What are Forward Contracts

In derivative market, one of important trade is forward trade. In forward trade, two or more parties contract each other on the basis of some terms. One party is the buyer and other party is the seller of financial or any other other product. In this contract, both payment and delivery of product is done in any future date. But price is fixed at current date. Such contract is called forward contract.


In simple words, this contract is the contract of commitment. Seller commits to deliver his product at future date and buyer commits to pay at future date. Price of product is fixed at current date. Now, both have some rights and obligations relating to this contract. This contract can be done for all products. Both financial and commodity products are included in it.

Compare Forward Contacts with Cash Contracts 

Cash Contract : You want to go to Kuwait. For this, you need dinar, you just go to bank and pay Rs. 108958.00 and buy 500 kuwaiti dinar, this is cash transaction and this is cash contract.

Forward Contract : You want to go kuwait at the end of 100th day. You just go to bank and contract for buying 500 kuwaiti dinar at the end of 100th day  with today rate. Today rate is 1 kuwaiti dinar is Rs. 217.92. There is no transaction between bank and you. This is just agreement. You are in the obligation to pay Rs. 108958 at the end of 100th day. Bank has obligation to deliver you the 500 kuwaiti dinar. If any party will refuse this, this will become breach of contract. Any party can go to court for safeguarding his rights.

More Deep Explanation with Beta Infographic

In above infographic, you have seen that both buyer and seller are agree to contract at $ 2 per unit of any product and after one year, buyer will buy and seller will sell. In this period, volatility will not change their commitments. If price at future date will rise, buyer will get less unit. It means, buyer is in profit by doing this forward deal. If price at future date will decrease, seller will give less. It means, seller is in profit by doing this deal. It is profit or loss situation for both parties. This contract must be bought by buyer for future date.

Remember Point : 

1st Situation :


=>>> Buyer is happy because he bought product at $ 2 through forward contract whose now price is $ 3

=>>> Seller is weeping because he sold his product at cheap rate of $ 2 but now its price is $ 3. He can earn one more dollar if he did not do forward contract. His luck is bad.

2nd Situation :

=>>>  Buyer is weeping because he bought his product at high rate of $ 2 but now its price is $ 1. He can earn one more dollar if he did not do forward contract. His luck is bad.

=>>>  Seller  is happy because he sold product at $ 2 through forward contract whose now price is $ 1.

Document Listing for NBFC for Registration and Certification from RBI

List of documents to be be submit with application from NBFC 

(Non Banking Financial Companies) to RBI.  

Here is documents descriptions for NBFC (Min.NOF requirement Rs. 200 lakh) 
..

SrN	Description
1	Minimum NOF requirement Rs. 200 lakh.
2	Application to be submitted in two separate sets tied up properly in two separate files.
3	Annex II to be submitted duly signed by the director/Authorized signatory and certified
	by the statutory auditors.
	Annex III (directors’ profile) to be separately filled up for each director. Care should be
4	taken to give details of bankers in respect of firms/companies/entities in which directors have substantial interest.
5	In case the directors are associated or have substantial interest in other companies,
	indicate clearly the activity of the companies (whether NBFC or not).
6	Board Resolution specifically approving the submission of the application and its
	contents and authorising signatory.
	Board Resolution to the effect that the company has not accepted any public deposit, in
7	the past (specify period)/does not hold any public deposit as on the date and will not accept the same in future without the prior approval of Reserve Bank of India in writing.
	Board resolution stating that the company is not carrying on any NBFC activity/stopped
8	NBFC activity and will not carry on/commence the same before getting registration from
	RBI.
9	Auditors Certificate certifying that the company is/does not accept/is not holding Public
	Deposit.
10	Auditors Certificate certifying that the company is not carrying on any NBFC activity.
11	Net owned fund as on date.
12	Certifying compliance with section 45S of Chapter IIIC of the RBI Act, 1934 in which
	director/s of the company has substantial interest.
13	Details of changes in the Memorandum and Articles of Association duly certified.
14	Last three years Audited balance sheet along with directors & auditors report.
15	Details of clauses in the memorandum relating to financial business.
16	Details of change in the management of the company during last financial year till date
	if any and reasons thereof.
17	Details of acquisitions, mergers of other companies if any together with supporting
	documents.
18	Details of group companies/associate concerns/subsidiaries/holding companies.
19	Details of infusion of capital if any during last financial year together with the copy of
	return of allotment filed with Registrar of Companies.
20	Details of the bank balances/bank accounts/complete postal address of the
	branch/bank, loan/credit facilities etc. availed.
21	Business plan for next three years indicating market segment to be covered without any
	element of public deposits.
22	Cash flow statement, asset/income pattern statement for next three years.
23	Brief background note on the activities of the company during the last three years and
	the reasons for applying for NBFC registration.
	II(b) is the company engaged in any capital market activity? If so, whether there has
24	been any non-compliance with SEBI Regulations? (Statement to be certified by
	Auditors).
25	Whether any prohibitory order was issued in the past to the company or any other

