Category: Commerce Notes PPT

Exports, like the import system, are held to be one of the major components of international trade. Moreover, after the LPG initiative, exporting and importing have heightened its pace of development. Exporting done by the country is bound to many formalities both legal and compulsory made by the exported nation.

In this section, we will know about these formalities that stimulate domestic economic activity.  The business exports its goods and services to other nations by adhering to basic principles and law and thus this is very important in the study of export and import fields.

Export Procedure

In general, an export procedure initiates with the willingness to send the goods and services to other foreign nations at some price, these procedures of export are stated below:

The Indian exporter will receive the order either directly from the importer or through the indent houses.

After receiving the order from the importer, the Indian exporter is required to obtain an export license from the Government of India, for this the exporter needs to apply to the Export Trade Control Authority and get a valid license for this.

The exporter then asks the importer for the letter of credit, if the importer does not send the letter of credit along with the order.

The rate at which the home currency can be exchanged with the foreign currency is then fixed. The foreign exchange rate fluctuates from time to time so they need to fix the rate of exchange.

As per the Foreign Exchange Regulation Act of India (FERA), every exporter of the goods is required to furnish a declaration in the form prescribed in a manner in the Act.

The exporter should make the required arrangements to execute the order:

Then the formalities are to be performed by the agent which includes obtaining a permit from the customs department, preparing the shipping bill, paying the dues after disclosing the required details of the product being exported. 

The Indian exporter of the goods presents the receipt copy to the shipping company and issues the Bill of Lading. 

The Indian exporter sends shipment advice to the importer of the goods to inform him about the shipment of the goods. 

The Indian exporter needs to confirm that he possesses all the necessary shipping documents.

The exporter of the goods needs to comply with banking formalities after submission of the bill of exchange.

Export Procedure and Documentation

In the previous section, we have learned about the export procedure formalities here we will know about the documentation necessary – 

The first step in the shipping documentation process is when someone urges them to buy products. 

After you receive the inquiry from the buyer, the process is to check their business potentiality to do business with them. 

After screening the buyer, we need to provide the proforma invoice for the transaction. 

The buyer will either reject or accept your proposal thus finalizing the sale. 

Commercial Invoice, Packing List, Certificate of Origin, Shipper’s Letter of Instruction, Bills of Lading all need to be prepared 

Again, the process needs to be run, before the goods ship for export. 

There may be other documents that need to be prepared before exporting the goods.

Documents Required for Exporting

When deciding which documents are necessary for an export procedure, the best place to start is with your overseas customer/importer or a freight forwarder. You may help your customer in clearing items with customs in the target market by gathering precise information. Commonly used expert documents are:

Pro Forma Invoice- The document provides a description of the products, such as Price, quantity, weight, kind, and so on, and is a statement by the seller to provide the customer with the products and services at the given date and price.  

Commercial Invoice- The commercial invoice is a legal document that is exchanged between the seller and the buyer that clearly outlines the items being sold as well as the price the customer is to pay. 

Packing List- This list includes the invoice number, seller, buyer, shipper, carrier, date of shipping, mode of transport, itemized quantity, description, package type, package quantity, total net, and gross weight (in kilograms), packaging markings, and measurements.

Air Waybill- An air waybill is a document that accompanies goods carried by an international air carrier. The paperwork contains complete information about the package and enables tracking.

Export Licenses- A government document that allows the transfer of specified commodities in precise quantities to a specific destination for a defined end-use is known as an export license.

Formalities of Registration and Export Documentation 

Export is a very wide concept with a lot of preparations which is required by an exporter before starting the export business.  

1. Establishing an Organization

2. Opening a Bank Account

3. Obtaining Permanent Account Number (PAN)

4. Obtaining Importer-Exporter Code (IEC) Number

5. Registration cum membership certificate (RCMC)

6. Selection of product

7. Selection of Markets

8. Finding Buyers

9. Sampling

10. Pricing/Costing

11. Negotiation with Buyers

12. Covering Risks through ECGC

Preparation for Executing an Order

The exporter must make the following arrangements in order to carry out the order:

• Appoint a forwarding agent, often known as a custom house agent, to handle customs and other related issues.

Formalities by a Forwarding Agent

The agent must complete the following formalities:

• To the shipping business, agents must provide all needed data about the products to be shipped, such as kind, amount, and weight.

