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The Child Marriage Restraint Act was a legislative act passed on 28 September 1929. The act fixed the marriageable age for girls at 14 years and 18 years for boys. It is popularly known as the Sharda Act after its sponsor, Harbilas Sarda. The Prohibition of Child Marriage Act, 2006, presently sets the marriageable age to be 18 and 21 for boys and girls respectively. Overview of the Child Marriage Restraint Act Child Marriage Restraint Act, 1929 Long Title An Act to define the age of marriage in India Territorial Extent The whole of British India, with Princely states being exempted. Enacted by Imperial Legislative Council Enacted 28 September 1929 Commenced 29 September 1929 Status Amended How was the Child Marriage Restraint Act Formed? Various bills addressing questions on the age of consent were introduced in the Indian legislatures and defeated. The All India Women’s Conference, Women’s Indian Association and National Council of Women in India, through their members developed and articulated the argument in favour of raising of the age for marriage and consent before the Joshi Committee. Muslim women presented their views to the Joshi Committee in favour of raising the age limit of marriage even when they knew that they would face opposition from Muslim Ulemas. The Joshi Committee presented its report on 20 June 1929 and was passed by the Imperial Legislative Council on 28 September 1929 and became a law on 1 April 1930, after approval from Lord Irwin extending to the whole of British India. It fixed 14 and 18 as the marriageable age for girls and boys respectively of all communities. Objectives of the Act The primary object of the Act is to prohibit solemnization of child marriage. This Act is armed with enabling provisions to prohibit child marriages and provide relief to victims and enhance punishment for those who abet, promote or solemnise such marriages. As per the act, the age of marriage for boys is 21, and for girls, it is 18, and any marriage of people below this age will be considered as a child marriage which is illegal, an offence and is punishable under the law. The below following are the objectives of this legislation The Act makes child marriage voidable. The Act also allows for maintenance and residence for the girl till her remarriage from the male contracting party or his parents. All the punishments contemplated under the Act are quite enhanced as compared to the 1929 Act. What is the significance of the Child Marriage Restraint Act? The Child Marriage Restraint Act was the first social reform issue taken up by an organized women’s group in India. This group pressured many politicians into supporting the act by picketing their delegations, holding placards, and shouting slogans. They believed that the passing of this act would show the world that India is serious about social reforms. By showing support for this act, women in India were challenging the double standards of the ancient Shastras. Declaring they would begin to make their own laws, free of male influence, the women’s organization brought liberal feminism to the forefront. Although this was a victory for the women’s movement in India, the act itself was a complete failure. In the two years and five months, it was an active bill, there were 473 prosecutions, of which only 167 were successful. The list goes on with 207 acquittals, with 98 cases still pending during August 1932. Out of the 167 successful prosecutions, only 17 or so did either all of or part of their sentence. The majority of cases were in Punjab and the United Provinces. However, the Act remained a dead letter during the colonial period of British rule in India. As per Jawaharlal Nehru, this was mainly because the British colonial government did nothing to propagate awareness of it, especially in smaller towns and villages of India. In his autobiography, Nehru elucidates that this was largely due to the fact that the British did not want to earn the displeasure of the communal elements among the Hindus and Muslims. In the 1930s, the only parties in India that continued to support British rule were these communal groups. The British government did not wish to lose its support. Hence, they completely avoided implementing this and similar social reforms, instead of focusing their attention on preventing the Indian freedom movement. Thus, their infamous “Dual Policy” prevented any significant social reform in India. Implementation of the Act Prevention The law seeks to prohibit child marriages by making specific actions punishable and by appointing certain authorities responsible for the prohibition and prevention of child marriages. These persons are responsible for ensuring that the Act is implemented. Child Marriage Prohibition Officers (CMPO) are to be appointed in every state to prohibit child marriages, ensure the protection of the victims as well as prosecution of the offenders. The Act lays down penal provisions for those who solemnise child marriages. The Prohibition of Child Marriage Act, under section 11 provides punishment for those who permit and promote child marriages. Protection The law provides for all support and aid including medical aid, legal aid, counselling and rehabilitation support to children once they are rescued. It gives legal status to all children born from child marriages and makes provisions for their custody and maintenance. It provides for the residence and maintenance of the female contracting party. Prosecution of Offenders The law provides for punishment for a male above 18 years of age marrying a child. The Child Marriage Prohibition Officer has been empowered to provide necessary and legal aid to victims of child marriage and to produce children in need of care and protection before the Child Welfare Committee or a First Class Judicial Magistrate, where there is no Child Welfare Committee. Child Marriage Prohibition Officers A child marriage prohibition officer is deemed a public servant in this act. The Child Marriage Prohibition Officer (CMPO), who is responsible for ensuring no child marriage, takes place in their jurisdiction by approaching the courts for

