Benami Transaction and Sham Transactions Prohibition of Benami Property Transactions Act, 1988, an act promulgated to prevent and prohibit “Benami” transactions in India on 5th September, 1988. The Act, 1988 has only 9 Sections and not so effective, while preventing and prohibiting “Benami” Transactions. The Act, 1988 previously called The Benami Transactions (Prohibition) Act, 1988.
12 ways to avoid paying more for bank services The country’s top banks could end up paying thousands of crores in tax for the free bank services provided to customers over the past five years. If the tax department’s demand is upheld, customers may be charged for many services in future.
Major Reasons why your Loan Application can be Rejected A house, an MUV, your child’s education, a foreign holiday: you could have myriad reasons for applying for a bank loan. The bank generally considers and clears a loan based on your credit-worthiness. Among the factors contributing to a successful Loan Application would be your credit […]
No proposal to make Aadhaar linkage mandatory for property deals There was no proposal to make Aadhaar linkage mandatory for property transactions, Parliament was informed today. In a written reply in the Lok Sabha, Union Minister of State (Independent Charge) for Housing and Urban Affairs Hardeep Singh Puri, however, said the rural development ministry had […]
Process to link DBT accounts with Aadhaar to be overhauled The government is overhauling the process followed by banks for link DBT accounts with Aadhaar for subsidy payments. It has also temporarily halted the provision of overwriting existing subsidy-linked bank accounts with freshly mapped Aadhaar accounts.
Deadline to link Aadhaar with mobile phone extended till March 31,2018 The Centre on Thursday accepted the Supreme Court’s suggestion to extend the deadline to link Aadhaar with mobile phone from February 6 to March 31, the date now set by the government for seeding Aadhaar in all schemes, including bank accounts.
Forget credit rating – your social media posts may decide whether you will get a loan or not Loan officers at Kotak Mahindra Bank are spending more time in reading your Facebook posts, SMSes and payment data available on your mobile phone to decide credit rating,whether to sanction a loan for you to buy a […]