Sr No.	Description
	NBFC/RNBC with which the directors/promoters etc. were associated? If yes, details
	there of.
26	Whether the company or any of its directors was/is involved in any criminal case,
	including under section 138(1) of the Negotiable Instruments Act? If yes, details thereof.
27	Whether the company was granted any permission by ECD to function as Full-fledged
	Money Changers?
28	Whether the company was/is authorised by ECD to accept deposits from NRIs.
29	Whether “Fit and Proper” Norms for Directors have been fulfilled.

Converting a leasehold property into a freehold property improves title of asset; holding period reckoned from date of lease

Conversion of rights of lessee in property from leasehold right into freehold right only results in improvement of his or her rights over property and it would not have any effect on taxability of gain from such property, which is related to period over which property is held

Facts:

a) The assessee purchased a property on leasehold basis in year 1984. She got said property converted into freehold property in year 2004 and thereupon sold it. The capital gain arising therefrom was declared by assessee as long-term capital gain (‘LTCG’);

b) The Assessing Officer held that since the property was acquired by converting the leasehold right into freehold right and was sold within three years, gain arising thereform was taxable as short-term capital gain;

c) On appeal, the CIT(A) held that capital gain arising from sale of such property was to be taxed as LTCG. Further, the Tribunal upheld the order of the CIT (A). The aggrieved revenue filed the instant appeal.

The High Court held in favour of assessee as under:

1) The difference between the 'short-term capital asset' and 'long-term capital asset' was the period over which the property had been held by the assessee and not the nature of title over the property;

2) The conversion of the rights of the lessee in the property from having leasehold right into freehold right was only by way of improvement of her rights over the property and it would not have any effect on the taxability of gain arising from such property, which was related to the period over which the property was held by assessee;

3) In the present case, the property was held by the assessee as a lessee since 1984, and the same was transferred on 31.3.2004, (i.e. after holding it for more than three years) after the leasehold rights were converted into freehold rights on the same property which was in her possession. Thus, gain arising from such property would be taxable as LTCG - CIT V. SMT. RAMA RANI KALIA (2013) 38 taxman 176 (Allahabad)

Voluntary disclosures don’t absolve one from concealment penalty; plea as to ‘buy peace’ is irrelevant

Voluntary disclosure does not lead to assessee being free from mischief of penal proceedings under section 271(1)(c)

The Supreme Court held as under:

1) Explanation to section 271(1) raises a presumption of concealment, when a difference is noticed by the Assessing Officer, between reported and assessed income. The burden then shift on the assessee to show otherwise, by cogent and reliable evidence;

2) When the initial onus placed by the Explanation, has been discharged by assessee, the onus shifts on the revenue to show that the amount in question constituted the income and not otherwise;

3) The Assessing Officer shall not be carried away by the plea of the assessee like ‘voluntary disclosure’, ‘buy peace’, ‘avoid litigation’, ‘amicable settlement’, etc., to explain its conduct;

4) Assessee had only stated that he had surrendered the additional sum with a view to avoid litigation, buy peace and to channelize the energy and resources towards productive work and to make amicable settlement with the income-tax department. Statute does not recognize those types of defences under the Explanation 1 to section 271(1)(c);

5) It is trite law that the voluntary disclosure does not free the assessee from the mischief of penal proceedings under section 271(1)(c). The law does not provide that when an assessee makes a voluntary disclosure of his concealed income, he has to be absolved from penalty;

