According to a recent press report Standard Chartered Bank is planning an aggressive expansion of credit-card customers over the next year. Mr. Shymal Saxena, General Manager-Retail Banking Products, India and South Asia said that the bank has started online approval of credit cards where the customers can get an ‘in-principle’ approval within 30 seconds. He… Read More »
A recent press report said that the National Small Industries Corporation (NSIC), a major lender to small and medium enterprises, has announced that it will pass on the increase in interest rates to the borrowers. Mr. H. P. Kumar, Chairman and Managing Director, NSIC said while said that the rising interest rates were causing hardship… Read More »
A recent press report said that Canara Bank has tied up with Canara HSBC Oriental Bank of Commerce Life Insurance Company for a micro-insurance product. This will be offered on the smart cards that it provides in its financial inclusion initiative. At a premium of Rs 100, the insurance will offer a cover of Rs… Read More »
Retails traders, Small Business Units, Artisians, Tiny and Small Scale Industrial Units, Professional and Self Employed persons constitute a sizeable and important chunk of our borrower base. Purpose – to simplify credit facilities to the small borrowers under Industries, Services and Business Sectors (ISB) our Bank introduces Rushikulya Laghu Udyog Credit Card. To whom applicable … Read More »
There are six smart things to know how to convert credit card dues to EMI according to your convenience. Credit card holders may allow card holders to convert their dues into a loan and repay through EMIs, both on new purchases as well as the existing balance. The option may be for purchases made during… Read More »
Purpose – Loan is provided to cover short term working capital for agriculture activities, other domestic requirements such as education, consumable items, medical expenses, etc., term credit needs of the farmers and credit against of debt from non-institutional lenders. Eligibility – Progressive literate and illiterate farmers who are owner cultivators, tenants, and lessee or allotted… Read More »
Purpose – For the purpose of Business Eligibility – Maximum credit facility is 20 % of the Annual Sales Turnover (Own contribution @ 5 % of the C.C. Limit sanctioned is required). Amount of Credit Facility will depend upon the nature of business of the applicant, offering of collateral security and the worth… Read More »
urpose – For setting Small Scale Industries units and investing up to Rs. 10, 00000 in fixed assets excluding land and building; Eligibility – Individual, Professional or Self employed or Businessmen with repayable capacity Margin – 25 % in case of cash credit & term loan Share Money – 1 % of loan amount. Amount… Read More »
A recent press report said that Bank of India has decided to process all credit-related services for benefit of its customers. Mr. Prem Kumar, general manager, of the bank told the press that the bank would process loans within a fixed time frame. He said that all credit proposals between Rs. 1 crore and Rs.… Read More »
According to a recent press report Citigroup Inc told the press that computer hackers have violated the e bank’s network and accessed data on hundreds of thousands of bank card holders in the latest of a string of cyber attacks on high-profile companies. Citigroup said that about one percent of its card customers were affected… Read More »