Foreign Exchange Formalities 

Under exchange control laws, an Indian exporter must comply with specific foreign exchange procedures. Every exporter of products is obliged under the Foreign Exchange Regulation Act of India (FERA) to provide a declaration in the form provided in a way. According to the declaration:

To calculate the financial position of a particular organization and to get them accounts at the end of a fiscal year is known as final accounts. A journal is recorded and prepared regularly and transferred to a ledger to get final accounts prepared.

It helps to keep a track of the management and the financial position final account includes four major components which can be listed below as trading account manufacturing account profit and loss account balance sheet.

Final accounts are an essential financial component of any accounting year for every company. Simply put, it is the full and final accounting procedure which is carried out at the end of an accounting year, resulting in the preparation of relevant accounts. It derives reference from the final trial balance, which is itself a reference to the ending balance in every ledger account. The final accounts for all companies must be produced on or by the 31st of March every year as it marks the end of a financial year.

What Constitutes Final Accounts?

The final account of every company comprises the journal entries necessary to complete the accounting books for that specific financial year. Thus, some of the components of any entity’s final accounts are the following:

• Customer billings.

• Allocation of overheads for the following financial year.

• Writing downs of any assets which may be necessary.

• Income tax accruals.

• Wages and any accruals on payroll tax.

• Additional adjustments for obsolete inventory, bad debts or return of goods sold.

• Amortisation and depreciation of asset value.

The final account balance depends on the final trial balance and the financial statements of each year. The importance of final accounts lies in the fact that they help a company analyse its annual financial standing.

What are the Common Constituents of Final Accounts?

Most companies and corporations across the world use primarily 3 types of final accounts:

• Trading account.

• Profit and loss account.

• Balance sheet.

Examples of Final Accounts

The compilation of final accounts must be done at the end of the financial year by book-keepers of an entity. They are subject to audits by either external or internal auditors, who are mostly Chartered Accountants.

It is of utmost importance that the accounts are drawn up in a fair and transparent manner.

Trading Account

For a particular accounting period, the gross profit or gross loss which are obtained by the sale and purchase represents the trading account. This also reflects an overall record of all the activities done by the firm.

This is often the first final account to be tabulated. This account is used to determine the gross profit or the gross loss that is incurred by a corporation at the end of a financial year. On the left-hand side (LHS), all debited sums, including direct purchases, opening stock and direct expenses, are recorded.

A company will have a gross profit scenario when the credit side (RHS or right-hand side) is greater than the value represented on the LHS. The gross profit is later transferred to the credit side of a profit and loss account, which is drawn up after the completion of a trading account.

A company will have a gross loss scenario when the debit side is greater than the credit side or when LHS > RHS. Should there be a gross loss incurred, it will then be transmitted to the debit side of the P & L account.

Here is a Sample Trading Account

Profit and Loss Account

As the name suggests the profit and loss account gives a track of all the profit or any indirect expenses that the form accepts during that particular accounting year. Keeping track of your success and flaws helps a lot when working for or as a firm.

Once a trading account is finished, the profit and loss account is readied. This final account is also known as an income statement in some companies. It is started as soon as the gross profit or gross loss from the table made earlier is transferred.

All indirect expenses, including salary, office and administrative expenses, rent, wages and costs on marketing and advertising, are mentioned on the debit side.

All indirect incomes, including dividends received on shares, interests earned, profits earned on asset sales and recovered debts go to the credit side.

Here is a Sample P & L Account

Balance Sheet

A proper tabular representation of assets (fixed assets+current assets) and the liabilities (long term liability+current liability) which sums the financial position of a business for a specific period of time is termed as a balance sheet.

Since this is, by definition, a sheet of information and not a statement, there are no elements of ‘to’ and ‘by’ as in the other accounts. The balance sheet consists of a company’s total assets, liabilities and capital as on the last day of a financial year.

All LHS elements of a balance sheet are liabilities. All RHS elements of a balance sheet are assets. During Balance Sheet preparations, the liabilities must equal the assets.

Here is a Sample of the Balance Sheet of a Fictitious Company

The Balance Sheet is the most important financial tool for any enterprise to assess its financial position and where it stands for future planning and implementation.

Balance Sheet also helps identify areas where the company is facing hurdles and difficulties. The management can then plan accordingly. With these final accounting examples, you would now be able to better grasp its intricacies. To have a better understanding of final accounts and learn how to prepare them accurately, find more study material with

What is a Manufacturing Account?