6) The surrender of income in this case was not voluntary in the sense that the offer of surrender was made in view of detection made by the Assessing Officer in the search conducted in the sister concern of the assessee;

7) The Assessing Officer had to satisfy whether the penalty proceedings were initiated or not during the course of the assessment proceedings and the Assessing Officer was not required to record his satisfaction in a particular manner or reduce it into writing. Thus, there was no illegality in action of department in initiating penalty proceedings - MAK Data (P.) Ltd. V. CIT (2013) 38 taxman 448 (SC)

Benefit of confusion in Circular and amendment to sec. 54EC goes to assessee; section 234B interest reduced

Where due to confusion created by CBDT’s circular and amendment made to section 54EC, assessee was under a bona fide belief of availing exemption, and did not pay capital gains tax, levy of interest for default in payment of advance tax was to be restricted

Facts

a) The assessee earned long-term capital gain of Rs. 1.82 crores on sale of property on 16-3-2006. For purpose of availing sec. 54EC relief he made application to NHAI for investing entire gains in NHAI's bonds in the absence of a limit on the quantum of investment under Section 54EC. Such application was rejected by NHAI;

b) In meantime, CBDT’s circular extended the time-limit for such an investment up to 31-12-2006 without any ceiling limit and, thereafter, up to 31-3-2007, however, imposing a maximum ceiling limit of Rs.50 lakhs, with retrospective effect from 01.03.2006;

c) In January, 2007, assessee applied for next issue of bond for investing Rs. 50 lakhs which was again rejected. The assessee now voluntarily paid capital gains tax;

d) The revenue sought to levy interest under sections 234A, 234B and 234C. The assessee prayed for waiver of interest levied under section 234B

The High Court held in favour of assessee as under:

1) Section 54EC, as it stood prior to its substitution by Finance Act, 2007 was without any ceiling limit for 'capital gain' investment in bonds. Its substitution by Finance Act, 2007 with retrospective effect from 1-4-2006 was to the detriment to the assessee, de hors which assessee would have had the benefit of exemption from capital gain tax;

2) There could be no dispute that the entire tax liability was discharged during the period from 1-4-2006 to 31-3-2007 and up to the Finance Act, 2007, the assessee was under a bona fide belief that he would be entitled to exemption from payment of capital gains tax under section 54EC;

3) The very fact that the words 'retrospective amendment of law' used in Paragraph 2(c) (of CBDT’s order dated 26-6-2006) established that it was one of the unavoidable circumstances by which an assessee would stand to benefit by the waiver of interest under section 234B;

4) Where a return of income could not be filed by the assessee due to unavoidable circumstances, and assessee proved to have a bona fide belief , coupled with the voluntary payment of tax liability, the Chief Commissioner was not justified in declining the benefit of a waiver of interest to assessee under section 234B. Thus, ends of justice would be met by waiving interest up to 80 per cent under section 234B - P.S. SESHADRI V. CHIEF CIT (2013) 38 taxman 10 (Karnataka)

IFRS 1

IFRS Means international financial reporting standard. For making financial statement globally comparable, we need to follow IFRSs. These IFRS are issued by international accounting standard committee. Today, we are explaining first international financial reporting standard. Its name is First Time Adoption of IFRS.


First Time Adoption Meaning 

First time adoption means to follow IFRS first time by any entity for making of financial statement. An entity who follow it first time, will be first time adopter.

1. Derecognition of GAAP Assets and Liabilities

If your company is following IFRS first time, it is the rule of IFRS 1 that you should stop to show the assets and liabilities in the opening balance sheet if these assets and liabilities are disqualify or are not recognition under  IFRSs

A) Intangible Assets  which have no recognition under IFRSs

• Expenditure on Research
• start-up, pre-operating, and pre-opening costs
• training
• advertising and promotion
• moving and relocation

B) Liabilities which have no recognition under IFRSs

• General Reserve for Restructuring
• General Reserve for Future Operating Losses  

2. Recognition of  Assets and Liabilities under IFRS

 There are some assets and liabilities which were not shown in balance sheet because they were not recognized by GAAP. If such assets and liabilities are now recognized by IFRS, we should include these assets and liabilities in the balance sheet. Following are its examples 

• Derivatives of financial assets and liabilities 
• Future Liabilities of Employer toward employees like obligations under medical and life insurance and compensation.
• Provision Liability for Restoration, warranties and guarantees.
• Deferred Tax Asset or Liability

3. Reclassification of Dividend After Balance Sheet Date

 Company can not reclassify the dividend after balance sheet date after first time adoption of IFRS.

