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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 the menace of forged certifications of ...

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Madras High Court Ruled that Education Loan of Over Rs 4 Lakh Can’t be Demanded as Right


Education Loan above 4 Lakh to be covered as per Bank Guidelines – In a big relief to encounter the higher Non performing Assets (NPA) under Education loan, Madras High Court has ruled that any individual can’t demand the Education loan of over Rs 4 lakh as their right, without any security, and that its sanction is covered by bank ...

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Bank’s Legal Notice Served Through WhatsApp is Valid For Loan Recovery


A big relief for lenders and bad news for defaulter of  loan or credit card payment or someone who are evading the bank by not receiving their calls or changing your residence ? –  Bombay High Court has ruled that the Legal notice or messages sent through WhatsApp messaging app are valid legal evidence under law, and the blue tick ...

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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 hike in MCLR of these ...

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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 Guarantee Fees (AGF) on Outstanding ...

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What is P2P Lending ?

Recently P2P lending is much in news after RBI revised the policy with Rs 50,000 maximum cap. What exactly is the P2P lending ?  P2P lender simply brings lenders and borrowers together on a common online platform so that they can transact with each other. P2P lending is a type of debt financing that allows individuals as well as businesses to ...

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Bank Loan For DDA Housing Scheme 2017-18

Compare the Bank loan of different bank for DDA Housing Scheme. Delhi development authority (DDA) is all set to release the scheme of their 13,000+ housing flats within Delhi. These flats are categorized in various income groups like Higher Income Group, Middle Income Group, Lower Income Group along with Janta flats. These flats are located at various part of Delhi. ...

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How To Calculate Security Coverage Ratio ?


Security Coverage Ratio  – This is the most required terminology in the field of loan assessment. Majority of loan inclusive of Term loan and SODH limits are assessed based on this formula. Security or asset coverage ratio is the measurement tools for company debt obligations against its assets. There are many bankers which define the security coverage ratio as the ...

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