Road Tax in Bihar is governed by the state transport department. The amount that is paid as tax is computed based on a number of factors including fuel type, vehicle age, weight, engine capacity and seating capacity among several other factors. Purchasing a vehicle is the dream of many Indians, with an upgrade constantly on our minds. While most companies provide the ex-showroom price of a vehicle, the ultimate cost of owning and registering it is higher, on account of road tax imposed by different states. The road tax in Bihar (Capital City: Patna) is governed by the Transport department, with Regional transport offices across the state registering new vehicles. With the number of vehicles on the road increasing every day, road tax becomes an important revenue source for a government to improve the roads in their state. Bihar Road Tax Vehicle-owning citizens in Bihar must pay the road tax on time. The money collected from the road taxes allows the government to carry out various developmental projects in the state, like building new roads for enhanced connectivity, improving public transportation within the cities, repairing old roads, etc. The Bihar road taxis to be paid by vehicle owners while they are registering their cars at the Regional Transport Office (RTO). The tax can be paid all at once on a lifetime basis or according to three plans, which are: Monthly Quarterly Annual Bihar Road Tax Calculation The Bihar road tax is calculated keeping the below-mentioned factors in mind: Vehicle type (two-wheeler, three-wheeler, or four-wheeler) The seating capacity of the vehicle (for instance, tax varies for five-seater cars and seven-seater cars) The age of the vehicle The engine capacity of the vehicle Usage of the vehicle (personal or commercial) Road Tax in Bihar for Two-Wheelers In Bihar, tax charges on two-wheelers are imposed based on their price range: Price Range of the Vehicle Road Tax Imposed Less than Rs. 1 Lakh 8% on the total cost of the vehicle Rs. 1 Lakh – Rs. 8 Lakhs 9% on the total cost of the vehicle Rs. 8 Lakhs – Rs. 15 Lakhs 10% on the total cost of the vehicle Above Rs. 15 Lakhs 12% on the total cost of the vehicle Road Tax in Bihar for Three-Wheelers Three-wheeler vehicles like autorickshaws fall into the commercial vehicle category. The road tax charges imposed on three-wheelers are based on the age of the vehicle. Time Period Road Tax Price Imposed 0 – 5 years Rs. 6,000 5 – 10 years Rs. 6,700 10 – 15 years Rs. 10,000 Road Tax in Bihar for Four-Wheelers Similar to two-wheelers, tax charges on four-wheelers in Bihar are also imposed based on their price range: Price Range of the Vehicle Road Tax Imposed Less than Rs. 1 Lakh 8% on the total cost of the vehicle Rs. 1 Lakh – Rs. 8 Lakhs 9% on the total cost of the vehicle Rs. 8 Lakhs – Rs. 15 Lakhs 10% on the total cost of the vehicle Above Rs. 15 Lakhs 12% on the total cost of the vehicle Road Tax for Commercial Vehicles in Bihar For four four-wheeler vehicles in Bihar which fall under the commercial category like taxis, cabs, etc., the following charges are applicable, based on their price range: Price Range of the Vehicle Road Tax Imposed Less than Rs. 1 Lakh 8% on the total cost of the vehicle Rs. 1 Lakh – Rs. 8 Lakhs 9% on the total cost of the vehicle Rs. 8 Lakhs – Rs. 15 Lakhs 10% on the total cost of the vehicle Above Rs. 15 Lakh 12% on the total cost of the vehicle For bigger commercial vehicles like vans, maxi cabs, etc., the road tax price is determined depending on the seating capacity: Seating Capacity of the Commercial Vehicle Ordinary Vehicle Semi-Deluxe Vehicle Deluxe Vehicle Luxury Vehicles 13 – 26 seats Rs. 550/seat Rs. 675/seat Rs. 785/seat Rs. 1300/seat 27 – 32 seats Rs. 600/seat Rs. 750/seat Rs. 860/seat Rs. 1300/seat 33 seats or more Rs. 700/seat Rs. 870/seat Rs. 1025/seat Rs. 1300/seat   Online Road Tax Payment in Bihar Visit the official Vihan Citizen Services website of Bihar. In the tab on the left, enter your vehicle registration number, and proceed to select the state and the RTO. Once the new window pops open, click on login. Now click on ‘Pay Your Tax.’ Fill in all the details required, along with the registration amount for the vehicle. Complete the payment through the desired payment option. Ensure to save the Bihar Vahan road tax receipt for future reference FAQs Who is eligible for a road tax exemption in Bihar? Women who own a three-wheeler or a four-wheeler as a commercial vehicle and have a valid driving license are free from paying road tax. Invalid carriages are likewise exempt from taxation.  What is the time limit to pay road tax in Bihar? If you don’t register your new vehicle within 30 days after buying it, you will have to pay a penalty. Law enforcement in the state is also likely to impose a penalty on vehicle owners who do not pay their one-time tax. 

RBL Bank has been recognised as one of the country’s fastest growing private sector banks. Since its establishment, the bank has expanded the scope of its operations to a wide range of financial products and services. One of the many services that the bank offers its customers is the current account. A current account is a type of bank account where there are very high limits on the withdrawals and deposits made to the account. The account provides account holders with high liquidity and, in several cases, an overdraft facility. Current accounts are usually used by individuals who run businesses and have high influx and outflow of cash. RBL Bank Current Account Products Traders Current Account Exceed Business Banking Business Account Self Employed Professional Current Account India Start-Up Club (ISC) Current Account Exceed Global Trade Current Account Traders Current Account This current can be opened by the traders who run small businesses with the need for specific requirements for the business. This current account for the traders serves the financial obligations of the fast-growing business. Free cash deposit up to Rs.15 lakhs per month. RTGS and NEFT inward fund transfers (within RBL Bank) are free with this account. Demand Draft at RBL Bank Branch locations are free (if beyond the free limit – Rs. 50) RBL Current Account           RBL Current Account Average Monthly Balance (AMB) Requirement Non – Maintenance of AMB Cash Deposit Requirement Cash Withdrawal Home Branch Non-Home Branch Home Branch Non-Home Branch Traders Current Account   Rs. 75,000 per month Rs. 1000 for AMB greater than Rs. 50,000/- Rs. 2/1000 Min Rs. 50 per transaction Rs. 2/1000 Min Rs. 50 per transaction Free (Unlimited) Rs. 1/1000 Min Rs. 25/Txn Exceed Business Banking This current can be opened by the business entities which provide the account holders with the banking support in terms of its business expertise. Free unlimited ATM transactions at any bank’s ATM RTGS and NEFT inward fund transfers (within RBL Bank) are free with this account. Demand Draft at RBL Bank Branch locations is free (if beyond the free limit – Rs. 50) RBL Current Account           RBL Current Account Average Monthly Balance (AMB) Requirement Non – Maintenance of AMB Cash Deposit Requirement Cash Withdrawal Home Branch Non-Home Branch Home Branch Non-Home Branch Exceed Business Banking   Rs. 50000 per month If AMB is lesser than or equal to 50% – Rs.600 If AMB is >= 50% – Rs.400 ` 2/1000 Min ` 50/Txn 2/1000 Min ` 50/Txn Free (Unlimited) Free (Unlimited) Business Account This account provides the account holders with many business opportunities using the bank’s financial services. Demand Draft at RBL Bank Branch locations is free (if beyond the free limit – Rs. 50) Visa International debit card is free of cost on opening this account. Free unlimited ATM transactions at any bank’s ATM RBL Current Account             RBL Current Account Average Monthly Balance (AMB) Requirement   Non – Maintenance of AMB   Cash Deposit Requirement   Cash Withdrawal   Metro Urban Rural/ Semi-Urban Metro Urban Rural/ Semi-Urban Home Branch Non-Home Branch Home Branch Non-Home Branch Business Account   Rs. 5,000 Rs. 3,000 Rs. 1,000 If AMB is <=50% – Rs. 150 If AMB is <= 50% -Rs 300 AMB is >50% – Rs. 100 If AMB is >= 50% -Rs 200 AMB is <= 50%-Rs. 75 Rs. 2.5/1000 Min Rs. 50/Txn Rs. 2.5/1000 Min Rs. 50/Txn Free (Unlimited) Free Rs. 1 Lac per day Self Employed Professional Current Account This account aims at providing a specialised educational training and legal qualification for the people who opt for the training to become a part of a professional body.  