Limitation Periods for Banking Documents
Limitation periods for legal documents in banking are governed by the Limitation Act, 1963, primarily under Articles 31-43 for negotiable instruments and related contracts. These periods start from specific events like due dates or demands, with extensions possible via acknowledgments or payments under Section 18-19. Banks must track these to enforce recovery suits timely. Key…
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New Income Tax Form Numbers 2026: Quick Guide for Banks
India’s Income Tax Department has released draft rules for 2026, renumbering key forms under the new Income-tax Act, 2025, effective April 1, 2026. This structural update simplifies form references without altering core compliance requirements. Key Form Renumbering The table below maps select old forms to their new numbers as per the draft Income-tax Rules, 2026,…
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Currency is no longer just cash: Understanding What “Currency” Really Means
In the context of the Reserve Bank of India’s forward-looking measures, “currency” refers primarily to the Indian Rupee (INR) — not just as a medium of exchange, but as a strategic instrument for financial stability, economic resilience, and global positioning. Under the guidance of the Reserve Bank of India, currency management today goes far beyond…
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RBI’s Draft Rules for Fair Loan Recovery
The Reserve Bank of India (RBI) has released draft directions on the ‘Conduct of Regulated Entities in Recovery of Loans and Engagement of Recovery Agents’. This move expands and updates existing guidelines, aiming to ensure fair practices across a broader set of institutions. Originally limited to Scheduled Commercial Banks (excluding Regional Rural Banks) and Housing…
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RBI Draft Norms on REIT & InvIT Lending: A Real Estate Game-Changer
The Reserve Bank of India (RBI) has released draft amendment directions allowing commercial banks to lend to Real Estate Investment Trusts (REITs) for the first time, harmonizing rules with Infrastructure Investment Trusts (InvITs) to promote balanced funding for income-generating assets. Key Highlights of the Draft These proposals, announced post the February 6, 2026, Statement on…
How Open Cash Credit and Key Cash Credit differ?
A Cash Credit (CC) account is a credit facility extended to a borrower in the form of running account (like a current account). Under this facility the borrower is permitted to continuously overdraw from his account up to a certain specified amount sanctioned by the bank. This type of funding is provided by banks on…
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