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Latest Banking News & Financial updates from around the web. Daily updates on Global Banking News, Financial Markets, Economy and News from the different banks.
MSMEs do not need fresh loans – This is strange but true, they do not need any loan even with the Government Guarantee. The major reason,they are not sure how much demand will be there for their products when they resume business activity. They are more concerns about demand generation than loan requirements. Micro, small […]
Collateral free loans under Government Rs 20 lakh crore stimulus package – If you believe on the analysis of Bank of America (BofA Securities), Government-owned banks’ non-performing assets (NPA) could go up by 2-4 percent of the credit in the present COVID pandemic scenario. The real onus of rolling out this 20 lakh crore economic […]
MSMEs New definition by Government – The government of India has changed the much awaiting classification of the existing MSMEs with new one. The new definition of MSME is given by the finance minister where, the government has decided to remove the difference between the definition of manufacturing-based MSMEs and service-based MSMEs. Addition to Investment […]
You will not believe that there are not much takers for RBI’s 3-month loan EMI moratorium offered by various banks due to COVID-19 pandemic. Borrowers of mainly retail and corporate loans of many of the top banks seem to be staying away from availing the three-month EMI (Equated Monthly Instalments) moratorium under the Reserve Bank […]
SBI Rate Cuts by 0.15% – State Bank of India (SBI) has reduced its Fund’s Marginal Cost Based Interest Rate (MCLR) by 0.15 per cent. Apart from this, this country’s largest bank has also started a special deposit scheme with higher rate of interest for senior citizens. SBI said in a statement that keeping in […]
A big consumer base in India is attracting Whatsapp to start the Credit & lending business – Facebook led whatsapp has listed credit as one of its business plans for India in the ministry of corporate affairs filing. Interestingly, no other financial services have been listed in the filings other than lending by the Facebook. […]
Google next big product in the market – a co branded debit card with different banks like Citibank or Stanford Federal Credit Union. A report by TechCrunch reported that the Google is developing both physical and virtual debit cards that will come co-branded with different banks such as Citi or Stanford Federal Credit Union. The […]
The People’s Bank of China (PBoC) has purchased 1.75 crore shares or 1% in one of the largest housing finance lenders in India, HDFC Ltd. China has been buying stakes across major financial institutions in Asia amid the stock market crash in major economies. The Chinese Central Bank has bought 1,74,92,909 crore shares, or 1.01 […]
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