Factors why Rupee falling against Dollar
The first two decades after independence, India had almost a constant peg against the US dollar at Rs.4.75/$, how the value of Indian Rupee drifted down to present level? In replying to the above question, I would like to add-on how our economy has been time and again battered due to various factors which led…
Read articlePublishing of photographs of declared wilful defaulters
The penal measures that can be taken against wilful defaulters are outlined in RBI circular DBR.CID.BC.No.22/20.16.003/2015-16 dated July 1, 2015. In this regard, RBI made an observation that the Photographs of defaulters/guarantors are published indiscriminately by some of the lending institutions. In this context, the apex bank has directed lending institutions as under. (i) A…
Read articleIncome Declaration Scheme, 2016 – Banks must accept large amount of Cash without any conditions
The Income Declaration Scheme, 2016 has come into effect from June 1, 2016. Under the said scheme, the declarants may pay their tax dues in cash at the Bank counters. In this connection, RBI invites attention to its circular DBOD.No.Leg.BC.38/09.07.005/2008-09 dated August 28, 2008, wherein banks have been advised to ensure that their branches invariably accept…
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Format of a WILL (draft for preparation of a WILL)
There is no prescribed format for a WILL; you can write a WILL in your own language in your own style. It is not necessary that any technical words or terms of art be used, no need to approach a lawyer to prepare a “WILL”, but only that the wording used in the ‘WILL’ shall…
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How to write a WILL?
The term WILL is, defined under Section 2(h) of the Indian Succession Act 1925. It is a declaration in writing by the Testator (A person who makes a will), showing how his/her properties and assets should be distributed after his/her death. The WILL surpasses the succession law on inheritance. The person, whose name is mentioned…
What is the advantage of registering a will?
In terms of section 18 of Registration act, the registration of a WILL is not compulsory. In the case of Ishwardeo Narain Singh vs Kamta Devi ( AIR 1954 SC280), the Supreme Court also held and observed that in a majority of cases wills are not registered and to draw any inference against the genuineness…
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