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Legality of Bitcoin RBI Said No Reserve Bank of India in 2018 had directed banking institutions to not deal with or provide services to any individual or business entities dealing with or settling virtual currencies (also known as cryptocurrencies). Additionally, the bodies providing such services were given a three months window within which they were supposed to halt such services and deals. SC Said Yes This circular was challenged through a writ petition in the Supreme Court. The writ petition under Article 32, was brought by the Internet Mobile Association of India (IAMAI). The circular was set aside by the Supreme Court on the grounds of proportionality. The Court pronounced that since RBI had found no adverse consequence on the entities that it governed due to cryptocurrency, and when virtual currency itself faced no ban, the circular was disproportionate and thus liable to be set aside. With the ban set aside, banks that subsequently closed the accounts of crypto exchanges, forcing some of them to shut down, including Zebpay, Coindelta, and Koinex, can now deal in virtual or cryptocurrencies. Crypto trading has risen since the judgement was pronounced by the Supreme Court. What is Bitcoin? For understanding what a Bitcoin is, we have to understand what a cryptocurrency or a virtual currency is. Cryptocurrencies are internet-based mediums of exchanges. They employ the use of blockchain technology. The advantage that they offer is that it is not controlled by any central authority. Records of ownership are stored in a digital ledger or blockchain using strong cryptography to secure transaction record entries. Bitcoin is the first implementation of a concept of cryptocurrency, which was first described by Wei Dai who suggested the idea of a new form of money that used cryptography to control its creation and transactions, rather than a central authority. The initial Bitcoin specification and proof of concept were published by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. Bitcoin is a decentralized peer to peer payment network. Nobody owns the Bitcoin network. There are no servers or central controlling authority. Bitcoins can be obtained as payment for services or goods, can be purchased or can be earned through mining. Uses of Bitcoin Bitcoin is used for several purposes. It can be used to buy goods or services where it is accepted. Even the judgement of the Supreme Court discussed how sources suggested that a few eateries in Mumbai, Bengaluru and Chennai accepted payment through virtual currencies. Platforms or intermediaries also provide gift cards in exchange for payment being made in virtual currencies. A good example of the same would be Dell, that accepted payment in Bitcoin but later stopped due to low demand. Overstock, tech-driven online retailer accepts payments in Bitcoin. There are platforms such as OpenBazaar that accept payment only in the form of cryptocurrency. People also invest in Bitcoin. Although they are high-risk investments as the market is extremely fluctuating and the impending possibility of them being outlawed in certain jurisdictions makes people still invest in Bitcoin. A person can become a Bitcoin miner by running software with specialized hardware. Miners contribute their computing power to solving complicated cryptographic puzzles, which is necessary to confirm a transaction and to record it in a distributed public ledger (Blockchain). The difficulty of the puzzles is constantly increasing, correlating with the number of people trying to solve it. Thus, initially, mining could be done using just a computer, but presently, it requires heavy hardware. Mining is extremely competitive but rewarding. Once a cryptographic puzzle is solved, are entitled to a reward as well as a transaction fee. Apart from this, there are some other miscellaneous methods through which a Bitcoin can be used. Microsoft lets one add Bitcoin to top up their account. Wikipedia accepts donations in the form of Bitcoin. Where to Buy Bitcoin in India? Bitcoin is currently is one of the best-performing asset class in the last one year, with S&P down 14%, Dow Jones down 21% and Gold down 21%, during the same 12-month period, data provided by Crebaco Global Inc - a research provider on blockchain and cryptocurrency, showed. Due to the judgement from the Apex Court, the demand has also increased. Bitcoin can be purchased on crypto trading platforms. Bitcoin can also be purchased on exchange platforms, such as Wazirx, crypto exchange in the country. A potential purchaser considers the fee structure of a cryptocurrency exchange over others is the fee structure. Zebpay, another one of the largest exchanges in the country, was recently re-launched. Unocoin charges a fee of 0.7% to buy or sell Bitcoin. Crypto exchange Coins Cx charges 0.0005 BTC for withdrawals. Cashaa, Pocketbits, Giottus, and Bits are other known exchanges in India. Paxful is another platform that lets one buy, sell and send Bitcoin. CoinDCX, an India based crypto exchange, continued to operate even after the ban.

