Businesses in India are categorized into Micro, Small, and Medium Enterprises (MSME) based on two key factors: investment in plant and machinery and annual turnover. This classification plays a vital role in defining the economic backbone of the country. The MSME sector contributes significantly to the Indian economy, accounting for: By driving uniform growth across …
Understanding MSME Classification and Government schemes Read More »
The Basel Capital Accord is an agreement made in 1988 by representatives of G-10 countries to establish standardized risk-based capital requirements for banks across the globe. This framework was developed to make financial institutions more resilient in the face of unforeseen events, providing a stable approach to risk management. What is a Basel Accord? After …
The Basel Capital Accord: Enhancing Global Bank Stability Read More »
Charge has different meaning in the English vocabulary, and banking has a special meaning for the word charge. Here we are not describing the service charges debited by the banks on the account. This article will explain the different type of charges lender creates over the asset provided by the borrower as a security. If …
Types of Charge created on Security/ Asset in Finance Read More »
The Indian constitution has a provision for providing information regarding the functioning of Government. Though it has been enacted in the Constitution to make the data easily available for the Citizen of India, the RTI Act, 2005 is enacted. Read our article further to understand the Provisions and features of the Right to Information Act, …
Right to Information- RTI Act, 2005, Provisions & Benefits Read More »
The concept of protecting consumer rights was first introduced in 1986 with the ordinance Consumer Protection Act, 1986. The act was created to safeguard the consumers from dissatisfactory services and goods. But for safeguarding the consumer interest in the modern era, the Act was upgraded in 2019. Thus, the consumer Protection Act, 2019 replaced the …
Consumer Protection Act, 2019 (COPRA) – Features and Provisions Read More »
MUDRA (Micro Units Development and Refinance Agency Ltd) is a financial Institution created by Government to support small scale industries and Startup. It provides support to small industries by financing through Banks, Non Banking Finance Companies (NBFC) and Micro Finance Institutions (MFI). MUDRA was introduced in 2016 by Union Finance Minister to provide easy and …
MUDRA Loan: Pradhan Mandri MUDRA Yojana (PMMY) Scheme Details Read More »
Mortgage is a type of charge bank create on a property for safe lending. Thus it is really important that you have a proper knowledge about types of charges bank creates before applying loan. There are three types of charges banks create on the security provided by borrower. The charges are namely Pledge, Hypothetication and …
What is Mortgage and Types of Mortgage in Bank Loan? Read More »