Free cash deposits up to Rs.5 lakhs per month at all RBL Bank branches. Free unlimited ATM transactions at any bank’s ATM This account offers a free Platinum debit card to the customers on opening this account. India Start-Up Club (ISC) Current Account This current account is a designed for the start-ups that will enable them to run their business by offering convenient services. Free unlimited ATM transactions at any bank’s ATM. Account holders can avail the comprehensive trade finance and foreign exchange (FOREX) services. It also offers with the bank’s partner services that include company registration, taxation services, CRM solutions, office space, and social media marketing. RBL Current Account             RBL Current Account Average Monthly Balance (AMB) Requirement   Non – Maintenance of AMB   Cash Deposit Requirement   Cash Withdrawal   Metro Urban Rural/ Semi-Urban Home Branch Non-Home Branch Home Branch Non-Home Branch India Start-Up Club (ISC) Current Account   Rs. 20,000 per month If AMB is <=50% – Rs. 150 If AMB is <= 50% -Rs 300 AMB is >50% – Rs. 100 If AMB is >= 50% -Rs 200 AMB is <= 50%-Rs. 75 Rs. 2.5/1000 Min Rs. 50/Txn Rs. 2.5/1000 Min Rs. 50/Txn Free (Unlimited) Free Rs. 2 Lacs per day Exceed Global Trade Current Account This current account is a designed for the individuals to cater their financial needs of those who carry-out cross border business transactions in addition with domestic transactions. This account comes up with two variants that are explained below: • Exceed Extra Current Account• Exceed Express Current Account• Exceed Elite Current Account S.No. RBL Current Account RBL Current Account Average Monthly Balance (AMB) Requirement Non – Maintenance of AMB Cash Deposit Requirement Cash Withdrawal 1. Exceed Extra Current Account Rs. 50000 If AMB is <= 50% – Rs.600 If AMB is >= 50% – Rs.400 Rs. 2/1000 Min Rs. 50/Txn Free ( Unlimited) 2. Exceed Express Current Account Rs. 100000 If AMB is <=50% – Rs.750 If AMB is >=50% – Rs.500 Free 10 Times previous month’s MAB Free ( Unlimited) 3. Exceed Elite Current Account Rs. 200000 Rs. 300 for MAB > 1.5 lakhs Free 15 Times previous month’s MAB Free ( Unlimited) Features and Benefits – RBL Bank Current Account A current account is designed to enable businesspeople and self-employed professionals to conduct their business transactions efficiently. Current accounts do not provide any interest on

Post office is one of the oldest organizations in India which started way back during the British era in Oct 1854, initially focusing only on delivering mail (post) and later started providing an array of other financial services i.e., Banking, Insurance & Investments. The biggest advantage of these schemes is their sovereign guarantee i.e., it is backed by the government. Some of the post office savings schemes also offer tax-savings benefits U/S 80C of the Income Tax Act. Below is a list of such schemes with their applicable Interest rates: – Scheme Interest Rate (Updated) Minimum Investment (Rs) Maximum Investment Eligibility Tax Implications Post Office Savings Account 4% 500 No limit Individuals including Minors Exempted Interest up to ₹10,000 National Savings Recurring Deposit Account 6.7% 100 per month in multiples of 10 No limit Individuals including Minors – National Savings Time Deposit Account 6.9% – 7.5% 1,000 and multiples of 100  No limit Individuals including minors Section 80C deduction on deposits for 5 Years National Savings Monthly Income Account 7.4% p.a. payable monthly 1,000 Max Rs 4.5 lakh for single A/C and Rs 9 lakh for Joint A/C Individual including minors The interest you earn is taxable and there are no deductions on the deposits, as per Sec 80 C Senior Citizen Savings Scheme Account 8.2% p.a. (Compounded Annually) 1,000 Max Rs 30 lakh Persons more than 60 years of age and above 50 years of age who have taken VRS or superannuation. There are tax benefits on scheme deposits as per Sec 80 C TDS is deducted if the interest earned is more than Rs 50,000 Interest taxable if more than Rs 50,000 Public Provident Fund Account (PPF) 7.1% p.a. (Compounded Annually) 500 Max 1.5 lakh per financial year Individual and minors Tax  relief available under section 80C for deposits Interest earned is tax-free National Savings Certificates (NSC) 7.7% p.a. (Compounded Annually) but payable at maturity 1,000 No Limit Individual and minors Deposits qualify for tax exemption under 80C Kisan Vikas Patra Account 7.5% p.a. (Compounded Annually) 1,000 No limit Individual and minors The interest is taxed, but the amount received upon maturity is tax-free Sukanya Samriddhi Account 8.2% p.a. (Compounded Annually) 250 Max 1.5 lakh per financial year Girl child below the age of 10 is eligible. To be opened in the name of the girl child by the guardian – Post Office Schemes in Brief Post Office Savings Account – It acts as a normal savings account of any bank, and the account is transferable from one post office to another. National Savings Recurring Deposit Account – The Scheme helps small/poor investors to form a corpus to meet their future needs. An account is either opened by an adult or by two adults jointly.  National Savings Time Deposit Account – There is a tax benefit for the investment made in the 5-year post office time deposit. The investment qualifies for the deduction under Section 80C of The Income Tax Act, 1961. National Savings Monthly Income Account – This is a scheme in which investors contribute a certain amount and earn a fixed interest every month. Senior Citizen Savings Scheme Account – The Scheme is a savings instrument offered to Indian residents aged over 60 years. The deposit matures after 5 years from the date of account opening but can be extended once by an additional 3 years by the investor. Public Provident Fund Account – Public Provident Fund is a long-term investment scheme declared by the Government of India. It is a safe post office deposit scheme that offers tax exemptions and attractive interest rates as decided each financial year. National Savings Certificate (NSC) – The Scheme is a fixed income investment scheme that one can open with a post office. As part of an initiative from the Government of India, it is a savings bond that encourages subscribers, primarily small or mid-income investors, to invest while saving on income tax. Kisan Vikas Patra Account – Kisan Vikas Patra is a certificate scheme from the post office. It may actually double as a one-time investment in a period of approximately 9 years & 10 months.  