Want a hassle-free ride through the hustle and bustle of the city? Two-wheelers are undoubtedly the best option. Not only are they easy to maneuver but also help you to beat the traffic. Ease of parking and economical fuel consumption just add more value to it. Bike rental app platforms like Bounce, Vogo, Drivezy, etc. have made it affordable and convenient for riders to rent bikes for a variable duration. Two-wheeler Rental Apps The $300 million bike rental market in India comprises app-based two-wheeler rental apps and local rental players. While apps like Bounce, Vogo, Drivezy, etc. dominate the bike rental market in India, most of the tourist spots across the country rely on local rental players. Here are some of the key two-wheeler rental players: ● Bounce: This self-drive bike rental app started its journey in 2014. Today it offers keyless scooter rental service across the country. Riders can pick and drop the vehicles at any designated area within the city. Bounce scooters come with two pricing models, i.e. subscription and hourly rentals. ● Drivezy: After starting its journey in 2016, Drivezy is a known name today in the world of self-drive cars and bikes. The rider can rent a bike for up to 30 days. The user can select bikes and scooters according to transmission type and engine capacity. ● WheelStreet: Launched in 2014, WheelStreet is another prominent name in the bike rental space in India. They offer a wide variety of two-wheelers on rent, including scooters, bikes, sports bikes, and premium bikes. Functioning on an aggregator model, this app allows the commuter to rent two-wheelers for a variable duration. They offer home delivery and pick up as well. ● Vogo: Vogo started its journey in 2016 with IoT-enabled scooters available for rent. Serving more than 3 million riders every year, Vogo offers rentals for both one-way and round trips as well. The rental starts at Rs 3/km. ● ONN Bikes Rental: After starting operations in 2016, ONN Bikes Rental today offers a wide variety of options to the riders. They are currently operating in five cities, i.e. Bengaluru, Hyderabad, Jaipur, Mysuru, and Udaipur. ONN Bikes Rental offers ISI marked helmets and comprehensive insurance to the riders. Pros and Cons Whether you are renting bikes for a daily commute or a trip to the neighbouring city, you must weigh the pros and cons before making a decision. Here are both of them to help you conclude. -> Pros: ● No Maintenance Cost: A vehicle requires maintenance throughout the year. When you rent a bike, you don’t have to worry about the maintenance cost. Unless you are in an unexpected situation, there is no repair cost involved either. The only things you have to pay for are the vehicle and the fuel. ● Wide Range of Choices: Tired of taking the same old bike to your office? Two-wheeler rental services make it easier for you to choose from a wide range of makes and models. This flexibility of choice attracts more riders every year. ● Financial Freedom: Purchasing a motorcycle comes with certain economic burdens. That’s why renting always works. The best part is that you can beat the traffic and enjoy the ride without actually owning any financial burden related to the bike. -> Cons: ● No Customization: If you had your bike, you could customize it according to your choices and preferences. This is not something that you can do with rented bikes. Shall you desire to make adjustments, it is better to buy a bike than renting it. ● Lack of Connection: Most of the vehicle owners are very attached to their vehicles. Having your own bike gives you a sense of pride and ownership. You can't expect to get the same feeling with a rented bike. ● Availability of Makes and Models: Bike rental apps don’t guarantee the availability of specific makes and models. So, you might end up renting a bike different than the one you had in mind. Cost Benefits While you might be too hyped with getting a bike on EMI, the scenario starts changing after purchasing it. Purchasing a bike comes with several cost factors: ● Insurance: There are three types of two-wheeler insurance policies, i.e. comprehensive policy, third party insurance, and own damage bike insurance policy. A standard bike insurance plan costs you in between Rs 1700 and Rs 2100 every year. ● Maintenance: The more distance you travel, the more painful it becomes for your pocket. Every bike needs to go through maintenance every 3000 km. Considering this, you might end up spending around Rs 30,000 in 4 years. ● RTO Charges: The Regional Transport Office might charge you up to Rs 13,000 for clearance. Also, obtaining registration is often a lengthy process, especially when you are shifting from one city to another. ● Depreciation: According to a study, most of the bikes and scooters go through 10% depreciation every year till the 5th year. Unless you plan to ride your bike for an extended period of time, it is better to rent one. For example, if you plan to ride a two-wheeler for a month or two, it is wise to opt for a bike rental.

