EMI stands for Equated Monthly Installment for the loan you avail of from your bank. The EMI consists of the principal portion of the loan amount and the interest. The installment amount is fixed on your loan depending upon the loan amount, tenure of the loan, and rate of interest. The higher the interest rate…
Housing loans are sanctioned by banks mainly on the assessment of prospective borrowers’ monthly repayment capacity for the entire tenure of the loan and borrower’s credit-payment history provided by credit information companies like CIBIL about previous loans/credit cards etc. enjoyed by the customer from various financial institutions. Also, Banks generally fix an upper age limit…
You might have identified a property for purchase that suits your requirement. In my previous article ‘How to examine title deeds of house property?‘ among other things, I have suggested the buyers consider important aspects before entering into the sale agreement with the vendor for the purchase of a flat/house. In this post, we will…
Any credit facility provided to a borrower company engaged in an infrastructure facility is known as ‘infrastructure lending’. The activities such as developing, or operating, and maintaining, or developing, operating, and maintaining any infrastructure facility of the following sector are called infrastructure projects. a road, including toll road, a bridge or a rail system; a…
Reserve Bank of India has framed guidelines for extending working capital finance to the Information Technology and Software Industry, based on the recommendations of the National Taskforce on Information Technology and Software development. However, said guidelines prepared by the central bank are not mandatory for lenders. They are free to modify RBI framed guidelines, built…
RBI today announced to double collateral-free loans to Rs 20 lakh for Self Help women groups from existing limit of Rs.10 lakh under Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM). In its notification dated August 9, the regulator advised the banks to follow the below instructions in respect of Security and Margin for…
The corporate borrowers, whose loans were restructured under the first recast resolution plans under the RBI’s circular of 6 August 2020, can take another six months to achieve financial parameters laid down by the Reserve Bank of India. RBI on Friday notified to defer the target date for companies by six months to October 1,…
The Pradhan Mantri Awas Yojana (PMAY) (URBAN), was formerly called Indira Awas Yojana and was renamed in March 2016. Housing for All was a mission that was launched by the Government of India targeted at promoting with the aim of boosting homeownership. It aimed at achieving ‘Housing for All’ by the year 2022. All statutory…
Updated on 25.06.2021 (As per the new definition, Written Down Value (WDV) as at the end of the Financial Year as defined in the Income Tax Act and not cost of acquisition or original price, which was applicable in the context of the earlier classification criteria. All enterprises are required to register online and obtain…
Updated on 24.06.2021 Banks that are nominated to import gold as per extant instructions of RBI, may extend Gold (Metal) Loans to domestic jewellery manufacturers, (who are not exporters of jewellery) for non-export purposes and also to the jewellery manufacturers and exporters. Gold (Metal) Loans can be sanctioned only to gold jewellers, who are themselves…