Sukanya Samriddhi Account – SSY is a savings scheme launched by the Government of India for the financial betterment of the girl child. The scheme enables parents to build capital for the future education and marriage expenses of their female child and provides an attractive interest rate on the investment. Interest Rate and Taxability on Different Savings Schemes List of Schemes  Interest Rate and Return Taxability Public Provident Fund  7.1% p.a. compounded annually Maximum deposit of Rs. 1,50,000 in a financial year is exempted under section 80C Post Office Savings Account 4.00% p.a. on individual/joint accounts Interest earned is Tax Free up to Rs. 10,000 p.a. from financial year 2012-13 Post Office Recurring Deposit Account 6.7% p.a. on individual/joint accounts _ Post Office Time Deposit Account 6.9% (1 year), 7% (2 year), 7.1% (3 year) and 7.5% ( 5 year) The investment under 5 Years TD is qualified for the benefit of Section 80C of the Income Tax Act, 1961 from 1st April 2007 Post Office Monthly Income Savings Account (MIS) 7.4% per annum payable monthly The maximum investment limit is Rs. 9 lakh in single account and Rs. 15 lakh in joint account Senior Citizen Savings Scheme 8.2 ​% per annum* The maximum limit not exceeding Rs. 30 lakh and the investment under this scheme is qualified for the benefit of Section 80C of the Income Tax Act, 1961 from 1st April 2007 Kisan Vikas Patra 7.5% compounded annually                     – National Savings Certificate 7.7 % compounded annually but payable at maturity The deposits are qualified for   for tax rebate under section 80C of Income Tax Act and the interest accruing annually but deemed to be reinvested under Section 80C of IT Act Sukanya Samriddhi Accounts 8.2% p.a. calculated on the annual basis Maximum deposit of Rs. 1,50,000 in a financial year Documents for Post Office Saving Schemes Form (relevant) KYC Form PAN Card Aadhaar Card

A Senior Citizens Savings Scheme (SCSS) account is a retirement benefit account that is supported by the Indian government. Indian senior citizens who invest a lump sum in the plan, either individually or jointly, can take advantage of the account’s benefits. The account will offer income tax advantages in addition to access to regular income after retirement.  Senior Citizen Savings Scheme (SCSS) is a government-backed retirement benefits programme. Senior citizens resident in India can invest a lump sum in the scheme, individually or jointly, and get access to regular income along with tax benefits. It is a Post Office savings scheme. Senior citizens can open an SCSS account to get the benefits of the SCSS. They can open an account in a Post Office branch or an authorised bank.  What is SCSS ? Senior Citizens Savings Schemes can be availed by any individual above the age of 60 years. They are effective savings options for the long term and offer attractive features and unmatched security.   Tenure Five years Interest Rate 8.20% p.a. Investment Amount Maximum amount that can be deposited is Rs.30 lakh Premature Withdrawal Allowed Secure investment SCSS is a government-backed scheme. Hence, the invested amount is secure and there is guarantee of returns upon its maturity.  Interest payment Individuals who open an SCSS account get an interest on the principal deposited amount at the rate fixed by the government. From 01.01.2024, for the first time interest will be payable from the date of deposit to 31st March/30th June/30th September/31st December and thereafter they will receive a quarterly interest against their deposited amount. Interest payment will be credited to an individual’s account on the first date of April, July, October, and January. Mode of deposit An individual can deposit the money in cash when the amount is below Rs.1 lakh. When the deposit amount is above Rs.1 lakh, an individual should make the payment by cheque. Maturity of the scheme  The maturity period of SCSS is 5 years. However, individuals can extend the maturity period for 3 more years by submitting an application. The application for an extension of maturity should be given in the last year. Nominations Individuals can appoint nominees either while opening an SCSS account or after opening the account. Number of accounts  Individuals can open more than one SCSS account. They may open another account either by themselves or a joint account with their spouse. However, joint accounts can be opened only with the spouse, and the initial depositor is the investor who first deposits in the joint account.   Minimum and maximum deposit amount  The minimum deposit is Rs.1,000 and the maximum is Rs.30 lakh. The deposits can be made in multiples of Rs.1,000. Transfer of an account  An SCSS account can be transferred from a post office to a bank and vice versa.  Premature closure Individuals can withdraw the amount and close the account at any time on an application in Form-2 subject to the following conditions Closed before one year – interest paid in the account shall be recovered from the principal amount. Closed after one year but before two years – an amount equal to 1.5% will be deducted from the principal amount and shall be levied as a penalty Closed after 2 years – 1% of the principal amount will be deducted and shall be levied as a penalty Eligibility for SCSS Individuals above 60 years. Retired civilian employees above 55 years and below 60 years. However, the investment should be made within 1 month of receipt of retirement benefits. Retired defense employees above 50 years and below 60 years. However, the investment should be made within 1 month of receipt of retirement benefits. Account can be opened in an individual capacity or jointly with spouse only. The whole of the amount deposited in the joint account will be attributed only to the first account holder. Non-Resident Indians (NRIs) and Hindu Undivided Families (HUFs) are not eligible to open a SCSS. Process to Open an SCSS Account An SCSS account can be opened at a bank or a post office. The process to open an SCSS account is mentioned below: Visit the nearest post office or bank branch. Submit the application form along with the Know Your Customer (KYC) documents. A cheque for the amount that is being deposited must be provided. You can add nominees to the account. Documents required to open SCSS account Two passport-size photographs Identity proof, such as a PAN card, Voter ID, Aadhaar card or passport. Proof of address, such as Aadhaar card or telephone bills. Proof of age, such as PAN card, Voter ID, birth certificate or senior citizen