4. Disclosure in Interim Financial Statements 

Any company who is adopting IFRS first time, should disclose this information in his interim financial statements in very clear words. 

We are changing from GAAP to IFRS. So, it is necessary to do some adjustment after IFRS in the financial statements.

Share-based Payment - IFRS 2

Share based payment is the second IFRS. As per this standard, we should show all the share based payment transactions in the financial statement of the company. Before explaining this standard in detail, we should tell the meaning of share based payments.

Meaning of Share based Payment

Share based payment means to pay the price of goods, services through issuing of shares when we buy. Instead of paying the purchase consideration in cash, we issue the shares to the vendor.  

Scope of IFRS 2                         

IFRS 2 will apply on following payments

• Employees shares purchase plan
• Employees shares ownership plan
• Share  right application
• Share option plan

.

When an employee provides his services to us, we can give him shares for his service. So, it is must to show it in the financial statements but IFRS 2 will not apply on the share based payment when we buy treasury shares.

When we provide the share as payment for buying any good or service we will recognize it by passing following entry

Respected Expense Account Dr.

Equity share Capital Account Cr.

Measurement

When we pass above entry, it is necessary to measure the fair value of both goods and services and shares. This fair value is calculated at the date of receipt of goods or service to buyer. First we calculate the fair value of goods or service and then we calculate the fair value of shares. On this basis, we fix the number of shares which we pay in the form of consideration.

Accounting Standards and IFRS

Accounting Standards are simple principles which should be followed by accountants when they maintain the accounts. In every profession, there are lots of code of conduct. In accounting, there are also lots of code of conducts, these code of conducts in accounting are called accounting standards.


If accountant will not follow these rules, financial statement will not show the correct financial position. Every country has own accounting standards. Indian accounting standards are called India GAAP. Following are its list

List of Indian Accounting Standards

1.  AS 1 to AS 4

2. AS 5 to AS 8 

3. AS 9 to AS 12

4. AS 13

5. AS 14

6.  AS 15

7.  AS 16 

8.  AS 17 

9.  AS 18

10. AS 19

11. AS 20

12. AS 21

13. AS 22

14. AS 23

15. AS 24

16. AS 25 

17. AS 26

18. AS 27

19. AS 28


IFRS 

Large number of accounting professionals suggest to follow same type of accounting standards. There are different type of accounting standards in different countries. Due to this, there is difficult to compare the financial statements of different countries. So, for making unique accounting standards, IFRSs are created by internal accounting standard committee. Its full name international financial reporting standards. Following are its list.

List of IFRSs 

IFRS 1

IFRS 2

IFRS 3

IFRS 4

IFRS 5

IFRS 6

How to Create Investment Strategy in Market Volatility

 Investment strategy is the planning to invest anywhere with less risk and high reward. When we talk to invest in stock market, there is big risk to lose the investment money because there is big fluctuations in this market. No one can exact tell about when the prices will change and in what direction. So, to understand trends and making perfect probability is must in this investment strategy. 


With following ways, investors can make the investment strategy for stock market.


1. Directional Investment Strategy 

As per this investment strategy, investor will take the investment decisions on the basis of direction of market. If market is going upward, investors will start to buy the stock. If market will be going to down, investors will start to sell the stock. This is one of the fundamental principle to reduce risk in stock transactions.


2. Non-directional Investment Strategy 

As per this investment strategy, investor will not take the investment decisions just by seeing the direction of stock market. One market, a person who invested Rs. 1,00,000  in LIC's market plus became Rs. 35000 due to decreasing the share prices. All those who followed the strategy of directional investment, are in loss of Rs. 65000. But all those who follow non-directional investment strategy, cover this loss because today is the period of boom in the stock market. It is not necessary, if the market is going down, will never rise. In this strategy,  investor tries to best to get the gain between good and bad performer stock.


