Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

No. As the money belongs to the minor child and not the banks' staff, additional interest cannot be paid. Read More

Posted on 28 Feb 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

Banks are permitted to offer differential rates of interest on NRE term deposits as in the case of domestic term deposits of Rs.15 lakh and above. Read More

Posted on 28 Feb 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

To open a bank account, one needs to submit a ‘proof of identity and proof of address’ together with a recent photograph. Read More

Posted on 28 Feb 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

The Base Rate system has replaced the erstwhile Benchmark Prime Lending Rate system with effect from July 1, 2010. Base Rate shall include all those elements of the lending rates that are common across all categories of borrowers. Banks may choose any benchmark to arrive at the Base Rate for a specific tenor that may be disclosed transparently. Banks are free to use any methodology, as considered appropriate, provided it is consistent and is made available for supervisory review/scrutiny, as and when required. Banks may determine their actual lending rates on loans and advances with reference to the Base Rate and by including such other customer specific charges as considered appropriate.3. Banks are required to review the Base Rate at least once in a quarter with the approval of the Board or the Asset Liability Management Committees (ALCOs) as per the bank’s practice. Since transparency in the pricing of lending products has been a key objective, banks are required to exhibit the information on their Base Rate at all branches and also on their websites. Changes in the Base Rate should also be conveyed to the general public from time to time through appropriate channels. Banks are required to provide information on the actual minimum and maximum lending rates to the Reserve Bank on a quarterly basis, as hitherto. Read More

Posted on 28 Feb 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

Under section 154 of Evidence Act, permission may properly be granted to a party to cross examine a witness of his over if the witness has given evidence unfavorable to the party, calling him, is correct there can be no stronger case of witness being unfavorable to a party than where the witness, by previously making a statement in favour of the party, has induced him to call him as his witness. Certain other provisions of the Indian Evidence Act, 1872, govern the use of such statements in a criminal trial, and thereby merit our attention. Section 141 of the Indian Evidence Act, 1872 defines leading questions, whereas Section 142 requires that leading questions must not be put to witness in an examination-in chief, or in a re-examination, except with the permission of the Court. The court can however permit leading questions as to the matters which are introductory or undisputed or which in its opinion have already been sufficiently proved. Section 154 authorizes the court in the discretion to permit the persons who call a witness to put any quest to him which might be put in cross examination by other party. Read More

Posted on 31 Mar 2016 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

Retrospective statue cannot be applied unless and until there is/are specific directives from the government or any Government Regulation is passed to that effect. Read More

Posted on 13 Apr 2016 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

The Challans are available on the website http://www.incometaxindia.gov.in. Challans are also available at the local Income Tax Offices and also with private vendors Read More

Posted on 26 Feb 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

When you buy a house through a home loan, every EMI you pay towards servicing the loan increases your equity in the house. Once you payoff the loan in full, your equity in the house is 100 per cent. In reverse mortgage, exactly the opposite happens. When you pledge your house for reverse mortgage with a lending institution, your equity in your own house decreases with every disbursal that the lending institution makes to you. Read More

Posted on 16 Mar 2016 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 06 Jan 2020

A writ petition can be filed in the High Court of Delhi for quashing of the demand made by the DDA for the increased cost of the project.Read More

Posted on 22 Jul 2019 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

An Application in Form 44 under rule 122 B along with Fee Challan of Rs. 50,000 and Dossier as per Schedule –Y of Drugs & Cosmetics Rule. Read More

Posted on 21 Feb 2017 | 1 Answer