SBI SVA-Nidhi loans: Banking experts say the interest rate under street vendor is quite reasonable as there is no collateral requirement

A bench headed by Justice Ashok Bhushan said the COVID-19 pandemic has not only caused serious threat to the health of the people but has also cast its shadow on the economic growth of the country as well as other countries in the entire world

Loans against property will also be eligible for recast if they don't fall under the personal loan category

The RBI said that a loan moratorium exceeding six months would vitiate the overall credit discipline that would have a debilitating impact on the process of credit creation

RBI Governor Shaktikanta Das at an event in July had advised that banks need to raise capital on anticipatory basis to build up adequate capital buffers to mitigate risks arising out of coronavirus outbreak

Owing to the disruptions in supply chain and business operations, the likelihood of loss of livelihoods and consequent drop in household incomes is high

Last month, Punjab National Bank managing director S S Mallikarjuna Rao said about 5-6 per cent of loan book would go for restructuring as per RBI-approved guidelines

Finance Minister Nirmala Sitharaman last week asked banks and NBFCs to roll out one-time loan restructuring scheme for COVID-19 related stress by September 15

Instead of promoting a new social microfinance institution, the government should build on the existing and vibrant microfinance sector to cater to its envisioned need

Taking to Twitter, Ministry of MSME on Wednesday announced that the central government has launched subordinate debt scheme to provide financial facility to stressed MSMEs

Stressed entities, especially MSMEs, that have defaulted for more than 30 days should be given an opportunity for loan restructuring, says PNB MD and CEO S S Mallikarjuna Rao

PM Modi launched the facility through video-conferencing to startups, agri-entrepreneurs, agri-tech players, and farmer groups for post-harvest management and fostering farm assets

The idea came up during a discussion with Nobel laureate and Grameen Bank founder Mohammed Yunus of Bangladesh, and will be confirmed after discussions with the Finance Ministry and the \"highest authority,\" said Gadkari

Reserve Bank of India (RBI) governor Shakitkanta Das on Thursday said that additional special liquidity facility of Rs 10,000 crore will be provided at the policy repo rate consisting Rs 5,000 crore to the National Housing Bank (NHB)

The bank needs capital to grow and make profit, and \"we have got Clix as they have expressed their interest to merge with the bank. The advantage is that they are capital surplus and we are capital deficit,\" LVB, MD and CEO S Sundar told PTI in an interview

The biggest beneficiaries of the scheme are the MSME entrepreneurs and lending institutions like banks and NBFCs. The government through the National Credit Guarantee Company is taking the biggest credit risk. MSME guarantee scheme is being managed by the Mumbai headquartered National Credit Guarantee Company, which is set up under the Companies Act, 1956. Guarantee company currently handles guarantee for skill development loans, education loans, funds for factoring and loans to micro units. and credit for stand up India initiative. Anand Adhikari, Executive Editor, Business Today, explains why its necessary to build capacity to manage this scheme and how it can be done. Watch the video.Also Read: Flipkart invests Rs 260 crore to acquire minority stake in Arvind Fashions' arm

The financial services sector is witnessing the adoption of new technologies and business model changes, albeit in different and innovative ways

Public sector banks sanctioned Rs 65,863.63 crore to 32,00,430 account holders, of which Rs 35,575.48 crore have already been disbursed; private sector banks sanctioned loans worth Rs 48,638.96 crore to 4,28,014 account holders, of which Rs 20,515.7 crore have already been disbursed

As part of the Aatma Nirbhar Bharat (Self-reliant India) package, the government had last month announced its plan for Rs 3 lakh crore as additional credit to MSMEs and small businesses

The scheme is applicable to all loans sanctioned under GECL facility during the period from the date of announcement of the scheme to October 31 or till an amount of Rs 3 lakh crore is sanctioned under GECL, whichever is earlier