buy low price, multiple use products. Part Time Job If your regular job can’t fulfill your basic needs, take a part time job to earn more money and increase your annual income. Its really very tough to work part time in some other place, better find a job to work from your home. There are so many online works are available in web, these will make you less stressful and save money. Keep The Change This is old fashion, but can help to save money. Collect the changes in your pockets, changes in car tray and save it in the jar. It is better to save atleast 10% of your withdrawal amount every time and make your piggy bank full. Live Within Your Means Best advice but no one wants to hear. If you want to save money don’t make the situation harder by keeping up with the Joneses. Be simple as much as possible and don’t compare you with anyone. Hope that this guide will help you a lot. Get more information aboutAll bank IFSC code, MICR code, SWIFT code and address.
What Is Bank Audit Process In India?
Auditing is the process of verify accounts, documents and transactions to ensure correctness and legality. Auditing is conducted by internal or external agencies members called auditor. Procedure Involved In Bank Auditing In Bank Auditing, the bank auditors take the responsibility of reviewing the banks and other financial works. The main responsibility of the bank auditors is that they should focus more on completeness, accuracy in all the financial activities. Classification Of Bank Audit
1) Concurrent Audit
2) Information system Audit / Internal Audit 3) Statutory Audit Concurrent Audit Concurrent Audit is defined as that examination of transactions happening and when it happens. It is continuous work conducted by external auditor on monthly basic. Daily based transaction also examined in concurrent auditing. For banks, they are more number of daily transaction, documentation and formality have to examine and maintain in daily manner. Through concurrent audit we can easily find irregularities or non conformities. It helps to avoid piling up of irregularities which will become huge problem at year end auditing. Concurrent auditor check the transaction, KYC norm compliance, checking new loan documents, income leakage and regulation in daily manner. Concurrent auditing helps the branch to rectify problems and work smoothly. Information system Audit / Internal Audit Many organizations has internal audit along with concurrent audit. Internal audit is auditing the records in daily or monthly manner from its own organization. The internal auditor analyzes the record and visits those branches regularly and maintains the report of when the auditing carryout. Internal auditing is focused for the specific area branches or cover every branches it’s depends on the auditing program. Mostly Auditing is conducted by the bank itself. In the digitalized banking sector-ATM, core banking, mobile banking, internet banking, it is necessity to have periodic report of “how the system working”. Statutory Audit For banking sector, it is mandatory to maintain Statutory Audit. These auditing is conducted by Statutory Auditor. This auditing is conducting at the very last day of march or starting of April for all branches of all bank. External Audit This auditing is directly under control of RBI (Reserve Bank Of India). And statutory auditor is appointed by RBI in association with ICAI. By this record, RBI has maintaining Indian Bank Details every year. In statutory audit, they won’t look at nitty-gritties banking transaction. They rely on the test checking form and concurrent report. The bank auditing is very much important for process which is undertaken by internal and external auditor. Warm Welcome to all the readers of the blog. The upcoming blog posts going to cover various amazing concepts related to banking. Hope you will enjoy the stuff a lot!
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