3. Trading on Volatility Investment Strategy 

As per this strategy, investors takes the investment decisions on the basis of future volatility. In hedge fund, this type of decisions are done through option and future trading.


4. Probability of Future Growth Investment Strategy

As per this strategy, investor calculates the the probability of future growth of the company in which he is interested to invest his money on his analyzed information. On this basis, he fix the its estimated price. If he will see good growth and there is the chance of increasing prices, he will buy its stock by ignoring the market trends. His thinking will be big and long period for gaining from his investment in stock.

என்ன சேவைகளை இணையம் வழி பெறலாம்?

வங்கிகள் இணையதளம் வழி சேவைகளைத் தொடங்கி 15 ஆண்டுகளுக்கு மேல் ஆகிவிட்டன.  வங்கிக்குச் செல்லாமல் வீட்டில் இருந்தே இன்டர்நெட் மூலம் வங்கி மற்றும் நுகர்வோர் துறைகள் சார்ந்த பலவகைப் பரிமாற்றங்களைச் செய்ய இயலும். அனைத்து வங்கிகளும் இன்றைக்குப் பல்வேறு வகையான இணைய தளச் சேவைகளை அளிக்கின்றன. 

ஆனாலும்கூட, டிராக்டர் வந்தாலும் உழுவதற்கு எருதுகளையே பயன்படுத்துவேன் என்று அடம் பிடிக்கும் விவசாயிகளைப் போல பல வாடிக்கையாளர்கள் அதிலும் குறிப்பாக நடுத்தர மற்றும் முதியவர்கள் சிறு தொகைக்கான பரிமாற்றங்களுக்கும் வங்கிக்குச் செல்வதற்கே விரும்புகிறார்கள். ஒருபுறம் வங்கிக்குச் செல்வதையே பழக்கமாக்கிக் கொண்ட மனம்.  மற்றொருபுறம் அறிவியல் சார்ந்த புதிய உத்திகளைக் கையாளுவதில் உள்ள பயம். இங்கே கொடுக்கப்பட்டுள்ள சில விவரங்களும் பாதுகாப்புக் கவசங்களும் உங்கள் நேரத்தையும் செலவையும் மிச்சப்படுத்தும். 
என்ன சேவைகளை இணையம் வழி பெறலாம்?
வங்கிகள் வாடிக்கையாளர்களுக்கு வழங்கும் இன்றைய இணையதளச் சேவைகளைப் பொதுவாக இரண்டு வகையாகப் பிரிக்கலாம். அவை விவரம் பெறுவதற்கான சேவைகள் மற்றும் பணப் பரிமாற்றச் சேவைகள். 

 Ø    தனது கணக்கிலுள்ள இருப்புத் தொகைகள், வைப்பு நிதிகளின் முதிர்வு தேதிகள், கடன் கணக்குகளில் உள்ள நிலுவைத் தொகைகள், கணக்கு விவரங்கள் (Account Statement), காசோலைப் புத்தகம் பெறுவதற்கான விண்ணப்பம், காசோலைத் தடுப்பிற்கான விண்ணப்பம் (Cheque Stop Payment Request), பல்வேறு வங்கிச் சேவைகளுக்கான விண்ணப்பங்கள் சமர்ப்பித்தல் போன்றவை முதல் வகைச் சேவையிலே அடங்கும்.
 Ø    தனது கணக்கிலிருந்து அதே வங்கியில் தான் அல்லது மற்றவர்கள் வைத்திருக்கும் கணக்கில் செலுத்துவதற்கான                                                                                                                               
பணப் பரிமாற்றம்; மற்ற வங்கிகளில் உள்ள கணக்குகளில் வரவு வைப்பதற்கான பரிமாற்றங்கள்; ரயில் முன்பதிவு, மின்வணிகம், தொலைபேசி, மின்கட்டணம், சொத்துவரி போன்றவற்றிற்கான தொகைகளைச் செலுத்துதல் போன்றவற்றிற்கு இன்டர்நெட் பேங்கிங் பேருதவியாக அமைகிறது.  வங்கிக்குச் செல்ல வேண்டாம், எங்கும் வரிசையில் நிற்க வேண்டாம், பணத்தைப் பாதுகாக்க வேண்டாம். அனைத்துச் சேவைகளும் 24 மணி நேரமும் கிடைக்கும். (வங்கிகளுக்கிடையிலான பணப் பரிமாற்றத்திற்கு (NEFT அல்லது RTGS) மட்டும் குறிப்பிட்ட கால வரையறை உண்டு).
ரயில் முன்பதிவு, மின்வணிகம் மற்றும் நுகர்வோர் கட்டணங்களை ஏடிஎம் அட்டை மற்றும் கிரெடிட் கார்டு மூலமும் செலுத்த இயலும்


