Author Archive
Why are banks hesitant to lend to MSE sector with CGTMSE coverage?
MSME sector (Micro, Small and Medium Enterprises sector) plays a crucial role in improving Gross Domestic Product (GDP), creation of employment opportunities and export growth in India. The sector contributes around 30% of GDP, 40% of exports
CGTMSE Coverage for Micro and Small Enterprises
CGTMSE coverage for Micro and Small Enterprises is an initiative of the Government of India and SIDBI to ensure bank credit to Micro and Small Enterprise (MSE) without the insistence for collateral securities or third party guarantees.
21 May 20
CategoryBanking Products & Schemes, Banking Terms - Loans, Everything About
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Essential Commodities Act (EC Act) and its impacts
Essential Commodities Act (EC Act) is an act enacted in 1955 by the Parliament of India with a view to ensuring availability of commodities declared as ‘essential’ at fair price. The EC act aims to avoid hoarding
M-POS (Mobile Point of Sale) & Digital Banking
M-POS or Mobile Point-Of-Sale terminal is a smartphone or tablet equipped with an application/ software provided by a vendor to convert it as a POS terminal. A dedicated wireless device that performs the functions of a cash
19 May 20
CategoryBanking Awareness, Digital Banking Products, Everything About
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Revised MSME Classification norms & Stimulus package
To boost MSME sector, the government has decided to amend MSMED act 2006 to revise the MSME classification norms. Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 presently classifies manufacturing and service enterprises into three categories
Types of Point Of Sale (POS)Terminals
Point Of Sales terminals (POS Terminals) have played a key role in promoting payment card based transactions in India thereby catalysing migration to digital channel payments and digital banking. Today, all banks in India promote transaction through
POS Terminal (Point Of Sale Terminal)
POS Terminal (Point Of Sale terminal) was conceived as an automated version of cash register. POS terminals have undergone a tremendous transformation thereby becoming an integral part of digital payment channels and digital banking. Today, POS terminals
Franklin Templeton and closure of 6 debt MF schemes
Franklin Templeton Mutual Fund’s announcement to wind up six debt mutual fund schemes came like a bolt from blue for investors and markets. The decision was taken in the backdrop of continuous erosion in value due to
Reduction in term deposit interest rates – Recent trends
Indian economy has been facing a slow down during major part of the calendar year 2019. The global slowdown arising out of China-US trade war, reduction in oil price, global economic slowdown etc have had its impact
14 May 20
CategoryBank Loans- General, Fixed Deposit Interest Rate, Indian Economy
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Cash withdrawal facility at POS terminals
Cash withdrawal facility at POS terminals (Point-of-Sale terminals) was introduced in India by RBI in 2009, but failed to gain acceptance among public in India. However, the facility is gradually gaining popularity among the public as general