Samarth

Your one stop place for everything related to finance and lending

Introducing Samarth

Financial fundas can be difficult to understand, but having the correct knowledge, awareness, and education to achieve your financial goals is important. To assist you in this journey, we are presenting content in an easy-to-understand way so that you can gain all the knowledge without the stress of comprehending complex financial concepts.

We would like to introduce Samarth, a series that simplifies complicated financial concepts in your preferred language. Piramal Finance has partnered with TransUnion CIBIL to offer you all the required content to fulfil your financial objectives.

Samarth is a Language First platform that offers educational videos, credit product information, help, support, and much more, in Hindi, Tamil, Marathi, Telugu, Malayalam, Kannada & Gujarati. Because along with your right intentions, you also need to have the right financial education.

Financial Education Explained in 4 Easy Ways:

Increases Credit Worthiness

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Correct Usage Of Money

Knowing how much to borrow and how much to use can have a significant impact on your growth.

Fulfil Your Dreams

Learn how to accomplish your objectives with better financial awareness.

Minimize Risk and Debt

You can reduce your debt and risk with better financial knowledge and planning.

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How To?

How To Get NOC For Bike

Thinking of selling your old bike or transferring it to someone in a different city or state? Before you do that, you need to get a No Objection Certificate (NOC) from the RTO and your lender (if the bike is under loan). This document is essential to legally transfer ownership and complete re-registration. In this blog, we’ll explain how to get a NOC for bike, why it matters, what documents you need, and how to avoid delays in the process. Key Takeaways NOC is a legal document that shows no dues or objections for vehicle transfer Required for sale, re-registration in another state, or loan closure Issued by the RTO and lender (if financed) Missing NOC can delay transfer or cause legal issues You can apply in person or online (in many states) Table of Contents What Is a NOC for a Bike? When Do You Need a NOC? Who Issues the NOC? Documents Required for Bike NOC Step-by-Step Process to Get a NOC from RTO How to Get a NOC from a Bank or NBFC Common Mistakes to Avoid Final Thoughts FAQs What Is a NOC for a Bike? A No Objection Certificate (NOC) is an official document that certifies: The bike has no pending dues or fines The lender or RTO has no objection to the sale or transfer of the bike The vehicle is not under theft, legal dispute, or hypothecation It is mandatory when transferring ownership to another person or re-registering the vehicle in a different state. When Do You Need a NOC? You’ll need a NOC in the following cases: Selling your bike to someone in a different state or RTO jurisdiction Transferring ownership to another person or family member Relocating permanently to another state and re-registering the bike Clearing a loan from a bank or NBFC and removing hypothecation Without a valid NOC, the RTO may refuse to complete the transfer, and you may face fines. Who Issues the NOC? There are two types of NOCs for a two-wheeler: Type Issued By When Needed RTO NOC Regional Transport Office For ownership transfer or re-registration Bank/NBFC NOC Lender After closing a bike loan (to remove hypothecation) If your bike was purchased on loan, you need both bank NOC and RTO NOC for full ownership transfer. Documents Required for Bike NOC Here’s what you typically need: Copy of Registration Certificate (RC)Copy of insurance policyPollution Under Control (PUC) certificateID and address proof2 passport-sized photographsCompleted Form 28 (for RTO NOC)Loan closure documents + Form 35 (for lender NOC)Original RC (if RTO demands it for stamping) Note: Forms can be downloaded from the Parivahan website or collected from your RTO. Step-by-Step Process to Get a NOC from RTO Step 1: Fill Form 28 Available at the RTO or online at https://parivahan.gov.in Step 2: Submit Required Documents Along with the filled form, submit copies of RC, insurance, PUC, ID proof, and photographs. Step 3: Pay the Fee NOC fee varies by state (usually ₹100–₹300). Pay via cash or online, depending on your RTO’s process. Step 4: Police Clearance Some RTOs send the form to the local police station for NOC verification. Step 5: Receive NOC It usually takes 7–15 working days. The NOC will mention that the RTO has no objection to the bike being transferred or re-registered elsewhere. How to Get a NOC from a Bank or NBFC If your two-wheeler loan is paid off: Request loan closure certificate from the lender Submit a written request for No Objection Certificate (NOC) The bank/NBFC will issue: Loan closure letter NOC Form 35 (used to remove hypothecation from the RC) You’ll need to take this to the RTO to update your registration and get full ownership rights. Common Mistakes to Avoid Not checking for pending challans — May delay NOC processingLosing bank NOC — It’s difficult to get a duplicate laterSkipping hypothecation removal — You can’t sell the bike until it’s doneIncorrect Form 28 details — Ensure RC and chassis numbers are accurateMissing deadline after NOC — Complete ownership transfer or re-registration within the valid NOC period (usually 6 months) Final Thoughts Knowing how to get a NOC for bike is essential if you’re planning to sell, relocate, or clear a vehicle loan. It ensures that ownership transfers happen smoothly and legally. With more processes going digital, getting a NOC has become easier — but you still need to follow the steps carefully and keep all documents ready. A little planning now can save you from major delays later. FAQs Q1. Is NOC mandatory to sell a bike in the same city? Not always. If both buyer and seller are under the same RTO, a NOC may not be needed. Q2. How long is a bike NOC valid? Usually 6 months from the date of issue. After that, you may need to reapply. Q3. Can I get an NOC online? In some states, yes. Visit https://parivahan.gov.in to check availability in your region. Q4. What is Form 28? Form 28 is the application form used to request a No Objection Certificate from the RTO. Q5. Is NOC needed for removing hypothecation? Yes, you need an NOC from your lender (bank/NBFC) after loan repayment. Q6. What if I lost my bank NOC? Contact your bank’s branch and request a duplicate. It may take time and require additional documents. Q7. Can I sell my bike without removing hypothecation? No. The buyer won’t be able to register the vehicle in their name unless hypothecation is cleared.

