The FinTech Hub
Source: Live Mint PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, has been launched to benefit street vendors. The aim is to mainstream them and improve their lives. What is the PM SVANidhi scheme? It’s a micro-credit scheme, launched by the Ministry of Housing and Urban Affairs, in June 2020. Collateral-free loans are given under…
Source: Live Mint If you are short of funds currently and want the requirement to be met in the immediate future, what do you generally do? Raise a personal loan? Well, it may work in certain cases, for instance, when you desperately need money for medical emergency, for renovating the house or even for the…
Source: Live Mint A robust business credit score is important for securing favorable financing terms and easy business loans. It also helps in sustaining good financial health. Whether a company needs money for infrastructure, equipment, working capital etc., a good business credit score will always go well for availing easy business loans. Therefore, by diligently…
Source: Live Mint The Union government has disbursed ₹1.11 lakh crore approximately, as interest free loans to states between April and January. This money has been disbursed under the Special Assistance to States for Capital Expenditure scheme as detailed in a report by PTI. Pankaj Chaudhary, Minister of State for Finance shared this information, highlighting…
Source: Live Mint India’s private banking sector anticipates an increase in small and personal loan defaults until at least the middle of 2025, say estimates based on the slowdown in economic growth, a situation that is now impacting repayments of lenders primarily in the form of unsecured credits as detailed in a report by Reuters….
Source: Live Mint Your credit score plays an important role in determining your eligibility for loans as well as credit cards. A healthy credit score helps you attract low interest rates on your loan applications. However, if you currently have a low credit score, you can take mindful steps to improve it significantly. Credit scores…
Source: Live Mint A credit score is a three digit number. It typically ranges from 300 to 850. A figure between these two digits predicts an individual’s creditworthiness and summarizes his or her credit history. Lenders use this score to analyze the risk of lending a borrower with funds. A higher score indicates a lower risk and…
Source: Live Mint Navigating credit card statements sometimes becomes a little complicated, especially for new users. Two crucial terms that usually cause doubts are ‘unbilled amount’ and ‘outstanding balance.’ It is extremely important to understand the difference between the two clearly in a bid to avoid unnecessary charges and in proper credit card management. What is…
Source: Live Mint With RBI slashing its repo rate by 25 basis points on Friday, home loan EMIs are likely to see a decline. The revision in monetary policy is seen as the start of the interest rate cut cycle. As a result, loan EMIs are expected to fall. If you are contemplating raising a home loan…
Source: Live Mint Private lending major HDFC Bank has increased its Marginal Cost of Funds-based Lending Rate (MCLR) for the overnight tenure by 5 bps from 9.15 per cent to 9.20 per cent. This is effective from February 7, 2025, according to the bank’s website. Rates for all other tenures are unchanged. Overall, HDFC Bank’s…
