Financing for water, sanitation, and health (WASH) infrastructure is known as WASH financing. USAID (United States Agency for International Development) in India aims to create healthier urban communities and improve livelihoods by increasing access to safe water, sanitation, and hygiene (WASH) services. USAID works directly with the Government of India on its three national flagship…
In general terms loans and debts are synonyms for liabilities. When you look at a balance sheet of a company, at the left side of the balance sheet (liability side) below the heads like share capital, reserves, etc. you may find a head ‘loans and debts’ where the company shows the money raised by it…
A company upon payment or satisfaction in full of any charge registered under Chapter VI of the Companies Act 2013 shall give intimation of satisfaction to the Registrar of Companies. The procedure for applying for the certificate of satisfaction of charges registered under the companies act is as under. Mandatory Attachment: Letter of the charge…
In general terms, loans and advances are synonyms for fund-based credit facilities. However, they are differentiated by the banks as loans and advances on the basis of the purpose of a facility, tenure and repayment system, and nature of prime security available to the credit facility, etc. The word ‘Loan’ refers to the sum paid…
Pari-passu is a Latin phrase used in contract law that means “equal footing”. Thus pari passu charge means, having equivalent charge/ rights or say charge-holders have equal rights over the asset on which pari-passu charge is created. Most of the large borrowers are financed by multiple banks in a consortium or under Joint Lending Arrangement…
Condonation of delay by Registrar of Companies: If a company is unable to file the registration of charge within a period of thirty days of the date of creation of the charge/modification of charge, it may prepare an application in the form CHG-10 supported by a declaration from the company signed by the company secretary…
The Ministry of Electronics and Information Technology (MeitY) has made it possible to digitize mortgage and other property documents for several new types of loans, which will give a boost to the digitization of home loans. NESL provides a digital documentation execution service for banks that enables contracts to be made electronically. DDE is a…
Just as the name tells, Electronic Bank Guarantee (e-BG) is the Guarantee issued by the banks on behalf of their customers in digital form. The issuance of electronic bank guarantees completely eliminates papers in the process. The Guarantee issuing bank shall integrate its internal system with the Digital Document Execution (DDE) platform of NeSL (National…
India’s Central Bank has approved the continuation of the Interest Subvention Scheme (ISS) Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial years 2022-23 and 2023-24. However, the scheme is modified with certain stipulations for the above period. According to RBI notification on Wednesday, all Public Sector…
The terms warranty and guarantee are often used interchangeably, but they have subtle differences. The key differences between a Guarantee and a warranty are; The guarantee covers product, service, persons, and consumer satisfaction while the warranty covers products only. A guarantee is a commitment and a warranty is considered the assurance to the customer The…