Blogs on Current Account

The blog explains the implications of a dishonoured cheque, including potential legal consequences, penalties, and alternatives to avoid such issues. It outlines the reasons cheques might bounce, the legal repercussions for the issuer, and practical tips for avoiding dishonour charges through digital banking and proper cheque management.

The blog explains the tax implications of holding a current account

The blog outlines the various documents required to open a Current Account, detailing the types of proof needed for identity, address, business existence, and specific requirements for NRIs, LLPs, and companies.

The blog provides a detailed guide on opening a current account, highlighting its benefits and outlining the steps involved, from checking eligibility to submitting required documents and completing the application process.

The blog explains the basics of GST, including its purpose and registration requirements, and outlines its benefits such as simplified tax structures and increased transparency. It also clarifies that while GST affects goods and services transactions, it does not apply to the operation of a Current Account, which is essential for business transactions.

The blog provides an overview of current accounts, highlighting their use for businesses, features like no interest accrual, and benefits such as unlimited transactions, flexible deposits, and overdraft facilities. It explains how current accounts cater to business needs by offering higher transaction limits and customised options than savings accounts.

This blog highlights six key benefits of a Current Account for small businesses, including ease of daily transactions, high transaction limits, transaction security, bulk payment services, foreign transaction capabilities, and credit rating enhancement.

The blog explains the different types of Current Accounts available, including Premium, Standard, Packaged, Foreign Currency, and Single Column Cash Book Accounts, each tailored to various business needs and transaction requirements.

The blog outlines various charges associated with Current Accounts, including non-maintenance fees, charges for account facilities, bulk transactions, cheque handling, and miscellaneous services.

This blog explains the overdraft facility in a Current Account, detailing how it allows withdrawals beyond the account balance, its usage, repayment terms, benefits for cash flow management, and associated costs and RBI guidelines.