raksha-bandhan

Rakhi is basically a sacred thread of Rakhi is basically a sacred thread of protection embellished with the love and affection of a sister for her brother. This day is also known as Raksha Bandhan and celebrated on the full moon day of the Hindu month of Shravana in India. This frail of thread of Rakhi is considered as stronger than iron chains as it binds the most beautiful relationship in an wish_you_happy_raksha_bandhan_wallpaperinseparable bond of love and trust. Rakhi festival also has a social significance because it underlines the notion that everybody should live in harmonious coexistence with each other.

Not a single festival in India is complete without the typical Indian festivities, the gatherings, celebrations, exchange of sweets and gifts, lots of noise, singing and dancing. Raksha Bandhan is a regional celebration to celebrate the sacred relation between brothers and sisters.

Real Estate Regulatory Bill 2015 Full Details with Pros & Cons

Real Estate Regulatory Bill 2015 Full Details with Pros & Cons: On 5th June, 2013 the union government of india passed this Real Estate Regulatory Bill in order to maintain transparency and justice in Real Sector of India. In fact, Real Estate Sector in india a great sector since it deals with the shelters of several people in India. As per the norms given by the government, this Real Estate Regulatory Bill Applicable only for Residential Projects and Economical, Commercial Projects were excluded from this Bill. It’s a great Initiatory by government in order to skill scams in Real Estate Sector. In fact, this Bill will help Common people to keep them away from Frauds and Cheating.

What exactly Real Estate Regulatory Bill is?

As per the statement given by government, Real Estate Regulatory Bill is “A Bill to establish the Real Estate Regulatory Authority for regulation and planned development in the real estate sector and to ensure sale of immovable properties in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and establish an Appellate Tribunal to adjudicate disputes and hear appeals from the decisions or orders of the Authority and for matters connected therewith or incidental thereto.”

Real Estate Regulatory Bill 2015 Full Details with Pros & Cons
Real Estate Regulatory Bill 2015 Full Details with Pros & Cons

This bill has great value and important for common people. With this Bill, there are advantages as well as disadvantages. Overall, this bill helps to maintain consistent environment between Buyer and a Developer. Though the bill has Pros and Cons for Buyers as well as Developers. Since I have chosen to discuss the Pros and Cons of Real Estate Regulatory Bill in the aspects of both buyer and Developer.

PROS CONS
·         In time Delivery to Buyers:  Earlier, the real estate Developers won’t consider of delivering flats in a pre-assigned time. Few of the Builders will make a year or two years delay to deliver flats to the buyers. But As per the norms of the Real Estate Regulatory Bill, One Builder should deliver Flat in a fixed time. There shouldn’t be any delay in Delivering flats to the buyer!
if
In case there is a long delay in delivery of flats then the builder must refund the money to buyers with interest·         Exact Project Disclosure: It’s a very common issue faced by Buyers. As the Builders initially mention that they are gonna provide ultra modern facilities before Buyer commits to buy, after buyer commits to buy and completes registration, then they realize that lot of things missing in that flat. This means complete irrelation between Existed Project to the Project Disclosure. So Builders must provide genuine information when they meet buyer, and the exact plan blue print must be given to the buyer, if any builder failed to do so then 10% of money from the project should be refunded to the buyer and three year imprisonment to the builder

·         Giving detail information of each and everything to the Buyer, which is nothing but doing justice to the money they are spending.

·         Different Bank accounts for Different Projects: It’s a common practice among developers to raise funds from buyers in the pre launch offer and then utilizing the fund for buying land for other projects or engagements, but not using it in current project. Now, with this bill it’s mandatory to maintain separate bank accounts for each project and transactions need to be maintained. Diversion of funds from one project to another will not be permitted. Developers / builders have to put aside 70 per cent of the proceeds of a particular project in a separate bank account which will help to fund the project and leads to complete it on schedule time.

·         This Bill Applicable to Future projects, and new projects only. Projects which are taken in the past are excluded from this bill. Though it is a legit thing but the buyers may feel unsatisfactory, still the government had to think from the side of builders as well. Government passed bill recently, if it is applied to past projects then it will be huge loss to builders.

