RBI issues Sovereign Gold Bond 2016-17-series IV
The Reserve Bank of India has notified to issue Sovereign Gold Bonds 2016-17 – Series IV. Applications for the bond will be accepted from February 27, 2017, to March 3, 2017. The Bonds will be issued on March 17, 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated…
Read article
How to compute the period of limitation for personal-guarantee?
The law of limitation means the time-limit for different suits within which an aggrieved person can approach the court to obtain a decree against the principal debtor and surety. The different time limit or period of limitation is prescribed for different types of suits, appeals, or applications in the ‘Schedule’ to the Limitation Act, 1963.…
Read article
Features of Bharat QR code based payments
What is QR code? QR code stands acronym for Quick Response code made up of black and white squares. These two-dimensional codes can be read by the camera of a smartphone and they are used for storing URLs and other information. What is the Bharat QR code? The Bharat QR code is low cost, interoperable…
Read article
Circumstances that may discharge Guarantor from all liabilities
Definition of Guarantee: A contract of guarantee means a contract to perform the promise or discharge liability of the third person in case of his default. A guarantee which extends to series of transactions is called continuing guarantee. The meaning of Surety (Guarantor), principal debtor, and creditor: The person who gives the guarantee is called…
Read article What is the time limit for enforcement of a bank guarantee?
(The law of limitation applicable to a general guarantee and the guarantee issued by banks and financial institutions are different. This article explains the law of limitation explicitly applicable to bank guarantees, invocation and cancellation of bank guarantees) The law of limitation of time means the time-limit for different suits within which an aggrieved person…
Restriction on Cash withdrawal limits from bank and ATM to go: RBI
The Reserve Bank of India (RBI) today Feb 8, 2017 (Wednesday) announced that all restrictions on cash withdrawal from savings bank account will be removed in two phases.In the first phase, the withdrawal limit will be raised to Rs 50,000 from existing Rs 24,000 a week, effective February 20. In the second phase, from March…
Read article