As the market rates and interests frequently change throughout the day, it needs an investor to make a thorough judgement to decide where to invest in. Undoubtedly, risk and associated returns are the primary factors that come into one’s mind when looking ahead for market investments. And one such investment type that offers satisfactory returns at low-risk tolerance are Gilt funds. So, here we will get to know about the Gilt funds, why to invest in them, their safety quotient and everything that one needs to know to get familiar with them. What are Gilt funds? Gilt funds are debt funds which are primarily invested in government securities – both state and central government. RBI issues these government securities on behalf of the government with varying maturity periods. Since the investment is made to the government, they offer high security and low risk on the money financed. The RBI regulates the interest rate applied to these funds period. However, that’s not all with gilt funds. For the ones who invested in them are issued a golden-edged certificate as well. These certificates were called the gilded edge certificates and hence the name – Gilt funds. Types of Gilt funds There are broadly two classifications of the Gilt funds based on maturity periods: 1. With varied maturity In this category, the maturity period for the investment made in purchasing government securities is not pre-decided. The funds can be invested for a short-term period or even for long-term periods as well. 1.1 Short term Gilt funds The short term government bonds are shorter residual maturities say 2-3 years but offer the best returns in falling rate scenarios. They are often considered the riskiest among the debt funds with short adjustment periods against changing interest rates. 1.2 Long term Gilt funds As the name suggests, the long term gilt funds look forward to longer durations of maturity up to 30 years. They are favoured over short term gilt funds as they can be sold and bought with relatively more ease as the risk is negligible over the period. 2. With constant maturity In this category, the investment made in gilt funds stays put for years. However, the additional condition that it imposes is that the funds chosen for this category must invest a minimum of 80% in government securities. Why invest in gilt funds. Out of the many investment schemes in the market, a surge has been seen from investors towards these gilt funds in the recent time. The reasons which have piqued interest among financiers are: 1. Negligible credit or default risk: Since gilt funds are an investment made in G-secs (government securities) which are of high credit quality, there is guaranteed capital protection. 2. Government investments simplified: This is primarily for retail investors who are otherwise regulated to invest in government funds. This allows investors to diversify their investments in these funds, which actually require large sums of money. 3. Promising returns: As it has been seen that gilt funds are low-risk investments, they offer moderate returns in medium to long term maturity periods. It is often said to be a balance of risk and return from the investor’s point of view. How secure are Gilt funds? Over a time period of 10 years, the history of gilt funds has shown that it can reap profit in two-digit percentage as well as can incur losses in the same two-digit percentage. This happens due to the inverse relationship between the interest rate and bond prices. In case, there is an increment in the interest rate regime, the returns coming from gilt funds fall. However, if the interest rates decline, the profits can be relatively high and better than the equity funds as well. Another risk associated with Gilt funds is that they are low on liquidity. This means that these G-secs investments cannot be sold and bought as easily as the rest of the funds or schemes or securities present in the market. Who can invest in Gilt funds? This investment scheme is best suited for investors who can be patient with their money and prefer a secured investment over huge profits. The capital invested is safe in these funds, but the returns are generally moderate with better asset quality. How do Gilt funds work? When in time, the central or state government seeks funds, it approaches the RBI – often called the government’s banker. RBI does its job and collects funds from other banks or insurance companies. However, in exchange for these funds, G-secs are issued by RBI on a maturity period basis. Gilt funds are related to these government securities and are availed for investment through interest rate risk. Being G-secs in nature, they are safe investments with zero credit risk. So when the interest rates in the economy rise, the value of the G-secs and related gilt decreases. And if the interest rates fall, the value of associated funds and securities increase which leads to profits. The final word Though gilt funds are subscribed to government securities, they offer zero default risk, but at the same time, they are inversely related to interest rate risks. With a decrease in these interest rates, the returns can be more promising than ever, but investing in the gilt funds can be a tense affair at times. So, make sure to go through all the factors that can affect your investment made in gilt funds and reap the benefits.