When a firm manufactures goods all by itself then manufacturing accounts are prepared. It represents the overall cost of production. The account made during this time period is later moved to a trading account also, to keep the process going on.

The Concept of Income:

In exchange for goods and services, the payment received is called income. Income can be of different forms which include gross income, net income, national income and personal income.

American accounting association gives the most authentic definition of income as stated below

“The realized net income of an enterprise measures its effectiveness as an operative unit and is the change in its net assets arising out of

Final accounts are useful as it provides the final result of any progress. Keeping track of your activity makes your action plans more reliable and flexible. The primary statements are the income statement, balance sheet and statement of cash flows. For example, when somebody is leaving a hotel, then they are provided with a final bill that they owe. Final accounts have a lot of advantages which makes a running policy more reliable and leaves the firm in a remarkable form.

Share is a part of ownership in a company or a business or an organization. A person holding the Shares of the company is an equal owner to the profit and loss incurred by the company. The Companies Act 2013, deals with different types of Shares like equity Shares and preferential Shares. The Forfeiture of Shares is an action taken by the company and its board of directors when the shareholders fail to pay the due on the share.

 

An enterprise forfeits a share if a shareholder fails to meet its buying, holding or selling criteria. It includes numerous requirements like payment of call money, transfer of Shares over a restricted period, or even avoiding selling. Vitally, in the event of Forfeiture of Shares, neither does a member owe any balance on it, nor any profit. Additionally, this share becomes an asset owned by the enterprise that issued it.

 

Forfeiture can happen due to numerous reasons like non-payment of dues, delay in installments, etc. Incidentally, a company is legally allowed to forfeit a share only if they allow such action under their Article of Association.

 

Immediate Impact of Forfeiture of Shares

When a shareholder is unable to pay his/her installment or dues known as the call money, their Shares are forfeited. Consequently, the following results are vital to note while understanding Forfeiture of shared meaning.

1. A concerned shareholder’s personal Shares are canceled and forfeited.

2. Every entry associated with a forfeited stock is converted in their respective accounting records. However, this is not applicable for Shares that are associated with premiums.

3. Amounts called up for these relevant Shares are debited from the relevant share capital account.

 

What are the Accounting Entries for Forfeiture of Shares?

While understanding the procedure of Forfeiture of Shares, it is essential to understand related accounting entries. Typically, companies issue forfeited Shares at premium or par, both being discussed below in detail.

Issued at Par: When Shares issued at par are forfeited, the following actions are taken by the company. It is typically in effect for Forfeitures made due to non-payment of call money despite making calls on Shares and stocks.

• Called-up amounts on these Shares as on this current date of Forfeiture are debited from the relevant share capital account of a company.

• The arrears of allotment and call accounts of these Shares are maintained along with this called-up amount being credited in its relevant account.

The accounting entries for Forfeiture of Shares issued at par are as follows.

 

 

Issued at Premium: During Forfeiture of Shares issued at a premium, there are primarily two options for a company. This depends on the clearance of a security premium amount. Both situations related to this are explained below.

 

In this case, the called-up amount is debited along with its share capital amount from its relevant account. Furthermore, this amount is also directly credited to every relevant account. This includes First call and Final call accounts, Shares allotment which include an amount not received during its process and Forfeited Shares which has a received amount with a lower premium.

 

 

Since in this case, the security premium amount is not received, it involves an additional step of crediting this amount. This called-up amount is debited along with its share capital amount to the First call and Final call accounts, Share allotment including its related charges, and finally Forfeited Shares that have a received amount. Additionally, the security premium is also debited from the share capital account.

 

 

Understandably, it is important to note these various types of accounting methods which are relevant in diverse types of situations related to Forfeiture of Shares. It is imperative that students note its various differences and nuances in detail before calculating and making an entry.

 

What is the Accounting Treatment for Forfeiture of Shares?

While accounting entries above have been explained with the Forfeiture of Shares example, it is important to note these accounting treatments mentioned below. Any of these adjustments are immediately in effect while reversing the entries for forfeited Shares.

• The total called-up amount for a forfeited share(s) is debited from its share capital account.

• This total called-up amount for Forfeiture of a share(s) is credited to the relevant share Forfeiture account.

Vitally, these are in effect only when a shareholder or owner is unable to clear their called-up amount. Companies typically provide a notice period before a shareholder’s stocks are forfeited.

 

What is the Effect of Forfeiture of Shares?