·         Due to the policies in the Bill builders may get losses. Since to build a flat, Builder must take liable and required permissions from the government officials. If it takes time then constructional delay’s take place, resulting a big loss to Buyer. Since, the bill itself says In time Delivery to Buyers, if government makes delay in giving permission then builder has to face loss and as per the bill he had to refund the money to buyers with INTEREST. It’s like a curse to Builders and developers.

·         The Major CON OF Real Estate Regulatory bill is Registration with the regulator won’t be mandatory for projects less than 4000 sq mt. So, many small developers across metros like Mumbai, Bangalore, etc will escape from registration and government regulator’s control.� In these metro cities, project areas tend to be smaller due to lack of large land parcel

 

 

 

 

Though the Real Estate Regulatory Bill 2015 Full have some Pros & Con, I agree to go with the Bill, in fact it ain’t gonna affect whole Real Estate System, this gonna do justice to common people, and if you ask me then I recommend few suggestions in the bill and in fact, it’s a legit bill. Big thumbs up for Shri Narendra Modi ji making this available now. If it implemented so we can see less frauds and losses in the field of Real Estate. Do let us know your opinion on this Real Estate Regulatory bill.

So if you have any question related to Real Estate Regulatory Bill 2015 Full Details with Pros & Con then feel free to ask question from us via comments. 

Pradhan Mantri Jan Dhan Yojana Scheme Benefits, Eligibility with Details

Pradhan Mantri Jan Dhan Yojana Scheme Benefits, Eligibility with Details: Pradhan Mantri Jan Dhan Yojana is launched this scheme on the 28th August 2015 in all over the world.  The main purpose of the PMJDY is Financial Inclusion to ensure access to financial services, namely Banking Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. Well we know that PMJDY is a National Mission and Prime Minister has launched this scheme on his first Independence Day speech on 15 August 2014.This scheme Pradhan Mantri Jan Dhan Yojana include in the financial inclusion, which means provide the banking facilities to the poor people’s,  so this campaign was launched by the Prime Minister Narendra Modi on 28 August 2014.

This scheme is run by the Department of Financial Services, Ministry of Finance, It has been noticed that on the inauguration day, 1.5 Crore (15 million) bank accounts were opened under this scheme which has been a remarkable achievement for the government of India. People was eager to open their account in across the whole country because the account was being opened on the zero balance. Moreover Indian Government were also providing the some other benefits to the account Holders. 

Pradhan Mantri Jan Dhan Yojana Benefits

  1. Under the Pradhan Mantri Jan Dhan Yojana, Account holders will be provided zero-balance bank saving account with RuPay debit card, Rupay Debit card means he can buy things via this card, in addition to accidental insurance cover of 1 lakh will be give to the account holder by HDFC.
  2. Those people who will open accounts by 26 January 2015 over and above the 1 lakh (US$1,500) accident claim will also be given life insurance cover of 30,000 to be given by Life Insurance Company.
  3. After Six months of opening of the saving bank account, holders can avail5,000 overdraft from the bank.
  4. The noticing point is that with the introduction of new technology introduced by National Payments Corporation of India (NPCI), a person can transfer funds, check balance through a normal phone which was earlier limited only to smartphones so far.
  5. Mobile banking for the poor would be available through National Unified USSD Platform (NUUP) for which all banks and mobile companies have come together.
  6. Bank account can be opened on behalf of the 10 years old male/female, in that case nominee will be the father and mother of that child.
  7. If anyone have old account in specific bank then he can replace that account with Pradhan Mantri Jan Dhan Yojana bank account and can avail the benefits.

Process of open Bank Account under Jan Dhan 

However it’s not that much complicated to get a bank account under Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme. All you need is just proofs which can show and prove your residence, and date of birth. The cost of getting bank account under Pradhan Mantri Jan Dhan Yojana is absolutely zero. Yeah, you need not to spend a single penny to take a account under Pradhan Mantri Jan Dhan Yojana, by the way in return they offer you free life insurance which can be valid up to one year, and the claim amount is minimum 30,000 INR.

