Finance

01 Nov 24

CIBIL Score Calculation and Its Importance for Financial Health

CIBIL score is a critical financial metric calculated by analyzing factors like payment history, credit utilization, credit length, credit mix, and recent credit inquiries. Each of these elements is assigned a specific weight, and together they form a holistic view of an individual’s creditworthiness. Key Factors Affecting Your CIBIL Score:…

26 Oct 24

SBI MSME Loans: Empowering India’s Small and Medium Business

SBI MSME Loans: State Bank of India (SBI) plays a significant role in supporting the growth of India’s Micro, Small, and Medium Enterprises (MSMEs) by providing specialized loan products tailored to meet the unique needs of these businesses. With a variety of loan options, SBI’s MSME loans enable entrepreneurs to…

17 Oct 24

Credit Guarantee Scheme for Micro & Small Enterprises (CGTMSE)

Ministry of MSME started Credit Guarantee Scheme for Micro & Small Enterprises (MSEs) (CGTMSE) in the year 2000. In order to implement the Credit Guarantee Scheme, Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE) was setup by the Ministry of MSME, GoI and SIDBI. Credit Guarantee Scheme aims…

04 Jun 24

RBI Fair Practice Code: Now Interest will be charge by Lenders from the date of receipt of funds in Bank Account

Home Loans, Mortgage Loans or any type of Loans, customer usually starts to make payment of Interest from the date of disbursement of loan even though they don’t receive actual funds in their bank accounts. Banks/NBFCs loan management system (LMS) starts charging interest on principal amount disbursed as per repayment…

05 Apr 24

Deemed Resident as per Section 6(1A) Income Tax Act

Section 6(1A) of the Act A new sub-section (1A) to Section has been inserted with effect assessment year 2021-22 to provide that notwithstanding anything contained in sub-section (1), an individual, shall be deemed to be resident in India in any previous year if the following conditions are satisfied: The individual…

11 Feb 24

One Person Company (OPC) in India

One person companies are in existence in certain countries. In India this concept has been mooted by the Ministry of Corporate Affairs by allowing One Person Companies in India in line with UK, China, USA, Australia, Singapore, Qatar, Pakistan and several other countries. It is a right thinking in right…

11 Feb 24

Non Payment of Income Tax cannot be termed as Tax Evasion – Madras HC

The Madras High Court has quashed the prosecution initiated by the income tax department under section 276C(2) of the Income Tax Act, 1961 by holding that there is no willful evasion of tax. Section 276C (2) of the Income Tax Act, 1961 provides that if a person willfully attempts to…

10 Dec 23

RERA Gujarat (GUJRERA) – Know About RERA Gujarat Before Buying a House in 2024!

In 2017, Gujarat’s state government published the overarching rules for the Gujarat Real Estate (Regulation and Development) Act, putting the Gujarat RERA (GUJRERA) into effect ever since. RERA Gujarat supervises the real estate sector in Gujarat and protects the rights of home buyers. Gujarat’s real estate sector is progressing daily, making the state a…

08 Dec 23

Seller’s Home Loan Balance Transfer with Bank/NBFCs

A home loan is a secured loan that is obtained to purchase property by offering property to be purchase as collateral. Looking at current property rates in different cities and states in India, it may be not possible for middle class or upper middle class buyer to purchase property for…

19 Nov 23

RBI IMPLEMENTS STRICTER MEASURES ON CONSUMERCREDIT AND NBFCS

The Reserve Bank of India (RBI) has recently implemented regulatory measures aimed at addressing the rapid growth in consumer credit and the increasing dependency of Non-Banking Financial Companies (NBFCs) on bank borrowings. In a statement dated November 16, 2023, Governor Vaibhav Chaturvedi highlighted the need for banks and NBFCs to…

19 Nov 23

Home Loans & Its Benefits

‘Home’ brings to mind comfort, joy, pride and family time. Every homeowner will tell you that her home gives her a sense of identity and its ownership is sacrosanct; this is one asset she would never trade for anything in the world. To experience this sense of ownership, pride and joy,…

12 Nov 23

The Insolvency and Bankruptcy Board of India (IBBI) proposes changes to rules for insolvency resolution process in Realty Projects

