Fee on loan pre closure
The Reserve Bank of India on 7-5-14 gave a directive to banks not to levy any penalty for pre-paying floating loans. The floating loans include housing, corporate, vehicle and personal loans.
Archive for May 2014
Children from live-in relationships
In a recent landmark judgment, the Supreme Court has held that children born out of live-in relationships shall be considered as legitimate off springs. Such kids will have all the rights of children born to legally wedded parents. These children will get the right to inherit the property left behind by their parents. The overall legal position regarding live-in relationships is still fluid in the absence of specific legislation in this regard. However, the Supreme Court through its various judgments have filled this lacuna to some extent.