Many people does recently asked me How can i open my Bank account under Jan dhan scheme? It’s not much difficult to acquire them so, all you need to do is

  • Download the Application form available in the internet
  • Fill the form with exact details matching with your identity proofs.
  • and attach xerox copies of proofs to your Application form

Finally visit bank with the form you filled,and there contact any bank employe or even you can contact Branch Manager directly in order to get the Zero bank bank account with Insurance offer. This is absolutely zero cost and can be used anywhere, and wherever you want to use. You can use the account you got under Pradhan Mantri Jan Dhan Yojana as your savings account such that you can save money in your zero balance for free for lifetime without any issues.

Bank account under Pradhan Mantri Jan Dhan Yojana is completely legal and applicable at each every place including LPG, and in other places as well. Tons of thanks to the great prime minister Shri Narendra Damodar Das Modi for providing such a great platform for each and everyone to stay connected with banks. and this scheme is absolutely available in all Nationalized Banks.  

Can we open Joint Account in Jan-Dhan?

Yes, joint account can be opened under Pradhan Mantri Jan Dhan Yojana it is the pretty most thing facilitated by the ministry of india. We really appreciate the government of india for providing such forward step in order to make people to stay connected with banks.

It has everything, you will get a debit card for free. you will get accident insurance and normal insurance as well for free. And joint account facility is enabled to help adults and minors as well.

Pradhan Mantri Jan Dhan Yojana Scheme Benefits, Eligibility with Details
Pradhan Mantri Jan Dhan Yojana Scheme Benefits, Eligibility with Details

Can Existing Account Holder can avail Benefits ? 

Yes, An existing account holder need not open another bank account to avail of benefits under Pradhan Mantri Jan Dhan Yojana (PMJDY). The insurance benefits are available through the RuPay Card. The existing account holders can submit an application to the concerned branch to enable them to get a RuPay Debit Card in order to avail of the benefits of insurance under PMJDY.

Can we take Loan under Jan dhan Yojana Scheme?

Yes, People who have bank account under Pradhan Mantri jan dhan yojana scheme can get all kinds of loans like a people who have normal bank account. No special terms and conditions for people who got bank account under Pradhan Mantri jan dhan yojana scheme. The thing is you have to show required proofs, and properties so that it is easier for you to get loan to your bank account which got for free under Pradhan Mantri jan dhan yojana scheme. Well many people do admire that they got their bank account under free scheme, with zero balance and they have insurance as well but they don’t have right to take loan for further studies or for homes or vehicles. 
It has been officially said by Pradhan Mantri jan dhan yojana scheme policy that, if you are planning to start your own business or company, and if you need bank finance or loan, then you have to apply for loan with proper documents and application form. 
If you want to get loan for your business, company or service under Pradhan Mantri jan dhan yojana scheme then follow the following steps and do accordingly.
1. First of all go to bank in which you are planning to apply for loan, and note down all the requirements to get a loan. If possible consult bank manager and clear all your doubts in detail
2. Later study all the policies and requirements of the bank in detail so that you won’t get problem in future. 
3. Now Get an application form from the bank and fill the form accordingly and attach your proofs and documents carefully, because documents are everything to you and your property. I guess you might know what kind of document proofs you should submit in banks in order to stay away from issues and complications in future. 
4. After all completing formalities, visit the bank. There they ask you for surety signatures, so kindly prepare with the persons who can give assurance for your bank loan. 
5. When you complete all the formalities, then it’s turn of bank now. They verify each and everything. Your proofs, properties, documents and everything. Be prepared to face each and everything. And finally when you are verified officially, then you are done! your loan will get sanctioned

 

What is special advantage of RuPay Debit Card?

ANS : It provides accidental insurance cover upto Rs.1.00 lac without any charge to the customer.

Whether illiterate customers can be issued RuPay Card?

ANS : Yes. However, Branch Manager will have to advise all the related risks to the illiterate account-holder at the time of issuance of RuPay Card.

