Government looks to expand small business loan coverage
In May, finance minister Nirmala Sitharaman had announced the ECLGS to provide top-up loans of up to 20% to borrowers, with outstanding credit up to Rs 25 crore on February 29.
6-month moratorium unnecessary, it can alter credit behaviour of customers: Sanjiv Bajaj
There is no point having a successful operation but ...
Bank of Baroda to offer up to Rs 12k cr loans to MSMEs under credit guarantee scheme
All existing MSME borrowers with outstanding credit of u...
Reserve Bank extends Rs 15,000-cr credit line to EXIM Bank
The central bank said Export-Import Bank of India (EXIM Bank) depends on foreign currency borrowings for its operations and as a result of the COVID-19 pandemic, it is unable to raise the resources, due to which the facility is being extended.
Cabinet approves Rs 3 lakh cr emergency credit line for MSME; loans at 9.25% rate
The scheme aims at mitigating the economic distress being faced by about 45 lakh MSMEs by providing them additional funding of up to Rs 3 lakh crore in the form of a fully guaranteed emergency credit line.
Shored up capital to help private banks drive credit growth: AQF Advisors
‘ICICI, Axis, Kotak & HDFC Bank will benefit in the form of higher deposits’
Should you pay your rent using a credit card amid coronavirus lockdown?
Rent payment is one of the biggest monthly expenditures, especially for youngsters living away from parental homes. In the case of credit cards, accrual of interest gets tricky.
How interest will be calculated if you opt for moratorium on credit card dues amid Covid lockdown
Normally, one can defer payment by paying 'minimum due amount' and roll over the balance outstanding amount to the next month. In this process, the unpaid amount is carried forward to the next billing cycle and 2-4 percent interest is levied on it.
Need financial assistance for private security, facility management, manpower supply: FICCI to FM
Outsourced business services sector, with about Rs 1 lakh crore per annum business, is among the top three Goods and Services Tax contributors that paid approximately Rs 25,000 crore last year. Besides, the sector claims lowest input credit (ITC) amongst all other major verticals.
Wall Street firm dangled up to 175% returns to investors using US aid programs
Arcadia’s pitch offers a glimpse into how some private investors are looking to quickly take advantage of the unprecedented government intervention.
Covid-19: No near-term threat to pharma cos' credit profile'
If the virus outbreak isn't contained over the next three months, supply disruption is likely to be far greater than that in FY17, resulting in pressures on cash flows for players. But the pressure will be less on API players. Given the low degree of backward integration, the report believes half companies may face pressures on their credit metrics.
Govt closely monitoring agriculture credit given by banks: FM
The government in Budget 2020-21 has raised the farm loan disbursal target by 11 per cent to Rs 15 lakh crore for the next fiscal and allocated Rs 1.6 lakh crore to implement various plans in agriculture and allied sectors as it chases the goal of doubling farmers income by 2022.
5 things to know about virtual credit cards
A virtual card may be available to non-credit card holders too. In their case, the virtual credit card will be linked to the debit card or the account.
Suspension of SMS facility in Kashmir affects services of several sectors
"We used to get details like balance, statement, credit or debit details through the SMSes, but since four months, we have not been receiving them. This has caused a lot of inconvenience as we depended on these services," Owais Ahmad, a resident of Ganderbal said.
LIC waives off charges on credit card payments
LIC has said that any credit card originated payments towards renewal premium, new premium, or repayment of loan and interest on loans against the policies will not attract any additional charges or convenience fee its parlance, from December 1.