How commercial Banks sanction Personal Loan, Consumer Loan & Vehicle Loan?

Commercial Banks extend varieties of credit facilities to individuals like salaried persons, professionals, businessmen by way of personal loan, vehicle loans and consumer loans. Personal loan  will be granted for any legitimate purposes like  whatsoever (e.g. expenses for domestic or foreign travel, medical treatment of self or a family member, even in medical contingencies, meeting…

What is MUDRA Bank?

MUDRA stands acronym for Micro Units Development & Refinance Agency Ltd. It is an institution of Government of India set up for development and refinancing activities relating to non-corporate micro units. At present MUDRA is set up as a subsidiary of SIDBI, pending statutory enactment by the Government. Traditionally commercial banks and financial institutions in…

How agriculture insurance helps farmers on crop losses?

The farmers in India have been inherently facing with on-farm risks like famine; flood, extreme weather etc. Though these types of natural risks cannot be totally avoided, there are many new on-field techniques developed in India to minimize the loss. However, the most important strategy to mitigate the risk is agriculture insurance. The insurance company…

What is a Credit card ?

Banks are issuing credit cards to their customers as well as to general public. The bank on receipt of application from individuals for credit cards, process the same and decides about issuing the cards and fixing credit limit on the basis of the creditworthiness of the customers.The credit cards are issued in the form of…

How to submit PMEGP loan application online?

Online submission of applications for loans under PMEGP is mandatory and no manual applications are allowed w.e.f. 01.05.2016. Individual loan applicants may submit PMEGP loan application to Khadi & Village Industries Commission under PMEGP scheme at following URL. https://www.kviconline.gov.in/pmegpeportal/jsp/pmegponline.jsp The non-individual entities such as Self Help Groups (registration of the SHGs not compulsory), Trust, Under…

What are the conditions apply for loan against FCNR/NRE deposits?

Q: Is there any upper limit for loans against security of NRI’s term deposits like FCNR/NRE? Ans.: Except usual margin requirement, no upper ceiling is prescribed for loans to NRIs or third parties in India against security of FCNR/NRE deposits. However, the loan shall be for the purpose other than the investments specified in FEMA…