Some More Question Asked by People:

Q) Does a person already having a Bank account in any bank needs to open another account under Pradhan Mantri Jan-Dhan Yojna (PMJDY) to get the Accidental Benefit/Life Insurance Benefit under the Scheme?

A) : A person who is already having a bank account with any bank NEED NOT to open a separate account under PMJDY. He/she will just have to get issued a RuPay Card in his existing account to get benefit of insurance. Credit facility can be extended in the existing account if it is being operated satisfactorily.

Q) What is the concept of overdraft of Rs.5000/- in PMJDY Account and for whom this facility is available?

A) : Overdraft facility upto Rs.5000/- will be available to one account holder of PMJDY per household after 6 months of satisfactory conduct of the account. To avoid duplication Aadhaar number will also be required. If Aadhaar number is not available then Bank will do additional due diligence and also seek declaration from the beneficiary.

Q) Whether Overdraft facility can be availed in more than one account?

A) : Overdraft facility upto Rs.5000/- is available in only one account per household, preferably lady of the household.

Q). What is Accidental Insurance Cover? Who will pay the premium ?

A) : Accidental Insurance Cover is Rs.1.00 lac and no premium is charged to the beneficiary — NPCI will pay the premium. At present the premium is Rs.0.47 per Card.

Q). If both husband and wife who are opening accounts under PMJDY are eligible for Accidental Insurance Cover of Rs.1.00 lac and Life Insurance cover of Rs.30,000/- and overdraft facility of Rs.5000/- in both the accounts separately?

A): Accidental Insurance cover of Rs.1.00 lac and Life Insurance Cover of Rs.30000/- will be available to all account-holders. However, overdraft facility upto Rs.5000/- will be available to only one person in the family (preferably lady of the house).

Q). What documents are required to open an account under Pradhan Mantri Jan-Dhan Yojana?

A) : (i) If Aadhaar Card/Aadhaar Number is available then no other documents is required. If address has changed, then a self certification of current address is sufficient.

(ii) If Aadhaar Card is not available, then any one of the following Officially Valid Documents (OVD) is required: Voter ID Card, Driving Licence, PAN Card, Passport & NREGA Card. If these documents also contain your address, it can serve both as “Proof of Identity and Address”.

(iii) If a person does not have any of the “officially valid documents” mentioned above, but it is categorized as ‘low risk’ by the banks, then he/she can open a bank account by submitting any one of the following documents:

a) Identity Card with applicant’s photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks and Public Financial Institutions;

b) Letter issued by a gazette officer, with a duly attested photograph of the person.

 

Q). If the present address is different than that of printed on Aadhaar Card, can the account still be opened under Pradhan Mantri Jan Dhan Yojana on the basis of Aadhaar Card?

A) : If address has changed, then a self certification of current address is sufficient.

Q). What is meant by Insurance cover of Rs.30,000/- announced by Prime Minister in his speech of 28.08.2014?

A) : Modalities of this Scheme announced by the Prime Minister on 28.08.2014 are being worked out expeditiously and will be disseminated to General Public very soon.

Q). Whether Cheque Book will be issued in accounts opened under PMJDY?

A) : In PMJDY accounts are being opened with Zero balance. However, if the account-holder wishes to get cheque book, he/she will have to fulfill minimum balance criteria, if any, of the bank.

Q). What are the direct / special benefits attached to PMJDY?

A) : Special benefits attached to the scheme are:

  • Interest on deposit.
  • Accidental insurance cover of Rs.1.00 lac
  • No minimum balance required. However, for withdrawal of money from any ATM with Rupay Card, some balance is advised to be kept in account.
  • Life insurance cover of Rs.30,000/-
  • Easy Transfer of money across India
  • Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
  • After satisfactory operation of the account for 6 months, an overdraft facility will be permitted
  • Access to Pension, insurance products.
Q). I have no official valid document for opening an account. Can I still open an account with bank?

