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Unsecured Loans are Most Secured Assets for Banks Now

Unsecured Loans are now most secured assets for Banks in India - Personal loans are most secured loan for lenders, if considered the recent data shown by CIBIL. Personal Loan borrowers who essentially borrow without any security, rose 26 per...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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