card. How SCSS works? Here is how an SCSS account works: Open an SCSS account by depositing a minimum amount of Rs.1,000 up to Rs.30 lakh in a single instalment. The deposit amount is restricted to the retirement benefits received and must be deposited in the SCSS account within a month from the date of receiving the retirement benefits from the employer. Retirement benefits here means any payment due to the account holder on account of retirement on superannuation or otherwise. It includes provident fund dues, retirement or superannuation gratuity, commuted value of pension, leave encashment, savings element of Group Savings Linked Insurance Scheme payable by the employer on retirement, retirement-cum-withdrawal benefit under the Employees’ Family Pension Scheme and ex-gratia payments under a voluntary or a special voluntary retirement scheme. If the deposit is in excess of the ceiling amount, the excess amount shall be refunded to the account holder immediately. Interest on the deposit will be paid once every quarter. Interest can be drawn through auto credit into the savings account held at the same Post Office branch or through ECS (Electronic Clearing Service). The account can be prematurely closed at any time, after the date of opening. The account may be extended for a further period for 3 years from the date of maturity. The extension can be done within 1 year from the date of maturity. FAQs

Intellectual property rights have grown to a position from where it plays an important role in the global economy’s development over the past two decades. In 1990s, laws and regulations were strengthened I this area by many countries unilaterally. In the multilateral level, there was enhanced protection and enforcement of IPRs to the level of solemn international commitment because of the successful conclusion of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) in World Trade Organization. There is a vast domain of intellectual property. Designs, Copyrights, and Patents Trademarks since a long time have received recognition. Newer forms of the protection are also developing particularly encouraged by the stimulating emergence in technological and scientific activities. THE CONCEPT OF INTELLECTUAL PROPERTY The intellectual property’s concept is not a new one as Renaissance northern Italy is thought to be the framework of the intellectual property system. A Venetian Law of 1474 made the first methodical attempt to protect inventions in a form of patent, which allowed right to an individual for the first time. The invention of the printing press and movable type by Johannes Gutenberg around the year 1450, helped in the origin of the first copyright system in the world. By the end of 19th century, new creative ways of manufacture aided caused large-scale industrialization accompanied by fast growth of cities, the investment of capital, expansion of railway networks, and nationalism led many countries to establish their modern Intellectual Property laws. In this point of time, the International Intellectual Property system also began to take shape with the creation of the Paris Convention for the Protection of Industrial property in 1883 and the Berne Convention for the protection of Literary and Artistic Works in 1886. The evidence underlying Intellectual Property throughout its history has been that the rewards and credits related with ownership of inventions and creative works encourage further creative and inventive activity that, motivates economic growth The Convention establishing the World Intellectual Property Organization (1967) gives the following list of the subject matter protected by intellectual property rights: trademarks, service marks, and commercial names and designations; inventions in all fields of human endeavour;  industrial designs; protection against unfair competition; and “all other rights resulting from intellectual activity in the industrial, scientific, literary or artistic fields.”  literary, artistic and scientific works; scientific discoveries; performances of performing artists, phonograms, and broadcasts; The role and importance of the intellectual property protection has been formed in the Trade-Related Intellectual Property Systems (TRIPS) Agreement, with the establishment of the World Trade Organization (WTO). At the end of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) treaty in 1994, it was negotiated. The TRIPS Agreement came into effect on 1st January 1995, is considered till date most complete multilateral agreement on intellectual property. The areas of intellectual property it covers are as following: Trademarks which include service marks as well; Industrial designs; Copyright and related rights (i.e. producers of broadcasting organisation, the rights of performers); Geographical indications which include appellations of origin; The lay-out designs (topographies) of assimilated circuits; The information which are not closed which includes test data and trade secrets; Patents which include protection of new varieties of plants; INTELLECTUAL PROPERTY SYSTEM IN INDIA In 1485 the first system of protection of intellectual property came in the form on Venetian Ordinance historically. In England in 1623 it was followed by Statue of Monopolies, which extended rights of patents for Technology Inventions. In 1760, patent laws were introduced in The United States. Between 1880 and 1889 patent laws of most European countries were developed. In the year 1856 in India Patent Act was introduced which remained in force for more than 50 years which was later modified and revised and was called “The Indian Patents and Designs Act, 1911”. A complete bill on patent rights was enacted after Independence in the year 1970 and was called “The Patents Act, 1970”. Specific statues protected only specific type of intellectual output; till very recently only four forms were protected. The protection was in the form of grant of designs, patents, trademarks and copyrights. In India, copyrights were regulated under the Copyright Act, 1957; trademarks under Trade and Merchandise Marks Act 1958; patents under Patents Act, 1970; and designs under Designs Act, 1911. The establishment of WTO and India also being signatory to the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), many new legislations were passed for the protection of intellectual property rights to meet the obligations internationally. These included the following: Designs Act, 1911 was changed by the Designs Act, 2000; Trade Marks, called the Trade Mark Act, 1999; the Copyright Act, 1957 was revised number of times, the latest is known as Copyright (Amendment) Act, 2012; and the recent amendments made to the Patents Act, 1970 in 2005. Other than this, plant varieties and geographical indications were also enacted in new legislations. These are called Geographical Indications of Goods (Registration and Protection) Act, 1999, and Protection of