A) : Reserve Bank of India (RBI) vide its Press Release dated 26.08.2014 has clarified as under:

“Those persons who do not have any of the ‘officially valid documents’ can open “Small Accounts” with banks. A “Small Account” can be opened on the basis of a self-attested photograph and putting his/her signatures or thumb print in the presence of an officials of the bank. Such accounts have limitations regarding the aggregate credits (not more than Rupees one lac in a year), aggregate withdrawals (nor more than Rupees ten thousand in a month) and balance in the accounts (not more than Rupees fifty thousand at any point of time). These accounts would be valid normally for a period of twelve months. Thereafter, such accounts would be allowed to continue for a further period of twelve more months, if the account-holder provides a document showing that he/she has applied for any of the Officially Valid Document, within 12 months of opening the small account.

Q). How much interest savings would earn in PMJDY Account?

A) : Interest rate applicable for Saving Bank Accounts (presently @ 4 % in most of the banks) shall be admissible to accounts opened under PMJDY Scheme.

Q). How much interest will be charged by bank on overdraft facility in PMJDY?

A) : Base Rate + 2 % or 12 %, whichever is lower. At present it will be 12 %.

Q). Do you have to pay some fee to open a Bank account under PMJDY?

A) : Rs.20/- will be charged from 1st April 2015 onwards from customers for opening account under BC channel uniformly in all areas.

Q). Can a minor (below 18 years of age) can open an account under PMJDY?

A) : A minor of above the age of 10 years can open his / her Savings Bank account in any bank.

Q). Can I get my PMJDY account transferred to other City / State upon my transfer posting to other States?

A): All banks participating in PMJDY are on CBS (Core Banking Solution) platform and the account can easily be transferred to any branch of the bank in any city/town as per the request of the account-holder.

Note : Mostly Frequently asked question are copied from the Sbi.com 

Recent Update

According to some survey, By 10 February 2016, over 20 crore (200 million) bank accounts were opened by the people of india and 323.78 billion (US$4.8 billion) were deposited under the scheme. So we guess that it was good scheme.

The main purpose of the Pradhan Mantri Jan Dhan Yojana scheme was Financial Inclusion and provide bank facilities to the poor people. Moreover the mostly banks has also mandatory Adhar card for opening the bank account as identity proof, because Aadhar Card linked bank account will help the government to sending the subsidised money to the account holder accounts. So if you have any question regarding the Jan Dhan Scheme then please ask your question through comment we will solve your query immediately because our main purpose is to help common people regarding this scheme.

Whether Joint account can be opened in Pradhan Mantri Jan-Dhan Yojana?

Whether Joint account can be opened in Pradhan Mantri Jan-Dhan Yojana?: As per the terms and policies of Pradhan Mantri Jan Dhan Yojana, we have information saying that Majority of nationalized banks approve joint account but some banks does not accept. Below is the reason and solution, terms, features and policies of Pradhan Mantri Jan Dhan Yojana. Kindly read this post about Whether Joint account can be opened in Pradhan Mantri Jan-Dhan Yojana below to get solution to your query.

What exactly a joint account?

Joint account is given to those who are minors but they still need a bank account in order to get their scholarship or to avail any benefit they must need a bank account. but according to the bank rules and regulations, an savings account or finance account should not be awarded to a minor. So there is an alternative which is created by bank people in order to help minor’s to get a bank account. The facility came out from the bank says, that if a minor does need a bank account badly for his works then he can apply for joint account, in which the account the should be operated by his guardian as well. Both persons in a joint account does have equal rights on the account, the minor must be liable to his guardian while doing any kind of transaction.

Even joint account not only limited to Kids but also awarded to adults as well. For example consider a situation. You are going to establish a company, or any organisation with your partner, and you are not willing to give entire money responsibilities to your partner, even your partner thinks the same. Finally they clash for the rights of handling bank account. So to overcome this issue, bank also gave this facility to provide joint account to adults, with which both have equal rights on a bank account and both should do signature while doing any sort of transaction. Which is a good thought by banks.