Forex Card You are going on a vacation abroad, and you are wondering how much currency cash you will require carrying. Well, your credit cards will be extracting a lot of money as in-service charges, so what is the next easy option? Forex cards. Forex cards are the preloaded foreign currency card – a kind of prepaid card that is widely used for making any kinds of payments abroad. The card can be used for shopping, restaurants, online shopping, paying cab rentals, accommodation, etc. The card can be loaded with a specific currency or multiple currencies as well. It is one of the convenient ways for people who are frequently travelling abroad. The reason behind the rising popularity of these Forex cards is a well-situated arrangement for professionals as well as for those who find it not safe to travel carrying wards of forex cash. Also, this makes it risky and swapping other cards; the charges are 3 to 6% high for any overseas transactions. How Does It Work? The Forex card can be purchased from the bank. Today majority of the banks deal in this type of prepaid travel card. The card comes preloaded with the funds you suggested. For example, if you are going on a tour to European countries like France, Paris, England, etc. the said currency will be filled in the multi-currency card. The card is prepaid as per the said date currency exchange rate. The card automatically detects which country you are swiping it. The balance of the card can be refilled by bank transfer of funds. There are one-time activation fees, and you are all set to go. While shopping abroad or paying for expenses all you have to do is a swipe at the POS machine and the money is then deducted from your card. It is like how you use it; the balance reduces. There will be a small number of fees charged to you if you happen to withdraw cash from the abroad ATMs. The Advantages of Using Forex Card There are several benefits of using this card when compared with other credit and debit cards: The card offers better exchange rates Bank offers a cheaper alternative in terms of this prepaid card than buying a cash currency. Typically the difference is 50 paisa per exchange rate for the card and for other cash and cards it is up to Rs.1.50 – 2. The card is safe Other than carrying an award of cash currency, it is always a safe option to carry a preloaded card of multiple currencies. If the card gets stolen or does not work, all you have to do is a block and freeze the balance. The other card is issued with your original balance activated, making it convenient and hassle-free to travel abroad. The card comes with locked-in exchange rates. Let’s say if you have preloaded the card with 1000 Euros the value in the card will remain the same regardless of the fluctuations in the Euro-INR exchange rate. It can carry multiple currencies. You can pre-load the card with multiple currencies without any hassle. Today, prominent banks of India are offering a forex card that allows you to fund it with 16 – 23 different currencies at a stretch. It includes Euro, USD, AUD, NZD, SAR, Singapore Dollars, Thai Baht, AED, United Kingdom Pounds, Hong Kong Dollars, Yen, and Denmark Krone. No additional fees /charges Unlike other credit and debit cards, this card does not charge you exorbitant fees. There is only a one-time activation fee which is a nominal one, and you are good to go. The card is universally accepted. Since it is a multiple currency card, it can be used in different countries across the globe. Unlike traveller’s cheque which is now an outdated payment and most of the countries now deny it, the card makes it easy and convenient mode of payment for your all abroad shopping spree, eating expenses, and even cab payments. In fact, you can widely use it for online transactions abroad, like ordering products from an eCommerce website. No currency conversion fee A dynamic currency conversion fee is not applicable when you swipe it abroad. However, this is not the case if you happen to use credit and debit cards. The transaction cost is next to minimal compared to other payment modes. Different Types of Forex Card The card is available for various purposes depending on the user requirements. If the individuals are frequent travellers having a multiple currency card is beneficial. For students who are studying abroad and working can issue student forex cards, and also there is also a prepaid card available specifically for pilgrimage purposes like if an individual or a family is going to a “Haj Pilgrimage”. Hence, the card caters to the different individuals making it easy, safe, and secure to make transactions abroad. Getting a Forex Card To avail of this prepaid card of your choice, you need to apply for the forex card application. It can be done from your bank’s website, or you can personally visit the branch and get the information. There is a small formality like submitting a declaration form along with your passport copy along with the visa and ticket. You have to pay the Indian currency conversion amount in exchange for the currency you are willing to preload in the card. There is a minimal fee for issuing the card, and once the transaction is processed, the card is activated instantly.

