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Daily Archives: July 26, 2014

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Bank finance under PMEGP scheme

Loans and advances, Priority Sector AdvancesBy Surendra NaikJuly 26, 2014420 Comments

(This article clarifies  on   who is  eligible ( the age, limit, qualification) including quantum of subsidy, bank loan and  money to be bought up by the entrepreneur to start up a business  for bank finance under PMEGP scheme.) Online submission of applications for loans under PMEGP is mandatory and no manual applications are allowed w.e.f. 01.05.2016.The…

Education loan scheme in India and its benefits

Loans and advances, Priority Sector AdvancesBy Surendra NaikJuly 26, 20145 Comments

(This article envisages what are the expenses considered for the loan, what will be the quantum of loan and margin, what will be the repayment/holiday, moratorium period, what type of security to be offered, what is a capability certificate, significant tax benefits, etc. ) IBA has revised the guidelines on education loans. Click here to…

What is RuPay card?

Ancillary Services, Indian Financial System, Retail loansBy Surendra NaikJuly 26, 2014

RuPay cards are gaining momentum as a domestic card payment network in India. The RuPay cards payment network is similar to international payment card networks like Visa International and MasterCard. The National Payment Corporation of India (NPCI), a Government of India undertaking, has launched RuPay cards in March 2012.  Since its inception, this domestic network has started…

What is the difference between Liquid fund and Ultra-Short Term Fund?

Mutual Funds, Wealth ManagementBy Surendra NaikJuly 26, 2014

Liquid fund is a type of mutual fund akin to a savings bank account of a bank. The liquid fund does not have lock-in period, so the investor can enter and exit at any point of time from the scheme. The fund is suitable for those who like to park short term surplus money with…

What are the functions of a Mutual Funds organization?

Mutual Funds, Wealth ManagementBy Surendra NaikJuly 26, 2014

The functions of Mutual Fund Organizations (MFO) can be described as  (a) Collection of funds from public (b) Investment of funds collected from public in capital market (c) Proper management of investment portfolio as a trustee to the investor’s money. The investment made by the public/investors in the AMC under a scheme is divided into…

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