Whether Joint account can be opened in Pradhan Mantri Jan-Dhan Yojana

Whether Joint Account Can Be Opened in Pradhan Mantri Jan-Dhan Yojana
Whether Joint Account Can Be Opened in Pradhan Mantri Jan-Dhan Yojana

Pradhan Mantri Jan Dhan Yojana (PMJDY) is a nationwide scheme launched by Indian government in August 2014. This is the great scheme implemented by prime minister of india. Yes, joint account can be opened under Pradhan Mantri Jan Dhan Yojana it is the pretty most thing facilitated by the ministry of india. We really appreciate the government of india for providing such forward step in order to make people to stay connected with banks

Overall you people are getting with Pradhan Mantri Jan Dhan Yojana. It has everything, you will get a debit card for free. you will get accident insurance and normal insurance as well for free. And joint account facility is enabled to help adults and minors as well. This scheme really wonderful, and let us know a bit more about the Pradhan Mantri Jan Dhan Yojana scheme in a below paragraph. It is an bonus information given to you in order to help you what exactly Pradhan Mantri Jan Dhan Yojana can do for you!

An existing account holder need not open another bank account to avail of benefits under Pradhan Mantri Jan Dhan Yojana (PMJDY). The insurance benefits are available through the RuPay Card. The existing account holders can submit an application to the concerned branch to enable them to get a RuPay Debit Card in order to avail of the benefits of insurance under PMJDY.

How Can I open My Bank Account under Jan Dhan Yojana Scheme

How Can I open My Bank Account under Jan Dhan Yojana Scheme:  Pradhan Mantri Jan Dhan yojana is a new scheme implemented by Prime minister india in order to make every adult in india to hold a bank account so that they get benefited with the schemes and services provided by the Banks which are completely to many people. So we are going write full process regarding How to open My Bank Account under Jan Dhan Yojana Scheme, so read it carefully. In fact no one aware of benefits which comes through a bank. In order to make people aware, and to claim the services and opportunities provided by the bank, Prime Minister Shri Narendra Damodar Das Modi started the scheme named Pradhan Mantri Jan Dhan Yojana (PMJDY). Here i am helping you out with the query How can i open my Bank account under Jan dhan scheme.

Pradhan Mantri Jan Dhan Yojana is a new scheme implemented by the Prime minister of india in order to connect people with banks so that they can save their savings from their hard earned money. But if the same thing is expressed with people, then no one will show interest to take bank accounts because they can’t find benefit of having a Bank account when they can save independently so, to make people aware and keep them connected with all class people of india, prime minister of india implemented a new scheme which make people aware and attract towards the benefits of having a bank account, which furtherly help them to get a bank account. Keep reading to know How can i open my Bank account under Jan dhan scheme. We wrote everything in detail.

How Can I open My Bank Account under Jan Dhan Yojana Scheme
How Can I open My Bank Account under Jan Dhan Yojana Scheme

However it’s not that much complicated to get a bank account under Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme. All you need is just proofs which can show and prove your residence, and date of birth. The cost of getting bank account under Pradhan Mantri Jan Dhan Yojana is absolutely zero. Yeah, you need not to spend a single penny to take a account under Pradhan Mantri Jan Dhan Yojana, by the way in return they offer you free life insurance which can be valid up to one year, and the claim amount is minimum 30,000 INR.

Many people does recently asked me How can i open my Bank account under Jan dhan scheme? It’s not much difficult to acquire them so, all you need to do is

Process of opening Bank Account under Jan Dhan Yojana Scheme

  • Download the Application form available in the internet
  • Fill the form with exact details matching with your identity proofs.
  • and attach xerox copies of proofs to your Application form

Finally visit bank with the form you filled,and there contact any bank employe or even you can contact Branch Manager directly in order to get the Zero bank bank account with Insurance offer. This is absolutely zero cost and can be used anywhere, and wherever you want to use. You can use the account you got under Pradhan Mantri Jan Dhan Yojana as your savings account such that you can save money in your zero balance for free for lifetime without any issues.

Bank account under Pradhan Mantri Jan Dhan Yojana is completely legal and applicable at each every place including LPG, and in other places as well. Tons of thanks to the great prime minister Shri Narendra Damodar Das Modi for providing such a great platform for each and everyone to stay connected with banks. and this scheme is absolutely available in all Nationalized Banks. 

So friend if you find any difficulty during opening a bank account then you can ask us via comments we will try to solve your all queries.