Foreign money Are you planning for your next foreign trip? Have you decided on how you’re going to carry your money? And how much money are you going to carry? Should you use cash, credit/debit card, traveller’s check, or forex card? Or should it be a mix of these options? While travelling abroad, one of the biggest decisions to make is - how you carry the currency that you will use during your trip. With one US dollar reaching more than Rs. 74, foreign trips are going to cost a lot for certain destinations. And it’s only wise to do thorough homework and understand various currency exchange rules and options. Gaining a good understanding of the foreign exchange rules and options not only saves you a lot of headaches but also gets you more out of your money. So why not spend some time and do a little homework beforehand? Well, we’ve got you covered. Here’s all you need to know about taking forex abroad or bringing it back from your foreign trip. Here are a few rules to abide by while travelling abroad: What forms of forex to buy You can buy foreign exchange in multiple forms. It can be – cash or currency notes, traveller’s cheques, or pre-paid forex cards in multi-currency. But with so many options available, what is the best way? Well, the best way is to keep your foreign exchange in a combination of these forms. The most preferred method is to carry cash for smaller expenses, along with prepaid multi-currency cards. You can use these multi-currency cards at merchant outlets for payment or take out cash at an ATM. Besides, you can activate debit/credit cards for international payments for the period of your overseas travel. However, you should keep it only for emergencies as these cards attract a high transaction fee. How much forex to purchase As per the Liberalised Remittance Scheme issued by the Reserve Bank of India(RBI), an Indian resident can buy a maximum of 2,50,000 USD per head or its equivalent in any other currency. This amount is applicable per trip abroad or in multiple trips abroad per financial year (April – March). Out of this, you can take 3,000 USD or equivalent as cash (Currency). Besides, an Indian can carry Indian currency (in cash) up to ₹25,000 per foreign trip. You can carry the remaining amount in a forex card and traveller’s cheques. How much in advance to buy While travelling abroad, it’s always better to be prepared in advance. The RBI permits you to buy foreign exchange up to a maximum of 60 days before the date of your travel. You can use this 60-day window judiciously to buy foreign exchange when the rate is favourable. The documents you will need are – a passport, a copy of your flight tickets, and a valid travel visa. Remember, if for some reason you are unable to travel or use that money within 60 days, you need to surrender it to the authorised dealer within 180 days of your return. Where to buy Another big decision is – from where to buy your foreign exchange? Most banks in major cities have designated branches which offer foreign currency, a quick google search or calling your banks' helpline will lead you to such designated branch. Alternatively, you can buy it from an travel agents who are also forex dealer (like SOTC) or even online (through banks and websites of travel agents like SOTC). However each of these channels charges a different margin that may be around 3.5% for dealers, about 2.5% for banks. Remember, you should never exchange your money at the Airports! Airports always charge higher for any goods or services that you take on their premises. The same is true for foreign exchange as well. You should always keep your foreign exchange ready well in advance. At Airports, you will end up paying approximately 8-9% higher rates plus service charges and commissions. So, unless you are ready to pay such exorbitant rates, avoid using airports for any foreign exchange. Using Credit Card Abroad One can use his/her international credit card abroad to avoid the hassel associated with purchasing forex, however it is important to note that most credit card provider charge commission of 3.5 on international purchases. Additionally, as we all know credit cards are not accepted at all places. How much to keep after you return Once you are back from the trip, you are allowed to hold foreign exchange up to USD 2,000, in the form of foreign currency notes or Travelers Cheques for future use. You must surrender any foreign exchange in cash over and above this sum to a bank within 90 days. In case you have Travelers Cheques, you need to surrender within 180 days of return. You may also credit the amount above US$ 2000 to your Resident Foreign Currency (RFC) Domestic Account. How much to bring while visiting India If you are