banking

Ritika singh (Querist) 23 November 2009 This query is : Resolved
i wanted to ask what is private banking and what are the documents required in the national and international law to avail such a facility . i also wanted to know on death of such a person who avails this facility to whom does the money go ....are there any law provisions that provide for it

Follow Query

Report Abuse

Raj Kumar Makkad (Expert) 23 November 2009
private banking is not a facility rather it is a profession/job which can be started with the due permission of RBI under Banking Regulations Act. If a private banking is operated by any person with the permission of RBI and following all the guidelines of Deptt. of Finance GOI, then on his death also the entire deposits are distributed as per its undertaking with RBI.

Ritika singh (Querist) 25 November 2009
thank u

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries