Bank policies for payment of Interest on overdue deposits and unclaimed balance accounts

Edited and reposted on 02.07.2021: The rate of interest payable by banks on overdue deposits differs depending upon the instances like renewal or non-renewal of the deposit for a minimum stipulated period, death of the depositor before the maturity of the deposit, death of the depositor after the maturity of the deposit, interest payable on…

RBI releases Consultative Document on Regulation of Microfinance

The Reserve Bank of India (RBI) has proposed a slew of measures to protect micro-finance borrowers from over-indebtedness and enable competitive forces to bring down the interest rates. In a consultative document released on Monday, RBI has proposed to remove the ceiling on interest rates for micro-finance lenders, among other key measures. In the Statement…

Now incorporation of a company shall be accompanied by e-form AGILE – PRO-S (INC-35)

The Ministry of Corporate Affairs on 7th June, 2021 has issued the Companies (Incorporation) Fourth Amendment Rules, 2021. The amendment provides that the application for incorporation of a company shall be accompanied by e-form AGILE – PRO-S (INC-35). AGILE – PRO-S stands acronym for Application for Goods and services tax Identification number, employees state Insurance…