It’s always nice to take a leave from our regular work and spend time with the family and friends on a vacation. It is not an easy task to plan for a travel during vacation, the expenses involved is very huge these days. The banks in our country offer travel loans which meet travel expenses… Read More »
Auto loans are loans offered to customers for the purpose of purchasing new vehicles and also refinancing old one. In India, auto loans fall into three different categories namely two wheeler loans, car loans and commercial vehicle loans. Recent reports say that the sales rate of two wheelers and four wheelers have gone up. Banks… Read More »
The amount by which assets exceed liabilities is called the net worth. This term is applicable to both companies and individuals. In case of an individual, it is the difference between the assets and liabilities of the individual. In business, net worth (sometimes called net assets) is the total assets minus total outside liabilities of an… Read More »
What are bad debts? Most of us would have come across this term at some point of time. Bad debt literally refers to the debt or the money owed by someone which has lesser or no chance of being recovered. This term is mostly found on the balance sheets of companies and banks. In companies… Read More »
Balance sheets form a fundamental documentation of an individual, company, non profit organization or government department or agency showing the current financial condition of the entity. It includes a glimpse into the assets and liabilities of the entity. A balance sheet therefore gives a picture of the net worth of an entity. Balance sheets generally… Read More »
In the background of the earthquake and tsunami in Japan, nuclear reactors have become a heated topic of discussion. Unaffected by the panic created by the nuclear radiation hazard that threatened Japan, India is likely to go ahead with its nuclear plans. Nuclear Power Corporation (NPCIL), the country’s sole nuclear utility, has approached a leading… Read More »
Using cheques for financial transaction is more frequent these days. The use of cheque as a financial instrument is done in the good faith that the cheque will be honored and cleared when given in for processing in a bank. The condition when the actual financial transaction is not possible by the cheque or the… Read More »
Foreclosure charges are the loan closing costs/additional fees associated with the closing of a loan, most often in case of a mortgage loan or home loan. These may include the costs of legal formalities, inspections, penalty fee, etc. In some cases, the payment of loan closing costs may be negotiable. Although the ministry of finance… Read More »
Loan value is the highest amount of credit/loan that a lender/bank is willing to give based on the value and nature of the asset that is used to secure the loan. The assessment of loan is the first step to granting of any kind of secured loan, including a mortgage loan where the pledged property… Read More »
First of all let us see what the core difference between public sector bank and a private sector banks is. Public sector banks are those which are operated by govt. bodies and the employees get salaries from the government funds. Private sector banks are the banks which are controlled by the private lenders with the… Read More »