Plant Varieties and Farmers’ Rights Act, 2001 respectively. Intellectual property rights have developed to a stature from where it plays an important role in developing economy globally, over the last fifteen years. In 1990s, laws and regulations were strengthened I this area by many countries unilaterally. In the multilateral level, there was enhanced protection and enforcement of IPRs to the level of solemn international commitment because of successful conclusion of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) in World Trade Organization. It is felt strongly that under the competitive environment globally, stronger IPR protection rises the incentives for innovations and raises returns to international transfer of technology. Scope of Coverage Trade Marks Patents Copyrights Industrial designs Geographical indications Layout designs of integrated circuit Varieties of plant Information Technology and Cybercrimes Data protection Governing Regulations Trade Marks Act, 1999 The Patents Act, 1970 (amended in 2005) The Copyright Act, 1957 The Designs Act, 2000 The Geographical Indication of Goods (Registration and Protection) Act, 1999 The Protection of Plant

When a company needs additional capital and keeps the voting rights of the existing shareholders proportionately balanced, the company issues Rights shares. The issue is called so as it gives the existing shareholders a pre-emptive right to buy new shares at a price that is lesser than market price. The Rights issue is an invitation to the existing shareholders to buy new shares in proportion to their existing shareholding. A Right Issue of Shares offers a company a way to raise capital by issuing new shares directly to existing shareholders. The Companies Act, 2013, governs this process in India, ensuring fairness and transparency. This article provides a detailed breakdown of the steps involved in a Right Issue as per the Companies Act, 2013. Understanding the provisions: Section 62 (1) (a) of Companies Act, 2013 explains right issue as: Issue of further capital By company having share capital By offering right to existing shareholders, as on the date of offer, to acquire shares In proportion to their paid up share capital, as nearly as possible By sending a Letter of Offer. Reason For Rights Issue As the company expands, it looks for ways of capital expansion, so the company turns to the issue of shares. In place of issuing shares to the public at large, which will bring about an imbalance in the voting rights of the existing shareholders, the company resorts to issuing additional shares to the existing shareholders in proportion to its current shareholding. So this resolves the purpose of additional capital while letting existing shareholders retain their voting rights. Procedure For Rights Issue According to Section 62 (1) of the Companies Act 2013, the procedure for issue of shares is as follows: Issue of notice of Board meeting: According to Section 173(3) of the Companies Act 2013, the notice for the board meeting has to be sent minimum 7 days prior to the board meeting and must specify the agenda for the meeting. Convene the First Board Meeting: The Board meeting is held, and the resolution for issuing rights shares is passed. The rights issue does not require the approval of shareholders, and hence the board can proceed towards the issue. Issue Letter of Offer: On the passing of the resolution, the letter of offer is issued to all shareholders, and the same is sent through registered post or speed post. For shareholders to accept the offer a window period of 15 – 30 days is given that is to say the maximum time the shareholders can take to accept the offer is 30 days and the minimum period is 15 days. The offer is considered declined if it is not accepted before the expiry period. The offer must be open at least three days after the issue of the letter of offer. File MGT – 14: After the passing of board resolution, the company must file the MGT -14 within 30 days of passing of the Board Resolution. The form MGT 14 is mandatory for a public limited company. A true certified copy of the Board Resolution needs to be attached to MGT 14. Receive application money: The shareholders must send the accepted application along with application money. Convene the Second Board Meeting: The company must convene the second board meeting, the notice of which must be sent 7 days prior to the board meeting. The required quorum must be present, and the resolution for the allotment of shares must be passed. On passing the resolution for allotment of shares, the allotment of shares must be done within 60 days of receiving the application money for the same. File the forms with ROC: The company must file the Form PAS -3, within 30 days from the allotment of the shares with the Registrar of Companies. The certified true copy of the Board Resolution and the list of the allottees must be attached to the form. Additionally, the MGT – 14 must be filed for both the allotment and issue of shares. Issue of Share Certificates: The share certificates must be issued; if the shares are in Demat form, then the company must inform the depository immediately on allotment of shares. If the shares are held in physical form, then the share certificates must be issued within 2 months from the date of allotment of shares. The share certificate must be signed by at least 2 directors. The share certificates must be issued in Form SH -1. Additional Considerations: In case of a private limited company, the offer period can be shorter than that specified, where 90% of shareholders have given their consent. Companies can appoint advisors like legal counsel and merchant bankers to navigate the complexities of the Right Issue process. If the offer is not accepted within the offer period, it will be deemed to have been rejected. The Right Issue may not be fully subscribed. The company may need to explore alternative methods to raise the remaining capital. Example of a rights issue: Elon owns 300 shares of Tesla trading at Rs. 100 each. The company announces a rights issue in the 1:5 ratio. The rights issue is announced at a discounted price of Rs. 80 per share. Elon’s Portfolio value = 300 shares * Rs. 100 = Rs. 30,000 Number of right shares = (300 * 1/5) = 60 Cost to buy the right shares: 60 shares * Rs. 80 = Rs. 4800 Total number of shares after exercising rights issue: 300+60=360 Revised portfolio value = Rs. 30,000 + Rs. 4800 = Rs. 3,480 Price per share post-rights issue: Rs. 34,800 / 360 = Rs. 96.7 FAQs What is a Rights Issue? A Rights Issue is a process by which a company offers its existing shareholders the opportunity to buy additional shares at a discounted price before offering them to the public. What form needs to be filed with the ROC in case of a Rights Issue? Form PAS-3, also known as the “Return of Allotment,” must be filed with the ROC after the shares have been allotted to the shareholders.

