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NRI Home Loan can be granted for following activities by majority of Banks in India. a) to purchase / construct a new house / flat b) to purchase house site and construction of house thereon c) to purchase an existing house / flat d) to extend an existing house/ additional construction e) to repair / renovate […]
The Ministry of Micro, Small and Medium Enterprises vide Office Memorandum dated July 2, 2021 has allowed Udyam registration for retail and wholesale trade. Bank’s lending to the Micro, Small and Medium enterprises as under is eligible to be reckoned for priority sector advances: What is the definition of MSME? (ii) Further, such MSMEs should be engaged […]
In terms of Government of India Gazette Notification dated June 26, 2020 the definition of MSME – Micro, Small and Medium enterprises is as under: Micro enterprise (i) A micro enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ₹1 crore and turnover does not exceed ₹5 crore; […]
How do banks assess the working capital requirements of MSME borrowers ? Banks have been advised to put in place loan policies governing extension of credit facilities for the MSE sector duly approved by their Board of Directors. Banks have, however, been advised to sanction limits after proper appraisal of the genuine working capital requirements of […]
In terms of Section 2(v) of FEMA, 1999, a “person resident in India” means – a person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include – (A) a person who has gone out of India or who stays outside India, […]
Follow the process below to activate Arvest Online Banking Login through BlueIQ. If you’re enrolling in online banking for the first time, please call (866) 952-9523 or visit your favorite branch. Once enrolled, you will login to Online Banking using a Login ID, password, and challenge questions (challenge questions can be saved and remembered after […]
Steps to Use UPI in London at PayXpert PoS – The NPCI International Payments Ltd (NIPL) has forged a partnership with payments solutions provider PayXpert to internationalize the acceptance of its payment solutions in the UK. This collaboration will make the Indian payment solutions available in the UK on all PayXpert’s android point-of-sale (POS) devices for […]
My daughter is earning Rs 24000 per month and she is 24 years old. She wants to invest Rs 10000 a month. Please suggest some investment avenues.Her horizon is five years. At your daughter’s age around three fourth of her savings should ideally be allocated to an equity -oriented fund. However ,the decision is dependent […]
I am a government employee. My wife is also working and together we bring home Rs 90,000 a month. I have an outstanding home loan of 16 lakhs, which I intend to clear in five years. I invest around Rs 8500 a month in L & T value fund, Kotak Tax Saver and DSP through […]
I want to know the benefit of EEFC Account. Exchange Earners’ Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer Category – I bank i.e. a bank authorized to deal in foreign exchange. It is a facility provided to the foreign exchange earners, including exporters, to credit 100 per […]
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