GENERAL BANKING Archive

SBN- Grace Period For Residents & NRIs.

SBN, Specified Bank note, RBI, Grace period, condition, stipulation, format, passport, red channel, documentary proof, absent.
The facility for exchange of Specified Bank Notes (SBN) announced by Reserve Bank of India (RBI) was from 10th  November to 30th  December 2016. On November 8, 2016, Prime Minister of India announced cancellation of legal tender
10 Jan 17 Author CategoryBanking News No Comment Read More

Stamp Duty and Stamping of Documents

Stamp duty, stamping, Franking, document, Indian Stamp Act, enforceable, Adhesive, Impressed Stamp, Revenue Stamp, Embossed Stamps, E-stamping, stamping document
What is stamp duty? Stamp duty is a tax levied by governments for legal recognition of documents. Stamp duty is a source of revenue for the government. Section 3 of the Indian Stamp Act, 1899 stipulates payment
3 Jan 17 Author CategoryBanking Terms, Legal Terms and Matters No Comment Read More

SBN Ready Reckoner: Instructions Related to Exchange of Specified Bank Notes  

SBN Ready Reckoner, Specified Bank Notes, cash, demonetisation, RBI, ceilings, remittance, withdrawal
Consequent to the withdrawal legal tender status of Rs. 500 and Rs. 1000 notes, RBI has provided various instructions to banks for strict compliance. Details as to how banks are ensuring such instructions are compiled and provide
1 Dec 16 Author CategoryBanking Awareness No Comment Read More

Specified Bank Notes (SBN) and Stipulations for SBN Exchanges

Government of India, on 8 November 2016 announced withdrawal of legal tender status of Rs. 500 and Rs.1000 bank notes. The term Specified Bank Notes (SBN) is being used to refer the said currency notes.  The demonetisation
25 Nov 16 Author CategoryBanking Awareness No Comment Read More

Purchase of a property: How do we ascertain the clear title of the seller?

Property purchase, clear title, original title deed, prior deed, possession certificate, tax receipt, encumbrance certificate, visit, approved plan,
A house/flat in own name is the most cherished dream for majority of Indian families. Owning a house is a celebration. There are many laws that protect the rights of the purchaser of a property. Even then,
31 Jan 16 Author CategoryLegal Terms and Matters No Comment Read More