Due diligence of a company is usually performed before the business sale, private equity investment, bank loan funding, etc., In the due diligence process, the financial, legal and compliance aspects of the company are usually reviewed and documented. Before you go out fundraising it is important to have all the due diligence items organized in folders so that you are not the bottleneck in the event investors express interest and want to dig deeper into the business. Each of these items should be prepared as part of your due diligence package so you can quickly hand this information over to potential investors without wasting any time: Business Due Diligence A business due diligence is usually performed prior to the purchase of a company or investment in a company by the acquirer or investor (“Buyer”). It is the responsibility of the seller of the business or shares (“Seller”) to provide the documents and information necessary for performing a due diligence on the company to the buyer. A due diligence helps the buyer take an informed investment decision and mitigate risks associated with a business purchase transaction. Both parties usually enter into a non-disclosure agreement prior to starting a business due diligence as sensitive financial, operational, legal and regulatory information would be divulged to the buyer during the due diligence process. 1) Due Diligence – Organisation 1.01 Certificate of Incorporation (or equivalent) and all amendments and restatements 1.02 By-laws (or equivalent), as currently in effect 1.03 List of all business names used by or registered for use by the Company 1.04 List of any and all subsidiaries and affiliates of the Company and jurisdiction of formation 1.05 List of all jurisdictions in which the Company owns or leases (either as lessor or lessee) assets or has done so since incorporation 1.06 List of all jurisdictions in which the Company is qualified as a foreign entity, has applied for such qualification or has substantial contacts 1.07 Minutes, including minutes of meetings of the board of directors, board committees or the shareholders (or any equivalents); written consents of any of the foregoing in lieu of a meeting; and all materials distributed to the board, board committees and the shareholders (or any equivalents) at any meeting 1.08 List of any business acquisitions or dispositions made by the Company 1.09 List of all persons who have been or who currently are officers or directors (or equivalent) 2) Due Diligence – Capitalisation and Security holders 2.01 List of Company securities authorised and outstanding that indicates the holders, amounts and classes or series of such securities and copies of securities transfer books and stock ledgers 2.02 Agreements to issue and/or register securities 2.03 Agreements relating to voting of securities, preemptive rights, restrictions on transfers, rights of first refusal and any other grants of rights in respect of the Company’s securities 2.04 All warrants, options or other agreements relating to rights to acquire securities of the Company or requiring the issuance and/or registration of such securities 2.05 All plans and grant or award documents for any stock option, stock bonus, stock purchase or other equity-based compensatory programs for employees, consultants, advisors and/or directors (or equivalent) 2.06 Any agreements with “finders” or which purport to obligate the Company to compensate any person or entity in connection with a financing transaction 2.07 Private placement memoranda, investment letters, questionnaires and other documents relating to any offering of securities of the Company 2.08 Copies, front and back, of all stock certificates and stock powers 2.09 List of any copies of closing binders of each and every prior equity financing (including debt convertible into equity) 3) Due Diligence – Financial Statements and Audits 3.01 Financial statements for the last three years 3.02 Schedule of liabilities (contingent or otherwise) not reflected in the most recent financial statements 3.03 List of any change in accountants and/or auditors since incorporation 3.04 Copies of audit letters from counsel to auditors since incorporation 4) Due Diligence – Taxes 4.01 List of all domestic and foreign jurisdictions in which the Company remits sales, use, income, franchise, property or other taxes 4.02 Tax returns (federal, state and local) of the Company since incorporation 4.03 Reports filed and material correspondence with any and all tax authorities, including the IRS since incorporation 5) Due Diligence – Employees, Salaries and Labour Disputes 5.01 All collective bargaining agreements, employment agreements, offer letters, consulting agreements, severance agreements, non-compete or non-solicit agreements, change-in-control agreements and intellectual property transfer agreements, non-disclosure or confidentiality agreements to which the Company is a party and list of any of the foregoing agreements currently contemplated or about to be entered into by the Company 5.02 Summary of labour disputes, requests for arbitration, organisational proceedings, grievance proceedings and similar matters and history of recent union negotiations 5.03 List of all employees indicating each employee’s division, title, function, industry experience and earnings and whether each such person is an officer and/or director (or equivalent) of the Company 5.04 List of all employees terminated since incorporation and the reason for such termination, and indicate whether each such employee has signed a release (and provide a copy of signed release) 5.05 Termination procedures, policies and a sample termination letter 6) Due Diligence – Employment Policies and Employee Benefits 6.01 All personnel manuals, employee handbooks and documents relating to employment policies and procedures 6.02 Any affirmative action plan(s) 6.03 Policies and practices regarding compensation for all employees not earning a straight salary (i.e., bonuses, commissions, overtime, premium pay, shift differentials, etc.) 6.04 Policies for fringe benefits, perquisites, holidays, vacation and severance pay 6.05 Incentive, bonus, deferred compensation, profit-sharing and nonqualified pension plans 6.06 Employee health and welfare plans, whether insured or self-insured, including most recent Summary Plan Description for each 7) Due Diligence – Financial Commitments 7.01 All indentures, loan and note agreements (whether demand, term, instalment or other) and line of credit arrangements, whether bank loans, industrial revenue bonds, mortgages or other and whether secured or unsecured, and all documents evidencing other material financing arrangements,