visiting India from abroad, there is no limit on how much foreign exchange you can bring here. However, if the foreign currency notes or travellers’ cheques exceed US$ 10,000/- (or its equivalent), you must declare it. Similarly, if the value of the foreign currency you bring in exceeds US$ 5,000/- (or its equivalent) it has to be declared at the Airport. Once you arrive in India, you need to report it to the Customs Authorities in the Currency Declaration Form (CDF). The bottom line Having a good understanding of foreign currency options and rules is essential for a hassle-free foreign trip. So, if you are going abroad anytime soon, then make sure that your travel planning is not limited to just clothes and sightseeing, but also includes the foreign currency you should be carrying. Also, the rules and regulations keep changing from time to time. So, make sure to get the updated information. Start preparing for your next overseas travel now and ensure smooth financial transactions and a worry-free experience abroad!

Refinancing an existing home loan means availing loans on the same property from another lender or financial institution but with a different rate of interest. There are multiple misconceptions concerning refinancing a home loan such as no new loan can be availed without paying off the existing one. Refinancing means spending the extra money to get all formalities done; the rate of interest cannot be altered, etc. However, the fact is that in the majority of these cases, refinancing leads to reducing monthly installments or interest rates you were paying on your existing loan. Types of refinancing First, let us understand the types of refinancing options are available in the market: Rate-and-term This is the most common type of refinancing option wherein the borrower pays the original loan and replaces it with a new loan requiring lower interest rates. Cash-out When underlying assets collateralizing the loan increases in value, then the borrower chooses a cash-out refinancing option. The value or equity in the asset is exchanged for a higher loan amount. If the value of an asset increases, then rather than selling it, the borrower can gain access to that value with a loan. Cash-in By opting for this, the borrower can pay down some portion of the loan for a lower loan-to-value ratio or smaller loan payments. Consolidation This type of refinancing option can be used when a borrower avails a single at a lower rate and pays his existing debt with the new loan. This leaves their total outstanding principal with effectively lower interest rate payments. Though refinancing can cost anything between 2-5% of the principal amount and requires completing some formalities like paying application fees, doing appraisal and title search, etc; however, here are the reasons to get your home loan refinanced: Securing a lower interest rate This is the most compelling reason for borrowers to avail of refinancing options. Borrowers can reduce their existing interest rates if they opt for refinancing as it will not only bring down their total interest cost but also their EMI. In india in the recent home finance rates have been reaching new low every year, with some financial instituions offering rates as low as 6%. Borrowers could also consider refinancing as an option to shorten the term of their mortgage. Also, lowering interest rates is one of the strong reasons, which leads to several people opting for refinancing. Though the majority of home loans are offered on a floating rate, there are very few lenders that reduce the rates with the base rate declining. Transitioning from a floating rate to fixed-rate or vice versa There could be any scenario related to the interest rate irrespective of whether you have opted for a fixed rate or floating rate. If you have a fixed rate of interest, then declining interest rates might bother you or, if you have opted for a floating rate, even then fluctuation in rates might be a cause of concern. In such a case, you would like to move towards choosing refinancing as an option. Though the borrower might have to pay some charges as pre-closing, that is negligible if compared to savings that would be realized in the long term. Option for top-up If a borrower wants to avail of an additional loan on the existing one, that too at a lower interest rate, then he can opt for refinancing only that additional amount from some other lender. This way he can get the benefit of lower rates. Reducing the loan tenure Many times borrowers opt for refinancing as they get to reduce the total mortgage tenure along with reducing the EMI amount. Not satisfied with the service of the existing lender After some time, you might find your lender’s service