The Insolvency and Bankruptcy Board of India (IBBI) has proposed five broad changes, including operating a separate bank account for each real estate project, executing registration/sublease deeds with approval of the Committee of Creditors (CoC) during the resolution process and allowing CoC to examine and invite separate plans for each…

12 Aug 23

Personal Data Protection Bill passed in Rajya Sabha

The Digital Personal Data Protection Bill, 2023 was passed by the Rajya Sabha on Wednesday by means of a voice vote. The Bill has retained the contents of the original version of the legislation proposed last November, including those that were red-flagged by privacy experts, such as exemptions for the…

16 Jul 23

Partition of HUF

Partition under Hindu Law, can be total or partial. In total partition all the members cease to be members of the HUF and all the properties cease to be properties belonging to the said HUF. Partition could be partial also. It may be partial vis-a-vis members, where some of the…

02 Jul 23

Master Circular by RBI for Urban Co-Operative Bank for Income Recognition, Asset Classification, Provisioning and Other Related Matters

Reserve Bank of India has release a master circular for all primary urban co operative banks regarding Income Recognition, Assets Classification, Provisioning & Other Relates Maters 1.1 In order to reflect a bank’s actual financial health in its balance sheet and as per the recommendations made by the Committee on…

01 Jul 23

REMEDIES AVAILABLE TO THE BORROWERS UNDER SARFAESI ACT 2002

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act popularly known as SARFAESI Act was brought into effect in 2002. The purpose of the act was to achieve faster recovery of the dues declared as Non-Performing Assets (hereinafter referred as “NPAs”) and better availability of the…

30 Jun 23

What is Bonds & Types of Bonds

A bond is a debt security, similar to an IOU. Borrowers issue bonds to raise money from investors willing to lend them money for a certain amount of time. When investor buy a bond, they are lending to the issuer, which may be a government, municipality, or corporation. In return, the…

30 Jun 23

Why We Need to Execute & Registered WILL in India

A Will or testament is a legal declaration by which a person, the testator, names one or more persons as the executor to manage his/her estate and provide for the transfer of his/her property after his death. A Will can be made by anyone above 21 years of age in…

30 Jun 23

What is NACH & ENACH. EMIs now get deduct also on Banks Holidays

NACH, or the National Automated Clearing House, was a system introduced by the National Payments Corporation of India, for interbank, high volume, electronic transfers, which were periodic in nature. The NPCI introduced NACH as an improvement over the existing Electronic Clearing System (ECS), and consolidate multiple ECS systems running all over…

Finance

CIBIL Score Calculation and Its Importance for Financial Health

SBI MSME Loans: Empowering India’s Small and Medium Business

Credit Guarantee Scheme for Micro & Small Enterprises (CGTMSE)

RBI Fair Practice Code: Now Interest will be charge by Lenders from the date of receipt of funds in Bank Account

Deemed Resident as per Section 6(1A) Income Tax Act

One Person Company (OPC) in India

Non Payment of Income Tax cannot be termed as Tax Evasion – Madras HC

RERA Gujarat (GUJRERA) – Know About RERA Gujarat Before Buying a House in 2024!

Seller’s Home Loan Balance Transfer with Bank/NBFCs

RBI IMPLEMENTS STRICTER MEASURES ON CONSUMERCREDIT AND NBFCS

Home Loans & Its Benefits

The Insolvency and Bankruptcy Board of India (IBBI) proposes changes to rules for insolvency resolution process in Realty Projects

Personal Data Protection Bill passed in Rajya Sabha

Partition of HUF

Master Circular by RBI for Urban Co-Operative Bank for Income Recognition, Asset Classification, Provisioning and Other Related Matters

REMEDIES AVAILABLE TO THE BORROWERS UNDER SARFAESI ACT 2002

What is Bonds & Types of Bonds

Why We Need to Execute & Registered WILL in India

What is NACH & ENACH. EMIs now get deduct also on Banks Holidays

Delhi High Court Upholds Reassessment by Jurisdictional AO – Distinguishes from Hexaware Ruling

CIBIL Score Calculation and Its Importance for Financial Health

SBI MSME Loans: Empowering India’s Small and Medium Business

Newsletter

Contact us

Connect

Finance

Newsletter

Contact us

Connect

Subscribe to our newsletter