Furthermore, the slowdown in the economy last year has caused significant pain to MSMEs due to high-interest rates in the lending landscape inhibiting their operational capabilities https://bwdisrupt.businessworld.in/article/Reduce-SME-Lending-Rates-Provide-Greater-Credit-Access-Say-Experts/10-01-2024-505420/
Reduce SME Lending Rates, Provide Greater Credit Access, Say Experts Read More »
Financial technology (FinTech) has disrupted traditional lending and made loans more accessible to the underserved and underbanked segments. The rise of FinTech lenders has proved to be a blessing for SMEs as the loan process takes place in a digital manner. This means financing is seamless as the paperwork involved is minimal or even zero.
4 FinTech platforms redefining digital lending for SMEs in India Read More »
Public and private sector banks of India provide loans to eligible businesses and charge interest when equated monthly installments (EMI) begins. Businesses maintaining a credible balance sheet and good credit rating score have a high chance of availing business loans, however, they have to undergo documentation and verification process, and only then the loan is
Compare Business Loan Interest Rates In 2024 Read More »
The embedded finance will cater to the requirements of supply chain finance, business loans, capex loans, factoring and structured finance in the first phase to more than 14,000 manufacturers through over 30 banks and NBFCs https://www.financialexpress.com/business/sme/bizongo-launches-loan-app-next-for-businesses/3359648/
Bizongo launches loan app Next for businesses Read More »
In the dynamic landscape of the Indian financial services sector, recent regulatory guidelines from the Reserve Bank of India (RBI) are catalysing a transformative wave within the financial services ecosystem. While established banking giants appear equipped to navigate the regulatory storm with their diversified portfolios and their adaptive infrastructure, the repercussions for Non-Banking Financial Companies
The 59-minute loan approval scheme for micro, small and medium enterprises (MSMEs) by the government and SIDBI has sanctioned 2.48 lakh loans till January 1, 2024, of which 2.29 lakh loans were disbursed. According to the data available on the MSME Ministry’s dashboard, Rs 85,980 crore loans were sanctioned, as of January 1, while Rs
PSB 59-minute loan scheme: Banks disbursed nearly Rs 70,000 crore MSME loans so far Read More »
It is difficult to estimate whether all Indian SMEs will overcome the big challenges of 2023, as it depends on various factors such as the size and type of the business and the industry they operate in, and the specific challenges they face. https://www.moneycontrol.com/news/business/big-challenges-that-await-smes-in-2023-and-the-strategies-to-overcome-them-10082311.html
Big challenges that await SMEs in 2023 and the strategies to overcome them Read More »
HDFC Bank’s gross advances surged to approximately ₹24.69 lakh crore in third quarter of FY24, marking 62.4% increase from ₹15.21 lakh crore in the previous year. After accounting for transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 60.7% and 3.8% year-on-year (YoY) and quarter-on-quarter (QoQ), respectively, the lender said
HDFC Bank Q3 business update: Gross advances grow 62.4%, retail loans 111% up Read More »
Micro, small and medium enterprises (MSME) play a key role in India’s industrial production and the sector contributes nearly 30% to the country’s gross domestic product (GDP). They account for around 40% of India’s exports and employ 11.10 crore people, according to the 2022-23 annual report of the MSME ministry. The sector’s contribution to the service
Indostar Capital Finance Ltd (Indostar) has sold a stressed loan portfolio with principal outstanding at Rs 292 crore to Encore Asset Reconstruction Company as a step to clean up books. Indostar, which is backed by private equity investor Brookfield, said the sale of the SME loan portfolio comprised several stressed accounts resolved on December 30, 2023
Brookfield-backed Indostar Capital sells stressed SME loans worth Rs 292 cr Read More »