The primary effect of Forfeiture of Shares is that a defaulter ceases to be a part-owner of this company whose share has been forfeited due to delay or lack of payment. However, this does not clear a shareholder of associated liabilities. A shareholder is still accountable to pay his/her associated financial liabilities as due on the date of their Forfeiture.

 

The process of forfeiting Shares starts with the company’s secretary, making a list of the defaulters. The secretary places the list in front of the board of directors and they issue instructions to send notice to all the defaulters to pay the call money along with the interest within 14 days. If the defaulters do not pay the due, a second notice is sent to them and if it continues, their Shares are forfeited in the next meeting. 

 

As a vital topic for the commerce curriculum of standards 10 +2, students should also have a clear understanding of concepts associated with the Forfeiture of Shares. It can be furthered with ’s study material and online classes which cover every vital topic of this curriculum. Check them out today!

In the banking system, the central bank is recognized as the most powerful financial institution. It is considered to be an important part of a country’s economic and financial structure. The central bank is an independent authority in charge of supervising, regulating, and stabilizing the country’s monetary and banking framework. The Reserve Bank of India is the country’s central bank. It was founded in 1935. Central banks are in charge of ensuring the country’s Financial Stability and Economic sovereignty.

The meaning of central bank is a financial institution that has the privilege of producing and distributing money (and credit) for a country or a group of countries. The central bank, in the modern economy, is also responsible for regulating member banks and formulating monetary policies. This article will acquaint you with the importance of the central bank with a focus on the functions of the central bank of India.

Features of Central Bank

The basic nature of Central banks is that they are non-market-based and also anti-competitive institutions. The key features of a central bank are:

• Most central banks are centralized though there could be central banks that are not government agencies.

• Even if the central government does not own a central bank, the law establishes and protects the privileges of a central bank.

• It has a legal monopoly status that enables it to issue cash and banknotes as opposed to private commercial banks that can issue only demand liabilities, for example, checking deposits.

 

Functions of Central Bank

A central bank is deemed as the lender of the last resort, as per Hawtrey ( a British economist). The central bank is the organ of the government which controls major financial operations of the government. Through its various operations, the objectives of the central bank are to support the economic policy of a country by influencing the way financial institutions behave.

The central bank of India is RBI or Reserve bank of India and it is a statutory bank. The primary role of RBI in India is to print currency notes and manage the money supply in the economy of India. Let us now delve into the central bank and its functions where we will discuss the role of the central bank in the money market:

• Regulator of Currency- The main function of the central bank is to print currency notes and RBI has the sole right in the country for this operation. RBI prints money of all denominations apart from 1 rupee note. It is the ministry of finance that issues 1 rupee note.

• Banker and Advisor to the Government- This role of the central bank is of a fiscal agent to the government where the RBI keeps the deposits of both central and state governments. It also makes payments on behalf of the government, along with buying and selling foreign currencies. The various functions of a reserve bank as an advisor is to tender useful suggestions to the government regarding monetary policies and other economic matters.

• Custodian of Commercial Banks- As per law, commercial banks need to keep a reserve that is equal to a certain percentage of the NDTL (net demand and time liabilities). These reserves help commercial banks clear cheques by transferring funds from one bank to another. The resee bank facilitates these transactions as it acts as a custodian and lender of cash reserves to the commercial banks.

• Custodian and Manager of Foreign Exchange Reserves- To keep the rates of foreign exchange stable, the reserve bank buys and sells foreign currencies at international prices. If the supply of foreign currency decreases in the economy, RBI sells them at foreign exchanges, and in case of surplus supply, it buys them. RBI is also an official reservoir of foreign currencies and gold. RBI sells gold to monetary authorities of other countries at fixed prices.

• Lender of the Last Resort- The RBI grants accommodation to commercial banks, financial institutions, bill brokers, etc. in the form of collateral advances or re-discounts. This step is taken in times of stress so that the financial structure of the country is saved from collapsing. This lending is done on the basis of government securities, treasury bills, government bonds, etc.

• Controller of Credit- The Reserve bank of India controls the credit created by commercial banks. The credit flow in the country is regulated by means of two methods; quantitative method and qualitative method. RBI applies tight monetary policies when it observes that there is enough supply of money which may cause an inflationary situation. It squeezes the money supply to keep inflation in check.

