Accountants make closing entries to reset temporary accounts to a zero balance. Some accounts in the chart of accounts are temporary, while others are permanent.

We are a team of writers, experimenters and researchers providing you with the best advice with zero bias or partiality. Cafés and restaurants have become the new office, according to new data, as ...

Starting June 1, 2025, all types of savings bank (SB) accounts, including regular, salary, and NRI accounts, will have zero penalty for not maintaining the Average Monthly Balance (AMB).

The new policy comes into effect from June 1, 2025, and applies to all categories of savings bank accounts, including regular, salary, and NRI accounts.

With this move, the bank becomes the first major public sector bank to remove AMB-related charges. It means all savings account holders can now maintain zero balance without penalties. The ...

In a customer-friendly move, Canara Bank has announced a waiver of the Average Monthly Balance (AMB) requirement across all types of savings bank accounts, including regular savings accounts ...