Bank Overdraft & Cash Credit Bank overdraft and cash credit facilities are both forms of short-term borrowing provided by financial institutions to individuals and businesses. Here’s a detailed explanation of each: 1. Bank Overdraft: i. An overdraft is a financial arrangement where a bank allows an account holder to withdraw funds from their account even… Read More »
Gold Loan A gold loan is a type of secure loan where gold jewelry or ornaments are pledged as collateral to obtain funds from a lender. Brief overview of Gold Loans (GL): 1. Collateral: Gold jewelry or ornaments are use as collateral for obtaining a GL. The lender evaluates both the quality and quantity of… Read More »
MudraLoan in India MudraLoan in India function as a means of offering financial assistance to small businesses and entrepreneurs through a range of financial institutions. Overview of how mudra loan work in India: 1. Loan Categories: MUDRA loans are divided into three categories based on the stage and funding needs of the business: a.… Read More »
Mudra loan scheme Mudra loan scheme: The MUDRA (Micro Units Development and Refinance Agency) loan scheme offers support to a diverse array of business sectors and activities. While the specific list of eligible projects may vary depending on the lending institution and their criteria, here are some common examples of projects that can be… Read More »
Mudra Project Profile MUDRA (Micro Units Development and Refinance Agency) project profile refer to the detailed descriptions of various types of business projects or activities that are eligible for financing under the MUDRA loan scheme in India. These project profiles provide information about the nature of the business, its scope, investment requirements, potential profitability,… Read More »
The definition of Invoice financing Invoice financing also known as invoice discounting, is a form of short-term financing in which a company sells its accounts receivable (invoices) to a financial institution, such as a bank or a non-banking financial company (NBFC), at a discount. The financial institution advances a percentage of the invoice value to… Read More »
How do I find out my UAN number from my PAN The UAN (Universal Account Number) is a unique identification number assigned by the Employees’ Provident Fund Organization (EPFO) of India exclusively to each account holder. If your UAN is not linked to your PAN in any way. Therefore, you cannot find out your UAN… Read More »
Mudra loan Mudra loan, which stands for Micro Units Development and Refinance Agency, is a government initiative in India aimed at offering financial assistance to micro and small enterprises. Its primary objective is to provide crucial support to these businesses. The project report for a Mudra loan would depend on various factors, such as… Read More »
