Loans & Advances MSME Loan

Government Directs ‘Common MSME Loan Product’ for all PSBs For 59 Minutes Loan

The finance ministry has directed all the Public Sector Banks (PSBs) to create a common MSME loan product with integrated features and common documentation for loan requested through new initiative www.psbloansin59minutes.com. Any Indian citizen may get approval for MSME loan upto Rs One Crore via this portal in 59 minutes. The facility is available for businesses […]

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Unique Document Identification Number (UDIN) For Checking Authenticity of CA-Certified Documents

Unique Document Identification Number (UDIN)  is being introduced by CA Institute for Checking Authenticity of CA-Certified Documents. Using UDIN, Banks and other regulators like RBI, SEBI etc, will now have a mechanism to check the authenticity of various documents certified by practising chartered accountants. The new system has gone live from July 1 UDIN is introduced to curb […]

Loans & Advances

SBI, ICICI, PNB Raises MCLR Lending Rates, Loan EMI to Cost More Now

Bank’s MCLR Rates Hike – Top three lenders in India SBI, ICICI, PNB bank has raised their MCLR lending rates by 0.1% making loans costlier for consumers. Increased Interest Rates are effective from 01st June. MCLR (marginal cost of funds based lending rate) is the interest rate whichis applicable mainly on Housing and Car Loan. With […]

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CGTMSE To Cover Retail Trades & Collateral Loans also

CGTMSE Coverage extended to Retail Trade & Collateral Loans also – Now Retail Trades & partial collateral loans may be covered under Credit Guarantee Scheme of CGTMSE. A decision in this regard taken under “Rebooting CGTMSE” organized by Ministry of MSME and CGTMSE on February 20, 2018. Following modifications were recommended for implementation : Charging Annual […]