LIC launches ‘Pradhan Mantri Vaya Vandana Yojana (Modified- 2020) Scheme.

Pursuant to Finance Ministry modified the PM Vaya Vandana Yojana (PMVVY) pension scheme for senior citizens, Life Insurance Corporation of India (LIC) has launched the non-linked, non-participating, pension plan subsidized by the Centre. The scheme will provide an assured rate of return of 7.40% per annum. This plan will be available for sale commencing from…

Highlights of RBI’s important Statement on Developmental and Regulatory Policies

On Friday (May 22, 2020), in its statement on developmental and regulatory policy measures, RBI announced several measures to improve the functioning of markets and market participants; measures to support exports and imports; efforts to further ease financial stress caused by COVID-19 disruptions by providing relief on debt servicing and improving access to working capital;…

Loans to Stressed MSMEs: Is guarantee comes from GGTMSE instead of a sovereign guarantee?

According to news reports, Bankers are unhappy to learn that the newly envisaged Rs.20000 crore loan guarantee scheme for micro, small and medium enterprises (MSMEs) will not be available from the Government of India as expected but from the credit guarantee trust fund for micro and small enterprises (CGTMSE). CGTMSE guarantee has its caveats, it…