unsatisfactory, such as not providing statements on time, not reacting to any change in interest rates, etc. Then refinancing and getting a loan from some other lender would be the best way out for you. Things to consider while refinancing home loan As a borrower, your decision to opt for refinancing should be a well-researched one. You should carefully consider all the relevant factors before taking such a big step. So, here are a few things you must consider before you opt for refinancing: Cost-benefit analysis Before going in for refinancing, analyze all the costs involved, such as processing fees, legal fees, prepayment charges, etc., so that you can have significant net savings. Consider other factors as well Lower interest rate is one of the most significant factors people opt for refinancing. But along with these factors, they should also consider other factors like brand, reputation, customer care policies, customer service, etc. They should also thoroughly check repayment terms and conditions specified by the new lender so that they do not regret their decision afterwards. Refinance timelines This is a huge factor to consider when the borrower is making the decision. The borrower must be vigilant about the stage of their loan repayment cycle they are going in for refinancing and what is their outstanding principal amount. Because it doesn’t make sense to go for refinancing when you have already repaid more than 70% of your loan. Refinancing is an excellent tool if used wisely, as it allows smart management of finances and leads to cost reduction.

Rights of a Tenant Most people leave the comfort of their homes and migrate to a different location for some purpose. To search and settle into a new dwelling is quite a daunting task for most people. Many people land into issues at a later point of time due to some disagreement with the landlord. Therefore, it's important that there needs to be transparency and trust between a tenant and a landlord. It's for this reason that the landlord and tenant must discuss every point and enter into a legal rental agreement. Over a period of time, cities and towns have changed in terms of infrastructure and growth. This has an indirect impact on all types of residents. It’s quite possible that there could be a conflict of interest between a tenant and landlord and the emphasis on the right to access becomes the bone of contention. Every prospective tenant must take personal responsibility to stay aware of his rights to live in harmony and transact without a hassle. Ignorance cannot be an excuse, and it's better to be safe than sorry. Therefore, there is no real hurry to sign the rental agreement before considering all contentious points. Safeguards which a tenant should ensure are recorded in the rent agreement Rental agreement must be in writing. Say ‘NO’ to oral agreements or any form of mutual understanding. Ensure the landlord agrees to providing written receipt of monthly rent payment. The landlord must agree to return the deposit amount to the tenant after the expiry of the rental tenure. In case the tenant wishes to prematurely exit the agreement, the landlord must settle the dues to the tenant in a fair and prompt manner after expiry of mutally agreed notice period. The tenant should have the right to stay peacefully on the let out portion of the property. The landlord and his/her family members cannot walk/barge into the house of the tenant without prior intimation to the tenant. The tenant should have the right to invite guests or family members to his portion of the rented residence. The landlord should agree to bear costs in relation to ordinary wear and tear of the property such as repair of holes, cracks, crevices, plaster getting peeled off, dull and smoky walls, leaky roof, etc. Additional Safeguards The tenant as well as the landlord should keep in mind that any rental agreement having a validity of twelve months or more needs to be compulsorily registered. The tenant should ensure that the rental agreement is executed on stamp paper and a copy is furnished to him. Conclusion Since the last twenty years, every city and town in India has seen exponential growth as a result of job and business opportunities. The urban Indian landscape has evolved convenient modes of living for a huge influx of young employed Indians. The concept of paying guest accommodation for the young urban workforce is a convenient mode of living. The terms of opting for paying guest accommodation are easy on the budget and most preferred by youngsters. However one should ensure that a written rental agreement is entered into between the landlord and the tenant and the said agreement should have enough safeguards for the tenant.