Is Bank Account Nominee Legally Necessary in India?
No, appointing a nominee for a bank account is not generally a legal requirement for keeping or opening a bank…
Is Bank KYC Mandatory for Existing Customers in India?
Yes, KYC is mandatory for existing bank customers in India, not only for people opening new accounts. Banks are required…
Is Changing a Bank Account Nominee Legally Allowed in India?
Yes, changing a bank account nominee is legally allowed in India. A bank customer can generally cancel an existing nomination,…
Is Joint Bank Account Operation Legally Restricted in India?
No, operating a joint bank account is not generally legally restricted in India. Two or more people can open and…
Is Cheque Bounce Legal Action Available in India?
Yes, legal action is available in India when a cheque is dishonoured, provided the statutory requirements are satisfied. The primary…
Multi Cap Funds explained: The 25-25-25 rule in simple words!
Mutual fund investors may find terms like large cap, mid cap, small cap, and multi cap confusing when selecting a…
From Hospital Bills to Financial Protection: How Health Insurance Works
Medical care is costly, particularly in case of unexpected hospitalisation. Medical emergencies can create a situation when one needs to…
Is a Post-Dated Cheque Legally Valid in India?
Yes, a post-dated cheque is legally valid in India. It is a cheque bearing a future date and is commonly…
Is Stop Payment of a Cheque Legally Valid in India?
Yes, a cheque holder can instruct a bank to stop payment, but stopping payment does not automatically eliminate the drawer’s…
Is Cheque Forgery a Criminal Offence in India?
Yes, cheque forgery can be a criminal offence in India. Creating, altering, signing, or using a cheque fraudulently may amount…