write an essay on financial services system In India in our own words
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The Transfer of Property Act defines a lease as a transaction in which a party owning the asset provides the asset for use over a certain period of time to another for consideration either in form of periodic rent and/or in the form of periodic rent and/or in form of down payment.
Crane Working on a Property
In other words, Lease is a contract between two parties for the hire of a specific asset wherein the lessor retains ownership of the asset while the lessee has possession and use of the asset on payment of specified rentals over a period of lime. Leasing is suitable for financing most investments in productive equipment and is available to a broad range of business and other organizations, such as hospitals, educational institutions, associations and government agencies.