Ministry of Road Transport and Highways executed the program Vahan i.e a National register. It acts as the principal repository for the essential data which is concerned with the enrolled vehicle. You could search for the information concerning your related enrolled vehicle through the below-mentioned parameters: Engine Number Chassis Number Your Vehicle’s Registration Number What is VAHAN system? VAHAN’ is a National Register which acts as a central repository for crucial information related to registered vehicles. It is an initiative by the Ministry of Road Transport and Highways. Details of the registered vehicles can be searched on the system using the following parameters: Registration number of the vehicle Chassis number Engine number Multiple services such as vehicle registration, issue and renewal of permits, calculation and payment of state (road) taxes, issuance and renewal of fitness certificate, issuance and settlement of challan, etc. can be done using the VAHAN system. Purpose of e-way bill portal integration with VAHAN system The e-way bill portal and the VAHAN system are integrated to cross-check/validate the registration number of a vehicle at the time of preparing an e-way bill. Any subsequent attempt to use a vehicle number for e-way bill generation but not registered on the VAHAN system will not be allowed. How does e-way bill-VAHAN Integration work? Non-availability of vehicle number This error is shown when the vehicle number is not available in the VAHAN database. Initially, such a vehicle number will be allowed on the e-way bill portal but cannot be used again subsequently. This error can be resolved by updating the vehicle details at the concerned Regional Transport Office (RTO). Vehicle registered in more than one RTO The details of the same vehicle number may be found at more than one RTO. Initially, the portal may accept such a vehicle number but the same will not be allowed to be used subsequently. This can be resolved by visiting the concerned RTO and updating the details in relation to the same. Checking for details in VAHAN system It is possible to look up the details of the vehicle on the VAHAN system by visiting this website. Non-availability of vehicle details on VAHAN system The vehicle details can be added to the VAHAN system by submitting an application to the concerned RTO along with the necessary documents. Usage of temporary vehicle numbers A newly purchased vehicle may be issued a temporary number until the permanent number is issued. In this case, the temporary registration number may be entered into the e-way bill portal with the prefix ‘TR’. E-way bill portal throws errors for Vehicle details Vehicle details are available on the VAHAN website but the e-way bill portal still shows an error: In such a case, a grievance may be raised on the e-way bill helpdesk along with the vehicle number used. FAQs What is the e-way Bill system? The e-way Bill system is an electronic documentation system introduced by the GST authorities in India. It is used to track the movement of goods and ensure compliance with GST regulations during transportation. What is the Vahan system? The Vahan system is a digital platform managed by the Ministry of Road Transport and Highways (MoRTH) for vehicle registration and management. It maintains a centralized database of vehicle registration details in India.

The State Bank of India offers a variety of savings accounts for both minors and adults. SBI Basic Savings Account, Savings Plus Accounts, Small Savings Accounts, and more products are available in this category. State Bank of India (SBI) is the largest public sector bank and caters to almost all Indians. The bank approximately has over 40 crore customers. SBI offers multiple types of savings accounts for different banking requirements. The SBI savings account interest rate starts from 2.70%. Learn more about SBI savings accounts in detail.  SBI Savings Account SBI offers different types of savings accounts catering to all ages, from minors to senior citizens. SBI savings account allows you to enjoy various exclusive benefits and earn regular interest. SBI last revised its interest rate on savings accounts in October 2022.  SBI Savings Account Interest Rate 2024 Account Balances SBI Saving Account Interest Rate Rs. 1 lakh 2.70% More than Rs. 1 lakh 2.70% Characteristics of SBI Savings Account SBI savings accounts have no minimum account balance. In other words, no minimum account balance is required in such savings accounts. State Bank of India SBI offers a nomination opportunity for their savings bank account. Also applicable to the Motor Accidents Claim Account. SBI provides ATM cards for all of its savings accounts except the Resident Foreign Currency (Domestic) Account. The maximum account balance for savings accounts with SBI varies depending on the kind of savings account. Furthermore, with the exception of the small savings account and the kids’ account, there is no maximum balance in an SBI savings account. Furthermore, the maximum amount for minors accounts is INR 10 lakhs. The maximum balance for the small savings account, on the other hand, is INR 50,000. SBI Savings Account Opening Online Step 1: By accessing the SBI website, any Indian resident can open a savings account. Go to “Deposit schemes” under personal banking to find the savings bank account choice. Step 2: Before selecting the “apply online” option, it is critical to study the benefits, restrictions, and laws. Step 3: Fill out the online application form completely. Step 4: The registered mobile number will be assigned a TCRN (Temporary Customer Reference Number). Step 5: Your account will be opened if you visit the nearest SBI bank within 30 days with the appropriate original documentation. Who Can Open a Savings Account with SBI? You need to be a resident Indian above 18 years of age and should not have any existing contact with the bank. At any given moment, you could only have a single Insta Savings Account and no other accounts. You must have a valid Aadhar Number (connected to a registered mobile phone in your name) and a valid Permanent Account Number (PAN) Documents Required dentity and address proof (passport, voter ID, driver’s license, Aadhar card, NREGA card, PAN card) two recent passport-sized color pictures ID proof of the person who would be operating the account is essential for youngsters under the age of ten. If the kid is able to operate the account independently, the standard procedure will apply Types of State Bank of India Savings Accounts 1) Basic Small Savings Account This savings account is also intended for economically disadvantaged members of society, but it is specifically developed for people who do not have officially valid KYC proof and experience difficulties in obtaining a bank account. 2) Basic Savings Account It is primarily intended to help the weaker parts of society by giving them a choice to begin saving. 3) Savings Account for Minors It is intended to teach youngsters the value of money and savings while also letting them experience purchasing power so that they can learn to handle their finances effectively in the future. 4) Savings Bank Account This is a primary savings bank account that offers general public services such as SMS Banking, Internet Banking, Credit cards, and more. This account must be opened with valid KYC documentation. 5) Savings Plus Account The SBI Multi Option Deposit Scheme provides this account. It uses the customer’s savings or current account to open and link a term deposit account. This fixed deposit has a maturity period of 1 to 5 years. This is done to encourage the practice of investing. A loan against MOD deposit is also available to help consumers better manage their money. 6) Insta Plus KYC Account It may be opened online with simply Aadhaar and PAN (physical) credentials using Video KYC. FAQs Is it possible to open a zero-balance account with SBI? Yes. With a zero balance, you can open an SBI Basic Savings Bank Account. Is it feasible to open multiple savings accounts with SBI? SBI allows you to hold several sorts of accounts (such as savings, current, and so on) while using the same customer ID. All of the accounts will be linked.