• Transfer and Settlements- The central bank acts as a “clearinghouse” by providing free services to commercial banks in transferring and settling their mutual claims. Since the RBI holds reserves of commercial banks, it facilitates the clearing of cheques by transferring funds between banks. The principle of bookkeeping is followed in this procedure to make transfer entries into their accounts. There is a separate department operated by the central bank in big cities and trade centers to transfer and settle the claims of one bank on the other.

Importance of Central Bank

The central bank is the heart of the monetary system of any country. A country’s economy is influenced heavily by the actions taken by its central bank. They are the key governing body that ensures the boom and bust cycle of the economy and financial markets does not hamper the direction of the country’s economy. Its central bank ensures the steady and stable growth of the economy of a country.

The Functions of a Central Bank can be discussed as follows:

1. Currency regulator or bank of issue

2. Bank to the government

3. Custodian of Cash reserves

4. Custodian of International currency

5. Lender of last resort

6. Clearing house for transfer and settlement

7. Controller of credit

8. Protecting depositors interests

Examples of Central Banks

Some of the well known central banks across the world are:

1. Federal Reserve (USA)

2. Reserve Bank of India (India)

3. People’s Bank of China (China)

4. Bank of England (UK)

5. European Central Bank (EU or European Union)

To analyse the meaning of government budget, it is first important to learn what the term “budget” denotes. The budget refers to an estimation of expense and revenue generated over a certain period. A budget is evaluated and compiled periodically.  

Budgets can be made for a person’s income and expenses, as well as, that for a business, a group of people, and most importantly, the government.

Following is an analysis of the government budget definition, its components and its structure.

What is the Government Budget?

Government budget refers to an annual financial statement that denotes its anticipated expenditure and expected revenue generation in a fiscal year. It is presented by the government in Lok Sabha at the beginning of every fiscal year, to give an estimate of its expenditure and receipts for the upcoming year.

The term “Annual Financial Statement” of a nation is often used to define government budget. 

How is this Budget Planned?

A government plans its budget by gauging its foreseeable expenditure and planning to raise resources to meet these expenses. 

A country’s government generates revenue primarily through tax collection, interest on loans provided to states, from fines and fees, alongside dividends collected from public sector enterprises.

In turn, government spends on – 

1. Security, defence, staff salaries

2. Providing goods and services to citizens

3. Maintaining law and order

A budget is prepared by keeping these expenditures and revenue into consideration. The Indian constitution mandates this budget for an ensuing financial year to be presented before the Parliament. 

A financial year begins on April 1st and ends on March 31st of the following year.

What are the Components of a Government Budget?

Government budget and its components can be divided into two parts – 

• Capital budget

• Revenue budget

What are these?

• Capital Budget – These refer to receipts that reduce assets for a government and create financial liabilities. Conversely, capital expenditure on a government’s part helps to create assets and reduce liabilities. The capital budget, thus, is an account of these liabilities and assets under the government, which denote a change in total capital.

• Revenue Budget – As its name suggests, the revenue budget refers to revenue receipts generated and expenses met through this revenue. These receipts include both tax and non-tax revenue earned by a government. 

 What are the Objectives of Government Budget?

While rapid economic growth and social justice are primary goals of any policy undertaken by any government, a budget’s general objectives are given below – 

1. Promoting Economic Growth

Economic growth of a country refers to sustained growth in its GDP. The primary objective of the government budget is, thus, to boost GDP growth by promoting balanced economic development and improving people’s standard of living.  That is done by considering general public welfare.

2. Poverty Alleviation and Employment Generation

Social welfare is the most crucial objective of setting a country’s budget. This budget is set in a way to ensure that every Indian can meet basic requirements like housing, clothing, food, alongside basic education and healthcare. Further, a budget is also set by keeping in consideration goals like eradication of poverty by generating employment.

3. Resource Reallocation

Each year, the government allocates more resources to the socially productive sector where there is a shortage of private initiatives, like – providing electricity to rural areas, health, education, public sanitation, etc. Further, the government also undertakes initiatives for promotion of India’s indigenous industry, like Khadi, while drawing away from a few other sectors to ensure balanced growth in every sector.

4. Reducing Inequality and Income Redistribution

To reduce inequality in the country, the government can undertake measures like imposing taxes or granting subsidies. The government usually imposes taxes on the country’s affluent to reduce their disposable income and undertakes schemes to aid the country’s poor. The government also provides amenities and subsidies to those in need. Redistribution of income is another measure undertaken by the government to promote economic welfare.

What is Redistribution of Income?

