A recent press report said that most banks in India are either delaying their decision to announce special schemes for festival season due to uncertainty in interest rates or have decided against offering interest subsidy on such schemes. This situation has caused disappointment amidst the customers sitting on the fence towards the big attraction. Further… Read More »
A recent press report said that the Small Industries Development Bank of India is planning to gradually increasing its quantum of finance to micro lenders. The report also said that institution plans to disburse about Rs.1000 crore to MFIs in the current financial year while it was Rs.940 crore last year. The report further said… Read More »
A recent press report said that the focus of SBIs on core business is not enough to shore up the profits in Quarter 1. The report stated that even though the core business is improving significantly, higher investment depreciation, low income from sale of investments, providing for improving the provision-coverage, incremental slippages and provisioning for… Read More »
As per a recent press report, SBI mutual fund has launched a new fund offer, SBI Gold fund which is an open ended fund of fund scheme to enable investors to invest systematically in gold and gain advantage of the recent rally in the metals prices. Further the capital or the corpus collected through the… Read More »
A recent press report said that a committee has been set up look into the issues relating to software exports and the committee will come up with the recommendations by September end. Mr. G. Padmanabhan, Executive Director, Reserve Bank of India said that the committee will come out with viable solutions that will make things… Read More »
A recent press report said that Muthoot Finance Limited has reserved 60 per cent of its Rs.500 crore non-convertible debenture issue for retail investors. As per the report, Muthoot Finance had been the largest gold loan NBFCs that lends money against jewellery and to attract the retail investors the company offers a higher coupon rate… Read More »
As per a latest report the Micro, Small and Medium Enterprises taking loans for modernization programmes can avail a back ended interest subsidy at the rate of 3%. Further the report stated that the Micro, Small and medium Enterprises Minister Mr.Virbhadra Singh has asked the Ministry of Finance to allocate funds towards the MSME schemes… Read More »
A recent press report said that Manapuram Finance Limited expects a growth of 50-60% in gold loan sector during this fiscal. Mr.I.Unnikrishnan said that the bank has no plans to raise the equity capital this fiscal. The company has a paid-up capital of Rs.160 crore. He also said that MFL expects a disbursement to grow… Read More »
Purpose – To purchase New Car/Van/Jeep, Old car/van/jeep which is not older than three years Eligibility – Individuals; Business concerns (corporate or non-corporate), Farmers having irrigated land holding of 10 acres and above are eligible unlike other car loan Quantum of Loan – For individuals: 25 times their Net Monthly Salary / Income or Rs.7… 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 »