We all would have heard about virtual money and electronic fund transfers-digital payment methods used widely? Have we? Cryptocurrency which is running in today’s era-a virtual currency is not issued by the Central Government, is secured by cryptography and does not rely on banks to verify transactions. Table of Contents What is Cryptocurrency? Where is…

Table of Content Bare Act General Interpretation Certain Arguments regarding the section BARE ACT. 194-IA. (1) Any person, being a transferee, responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural land), shall, at…

Content What is NIDHI Company? Features of NIDHI Company What are the restrictions on NIDHI Company? What are the key points regarding branches? What are the limits against the deposit made for permitting the loans? What are the various returns required to be filed by NIDHI with ROC? NDH-1 (Return of Statutory Compliances) NDH-2 (Application…

Table of Content Types of Letter of Credit Importance of Letter of credit Element of Letter of credit The Money behind a Letter of Credit When Does Payment Happen? Meaning of terms used to define Letter of Credit Letters of credit are letters that banks issue to verify the credit a business or person has….

Table of Content Are there different types of Non Banking Financial Company (NBFC)? How apply for certificate of registration for a Non Banking Financial Company (NBFC)? Does the Reserve Bank regulate all financial companies? What are returns and/or compliances which are to be done by Non Banking Financial Companies (NBFC)? Can a Non Banking Financial…

Table of Content Main Features of Section-8 Micro Finance Company Loan Limits by Section-8 Micro Finance Company Benefits of Section-8 Micro Finance Company Basic Documents required for Incorporation of Section-8 Micro Finance Company The Micro finance Company is basically the financial institutions that provide small-scale financial services in the form of loan, credit or savings….

Table of Content Nidhi Company Registration General Prohibition What all are allowed to Nidhi Companies Limited RBI Regulations Exemptions and privileges under the Companies Act, 2013 Acceptance of Deposits Loan Returns to be filed by Nidhi Company In the context of the Indian Financial Sector a mutual benefit society is termed as Nidhi Company by…

Guidelines for filing of form NDH-4 (Application for Declaration/ Updation of status of Nidhi) Ministry of corporate affairs came up with some amendments in existing Nidhi Rules, 2014 through a Notification dated 01st July 2019. These rules called as Nidhi (Amendment) Rules, 2019 and came into force with effect from 15 August, 2019. With this…

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