Income redistribution means allocating income in a way to bridge the gap of income inequality and ensure that there is no concentration of wealth among a select few. To implement this, the government makes use of fiscal instruments like subsidies, taxation, public expenditure, etc. 

5. Management of Public Enterprises

The government budget is put forth to manage and finance enterprises like power generation, railways, water lines, etc. 

Thus, the government budget is prepared by considering these objectives.

What is the Impact of Government Budget?

The government budget has a three-way impact on society – 

• Resource allocation based on public welfare and social priorities.

• It helps to promote fiscal discipline by micro-managing expenditure.

• Introduces effective programmes to ensure that there is an efficient distribution of goods and services among all.

To learn more about the structure of the government budget, you can refer to our online study materials. You can also enrol in our live classes to gain a deeper understanding of the subject. We, at , ensure that you can approach your exam preparation a more systematic manner with our guidance. 

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IDBI- History and Background

IDBI net is not a difficult topic to grasp. However, without going deep into what is IDBI, you won’t understand what exactly is IDBI. The full form for IDBI is Industrial Development Bank of India, established in the year 1964. The headquarters of IDBI is located in Mumbai. Its parent consortium is Life Insurance Company (LIC). The reason for establishing IDBI is to help struggling industries financially and provide many other facilities of credits to them. The main motive to run IDBI is to provide financial help and support for credit assistance to the industries that need help.

At the start, IDBI was continued to run as an RBI subsidiary, but as time passed RBI went through transfer and now runs under the Government of India (GOI).

Introducing IDBI Net

IDBI net is a new online platform. IDBI net’s online platform is provided to its customers for their benefits. It is a platform that allows IDBI net banking. Alike many other banks that give the facility for e-banking, IDBI has also started to give a few new services for customer’s benefits.

With the constant evolution of the digital world, it has become an essential need of the time to provide customers facilities for their benefit. . However these facilities are possible through any successful bank. Having a good internet connection, an area to work, and an IDBI account you are good to go for IDBI e-banking.

Significance of the IDBI E-Banking 

IDBI e-banking gives two types of online platforms for e-banking. One is the informative platform and another one is the transacting platform. 

The informative platform contains the websites and apps that is to serve the information about the bank.

Some of the information which is getting served is the name of the bank, objectives, motive, year of set up etc. While the transacting platform provides customers to do financial transactions of banking via online mode.

The following are significant for using IDBI Net:

1. Industries get the benefits of less transaction cost via using the IDBI e-banking services. Other than that they can do their work by sitting inside the home which eventually saves the traveling cost.

2. By going for IDBI e-banking, all the paper-work related to banking is reduced by a lot percentage. And this is occurred because of the internet transactions which leads to less usage of paper.

3. All the online transactions in e-banking are computerized and they run on sequences of algorithms. So online transaction leads to a lesser amount of mistakes done by a human. Human mistakes may have customer error. Employee’s mistake, banking fault etc.

4. As everything highly based on online everyone is using online facilities over offline facilities. IDBI net has become essential to many industries. The increase of industrial usage made it a trustable bank for the customers.

5. Industries that are situated in remote areas of the country can easily access to IDBI services. They just need a good internet connection and a device for accessing the service. IDBI has tried to make it possible for everyone. IDBI plays a big role in being the bridge for connecting with financial barriers.

6.  IDBI e-banking allows you to enjoy lower prices, fewer mistakes, fewer fraud activities because of the e-banking which ultimately a big reason for increased productivity.

The Function of IDBI Net

IDBI internet services have a few essential functions:

1. IDBI provides industries to have the facility of industrial bill payment for customer

2. IDBI banking plays an effective role in managing credit rates for customers benefits.

3. IDBI allows customers of getting loans easily and allows to lend fund to the borrower of industries.

4. IDBI banking allows customers to have the facilities for B2B Payments.

5. IDBI banking access the loan application‘s approval as soon as possible. 

6. IDBI baking provides employee benefits as well as account aggregation and management for pensions. 

7. It allows the planning and for the promotion of industries present in India with the benefits of the country.

8. It allows loans to the customer to repay within 15 years.  

9. IDBI regulates the supervision for other operating financial institutions like ICI, UTI, LIC etc.

Products Offered by IDBI

There are many products which are served by IDBI some of them are :

In IDBI Personal Banking:

For IDBI Agriculture Banking:

Other than this IDBI also offers loans to corporate sectors and has a specific sector which is for the NRI banking sector. IDBI bank has various awards and recognition for its services.