Proposed Amendments in NIDHI RULES, 2014

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..... Proposed Amendments in NIDHI RULES, 2014 - News and Press Release Dated:- 2-2-2016 - News - Loans 17.1 Rule 15(4) of the Nidhi Rules, 2014 permits only three kinds of securities against which .....

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..... a Nidhi can give loan to its members, namely:- (a) gold, silver, and jewellery; (b) immovable property and (c) fixed deposits receipts, National Savings Certificates, other Government Securities and .....

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..... insurance policies. A suggestion was received from stakeholders that in case of urban marginal or lower class, vehicles like auto-rickshaw, etc. are sources of income and are available on hypothecatio .....

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..... n of vehicle itself and no other security is required. Further urban lower class has no immovable property or gold etc. Therefore , it was suggested that vehicles should be allowed as security for hyp .....

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..... othecation. The Committee deliberated and did not agree with the suggestion since vehicles are not ejusdem generis i.e. of the same kind as the other assets permitted. - News - Press release - .....

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..... PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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