முதலாவதாக நீங்கள் கணக்கு வைத்திருக்கும் வங்கியிலே விண்ணப்பத்தைக் கொடுத்து  இன்டர்நெட் பேங்கிங் வசதியைப் பெற வேண்டும்.  விண்ணப்பத்திலேயே மேற்கண்ட வசதி, விவரம் பெறுவதற்கு மட்டுமா அல்லது பணப்  பரிமாற்றத்திற்கும் தேவையா என்பதைக் குறிப்பிட வேண்டும். தங்கள் விண்ணப்பத்தைப் பெற்றுக் கொண்டபின்னர் வங்கியானது அந்த வசதிக்கான கடவுச் சொல்லை (Pass Word) தங்கள் முகவரிக்கு நேரடியாகவோ அல்லது தங்களது வங்கிக் கிளையின் மூலமாகவோ அனுப்பி வைக்கும். குறிப்பிட்ட வங்கியின் இணைய தளத்தில் நுழைந்து வங்கியால் கொடுக்கப்பட்ட தங்கள் நுகர்வோர் அடையாளச் சொல்லையும் (User ID) மற்றும் கடவுச் சொல்லையும் உபயோகித்து தாங்கள் விண்ணப்பித்திருந்த சேவைகளைப் பெறலாம்.

பெரும்பாலானவர்கள் இன்டர்நெட் பேங்கிங் வசதியைச் சொந்தக் கம்ப்யூட்டர் மூலமே அணுகுகின்றார்கள். அதுவே நல்லதும் கூட. அதனோடு பி.எஸ்.என்.எல், டாடா, ஏர்டெல், ரிலையன்ஸ், வோடபோன் போன்ற இன்டர்நெட் சேவை தருவோரின் மூலம் பெறப்பட்ட இன்டர்நெட் வசதியும் (Internet Connection) தேவை.  

பாதுகாப்பு அடுக்குகள்
இன்டர்நெட் சேவைக்கென உள்ள கடவுச் சொல்லைத் தவிர, பணப் பரிமாற்றத்திற்கெனத் தனியாக ஒரு கடவுச் சொல்லும் தரப்படும். பணப் பரிமாற்றத்திற்கு அந்தக் கடவுச் சொல்லைப் பயன்படுத்த வேண்டும்.  பரிமாற்றத்தின் போது பெரும்பாலான வங்கிகள் ஒருமுறைக் கடவுச் சொல்லாகக் (One time Pass Word) குறிப்பிட்ட எண்ணை முன்னரே பதிவு செய்யப்பட்ட வாடிக்கையாளரின் அலைபேசிக்குக் குறுஞ்செய்தியாக அனுப்பும்.  பணப்பரிமாற்றத்திற்கு அந்தக் கடவுச் சொல்லும் பயன்படுத்தப்பட வேண்டும். இது ஒருவகையிலே வாடிக்கையாளர்களுக்குக் கொடுக்கப்பட்டுள்ள மூன்றடுக்குப் பாதுகாப்பாகும். 

இணையதளம் மூலமாகக் கோடிக்கணக்கான ரூபாய்கள் வங்கிக் கணக்குகளிலிருந்து திருடப்படுவதும், பொய்யான இணைய தளங்களை உருவாக்கிக் கணக்கு விவரங்கள் பெறப்படுவதும் பாதுகாப்பு அடுக்குகளை மேலும் மேலும் வலுப்படுத்துவதற்கான காரணங்களாக அமைகின்றன.

