Bank transaction
nagaraj kadlaskar (79 Points)
24 October 2018
Sweep-in-credit. what's the meaning, purpose and how it is done.
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177810 Points)
Replied 25 October 2018
When any account is linked with FD account with sweep in facility, and when any debit transaction arises with higher amount than the present available balance, the FD is broken to that extent and the amount with interest if any, is credited to the linked account. This inflow of deficit amount to the main account by braking of linked FD/s, is sweep in credit.
Recent Topics
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
- How to reverse wrong transaction payment in phonep
- Issue with refund for person who has filed for rel
- How to take ITC for October 2024 GST Payment in PM
- How to refund a wrong transaction Phone Pe?
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
Related Threads
CAclubindia