15-07-2025

PAN 2.0: The Next-Gen Permanent Account Number (PAN) Card

Introduction The Permanent Account Number (PAN) Card is a crucial document for financial and tax-related transactions in India. With the rapid digitalization of government services, India is set to introduce PAN 2.0, a modernized version of the existing PAN card with enhanced features, better security, and seamless integration with digital platforms. In this blog, we will cover: What is PAN 2.0? How is PAN 2.0 different from the old PAN card? How to apply for PAN 2.0? How to get a new PAN Card 2.0? What is PAN 2.0? PAN 2.0 is the upgraded version of the traditional PAN card, designed to enhance security, usability, and integration with modern digital financial systems. It is being developed by the Income Tax Department of India, incorporating advanced digital features such as real-time verification, enhanced fraud prevention, and improved accessibility. Key Features of PAN 2.0 Digital-First Approach: PAN 2.0 will be issued in a digital format (e-PAN) with an option for a physical card. Real-Time Issuance: Faster application process with instant PAN allotment linked to Aadhaar. Enhanced Security: Uses encrypted QR codes, biometric linking, and AI-driven fraud detection. Seamless Integration: Directly linked with banking, income tax filings, UPI, and digital wallets. AI-Based Verification: Prevents duplicate and fraudulent PAN issuance. How is PAN 2.0 Different from the Existing PAN Card? Feature Existing PAN Card PAN 2.0 Format Physical + e-PAN Primarily Digital (with optional physical card) Issuance Time 7-10 days Instant (if linked to Aadhaar) Security Basic QR Code Encrypted QR, AI verification, biometric-linked Verification Process Manual and time-consuming AI-based, real-time verification Integration Used for taxation Linked to UPI, digital wallets, and financial services Fraud Protection Can be misused or duplicated Advanced fraud detection and encryption PAN 2.0 is not just an identity document but a fully digital financial identity system! How to Apply for PAN 2.0? Applying for PAN 2.0 is expected to be a hassle-free, digital-first process. The Income Tax Department will issue it through online platforms, and Aadhaar-linked applications will be processed instantly. Steps to Apply for PAN 2.0 Online Visit the Official PAN Portal Go to the NSDL (Protean) or UTIITSL website (official PAN service providers). The government may also launch a dedicated PAN 2.0 portal for faster processing. Select ‘Apply for PAN 2.0’ Choose whether you want e-PAN (Digital) or Physical PAN Card + e-PAN. Enter Aadhaar Details Since PAN 2.0 is linked to Aadhaar, users can enter their Aadhaar number for instant authentication. Verify with OTP An OTP (One-Time Password) will be sent to your registered mobile number for Aadhaar verification. Upload Documents (if required) In some cases, you may need to upload a passport-size photo and signature digitally. Payment & Processing Pay a nominal fee (if applicable). For Aadhaar-linked applications, PAN 2.0 will be generated instantly. Download e-PAN (Digital PAN) After successful verification, you can download your PAN 2.0 immediately. If you opted for a physical PAN card, it will be delivered to your address within a few days. How to Get a New PAN Card 2.0? If you already have a PAN card and want to upgrade to PAN 2.0, follow these steps: Upgrade Your Existing PAN to PAN 2.0 Existing PAN holders can update to PAN 2.0 via the official PAN portal. Log in with your PAN and Aadhaar details and complete the upgrade process. Apply for a Duplicate PAN 2.0 (If Lost or Damaged) If your existing PAN is lost, you can apply for a reissue of PAN 2.0 with new security features. Apply for a Completely New PAN 2.0 (For First-Time Users) First-time applicants can follow the online application process mentioned earlier. Conclusion: The Future of PAN 2.0 The introduction of PAN 2.0 is a significant step toward modernizing India’s tax and financial system. With instant issuance, enhanced security, and seamless integration with digital payments, PAN 2.0 will make financial transactions easier and safer. For individuals and businesses, PAN 2.0 will simplify tax filings, banking, and financial transactions. The digital-first approach will help eliminate fraud, duplication, and delays in PAN issuance. Are you ready for the PAN 2.0 revolution? Stay tuned for updates as India rolls out this game-changing upgrade!

28-02-2025