கடைப்பிடிக்க வேண்டிய எச்சரிக்கைகள்.

வங்கியிலிருந்து பெறப்பட்ட கடவுச் சொல்லை உபயோகித்து உடனடியாக வேறு கடவுச் சொல்லைத் தேர்ந்தெடுங்கள். புதிய கடவுச் சொல் எண், எழுத்து மற்றும் குறியீடுகளை உள்ளடக்கியதாக இருக்கட்டும்.            (Ex.: LTvn#45a) அவ்வப்பொழுது கடவுச் சொல்லை மாற்றிக் கொள்ளுங்கள்.

குறிப்பிட்ட வங்கியின் இணையதளத்தில் நுழைவதற்குத் தங்களுக்கு வந்த மின்னஞ்சலை உபயோகித்தோ அல்லது தங்கள் செயல்பாடின்றித் தாமாகவே உதயமான இணையதளங்கள் வழியோ முயல வேண்டாம். 

வங்கியின் இணையதள முகவரியை நேரடியாக டைப் செய்தல் நலம். தங்கள் வங்கியின் இணைய தள முகவரி “https://” என்று துவங்க வேண்டும் (“http://” என்று அல்ல), முன்குறிப்பிட்ட முகவரித் துவக்கத்தில் உள்ள ‘s’ இணையதளம் பாதுகாப்பானது (secured) என்பதைக் குறிப்பிடுகிறது. முகவரிப் பட்டை (Address Bar) பூட்டுக் குறியுடன் துவங்கிப் பச்சை நிறமாக மாறினால் குறிப்பிட்ட இணையதளம் பாதுகாப்புச் சான்று உடையது என்று பொருள்.

எந்த வங்கியும் இணைய தளம் அல்லது தொலைபேசி மூலமாக உங்கள் தனிப்பட்ட மற்றும் கணக்கு விவரங்களைக் கேட்பதில்லை. ஆகவே தங்கள் கணக்கு விவரங்களைப் புதுப்பிக்கச் சொல்லிக் கேட்கும் யாருக்கும் தொலைபேசி அல்லது மின்னஞ்சல் வழி பதில் கொடுக்க வேண்டாம். அத்தகைய மின்னஞ்சல்களின் இணைப்புகளையும் திறக்க வேண்டாம். தேவைப்பட்டால் குறிப்பிட்ட வங்கியின் கிளைக்கு நேரடியாகச் சென்று விவரங்கள் கேட்கலாம்.

இன்டர்நெட் சென்டர் மற்றும் நெட்ஒர்க் மூலம் இணைந்துள்ள கம்ப்யூட்டர்களை உபயோகப் படுத்திப் பணமாற்றம் செய்தல் தவிர்க்கப்பட வேண்டும்.  கம்ப்யூட்டர் மூலம் தாங்கள் செய்த நடவடிக்கைகள் மற்றும் தாங்கள் தட்டச்சு செய்த எண்களையும் எழுத்துக்களையும் அப்படியே மீட்டெடுப்பதற்குச் சில மென்பொருள்கள் (Key Logger) உதவிபுரியும். ஆகவே பொது இடங்கள் மற்றும் அலுவலகங்களில் உள்ள நெட்வொர்க்கில் இணைக்கப்பட்ட  கம்ப்யூட்டர்கள் மூலம் பணமாற்றம் செய்தல் கூடாது.

அறிவியல் வழங்கிய கொடைகளான மின்சாரம், போக்குவரத்து வாகனங்கள் போன்றவற்றால் விபத்துக்களும் நிகழ்கின்றனதான். ஆனாலும் அவற்றின் உபயோகம் ஒவ்வொருநாளும் அதிகரிக்கின்றனவே. தக்க பாதுகாப்புக் கவசங்களும் முன்னெச்சரிக்கைகளும் இணைந்தால் இன்டர்நெட் பேங்கிங் வங்கிச் சேவையை லகுவாக்கித் தரும்.  அது இன்றைக்கு மனிதனுக்குக் கிடைத்த சாபமல்ல வரம்தான் என்பதும் உணரப்படும்.