Business
BANKING FINANCE
Marketing Strategies For MSME Business By Banks
Importance of MSME Sector The Micro, Small and Medium Enterprise sector is crucial to India's economy. Micro, Small and Medium Enterprises (MSMEs) are amongst the strongest drivers of economic development, innovation and employment. The MSME sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing output, more than 40% of exports, contributing 29 % of the GDP while creating employment for about 111 million people and manufacture around 8,000 quality products for the Indian as well as International markets, which in terms of volume stands next to agricultural sector.
10+ min |
July 2020
BANKING FINANCE
Agriculture Value Chain Financing
(A booster for priority sector lending)
4 min |
July 2020
BANKING FINANCE
INTEREST SUBVENTION SCHEME TO FORMALIZE MSMES AND FACILITATE GROWTH
Introduction: Micro, Small and Medium Enterprises (MSMEs) plays an important role in Indian economy, it accounts 45% of manufacturing output of country. In terms of employment generation, it accounts next to agriculture sector, contributing 8% to GDP. This sector is the backbone of India's economy and is considered the 'cradle' of 'Make in India' initiative.
5 min |
July 2020
BANKING FINANCE
INTEREST RATES IN BANKS AND ITS ROLE IN ECONOMY
Abstract This artefact discuss briefly about how the different interest rates offered by banks to different customers such as a housing loan borrower or a pensioner or a small businessman. What are the factors that are driving force to define these rates? The phenomenon of coupon rate and yield to maturity in bond market is also inscribed briefly. I have also illustrated How these interest rates are being used as an instrument to control inflation, recession and deflation in the economy. At the end I have scripted about recent rate cuts by Reserve Bank of India to upturn the down sliding economy due to Covid-19 pandemic and its effectiveness.
10 min |
July 2020
BANKING FINANCE
CIBIL MSME RANK - AN ADDITIONAL DUE DILIGENCE TOOL
CIBIL MSME Rank is a tool to Access the Credit Risk ranking of Micro, Small and Medium Enterprises to make informed lending decisions, CMR is a credit risk for MSMEs that predicts the probability of an MSME becoming NPA in the next 12 months. It helps us to understand the credit behaviour of MSME as well as the probability of default based on the rank. It is applicable to MSMEs with aggregate commercial borrowing between Rs 10 lakhs to Rs 10 Crores.CMR provides a rank to the MSME based on its credit history data on a scale of 1 to 10.CMR 1 being the best possible rank for the least risky MSMEs and CMR 10 being the riskiest rank for MSMEs.The lower the CMR, the lower the Risk of NPA associated with the MSME.
3 min |
July 2020
BANKING FINANCE
INDUSTRY NEWS
FM launches new facility for issue of PAN in just 10 minutes
10+ min |
July 2020
BANKING FINANCE
RBI CIRCULAR
Extension of timeline for finalization of audited accounts
6 min |
July 2020
BANKING FINANCE
RESERVE BANK NEWS
Banks to raise Rs 1,50,000 crore in next 18 months
10+ min |
July 2020
BANKING FINANCE
BANKING NEWS
Indian banks boost holdings of corporate notes
9 min |
July 2020
BANKING FINANCE
Corona Would Go; We Won't
"Tough times don't last, tough people do"
4 min |
June 2020
BANKING FINANCE
HOW TO DEAL WITH NEW CHALLENGES IN BANKING : MERGERS AND CORONA-VIRUS
New dawn from 1st April with full of challenges are sure to bring structural benefits and allow these robust entities to become flag bearers for Indian economy and padded up customers. Foremost, it would be ideal if along with good customer service focus is placed on creating goodwill too. Taking preventive measures by branches by providing masks and liquid soap sachets across customers touchpoints and service facility tables to safeguard health and safety in light of coronavirus outbreak would go a long way in reconnecting new customers of merged banks.
4 min |
June 2020
BANKING FINANCE
NEGATIVE INTEREST RATES IN INDIA - A REVIVAL GAME?
The Buildup… The ongoing mayhem and panic created by coronavirus around the globe is well exhibited. Economies and businesses are shrinking by the day on account of lockdowns and retrenchment and people are waking up to uncertainty but with a hope to see light at the end of the tunnel.
7 min |
June 2020
BANKING FINANCE
ROLE OF TECHNOLOGY AND INNOVATIONS AMIDST COVID - 19
As it is rightly said The show must go on, it is the beauty of human life that we can't stop living, just by surrendering to the irony of the nature. With Corona outbreak becoming devastative and uncontrollable threat for human life across the globe, Innovation, whether it may be technological alongside of inventing medicine or maybe strategic to fight and get rid of COVID 19, is need of the hour and mother earth. Technology is playing a significant role in strengthening world's back in one or the other facets of human life and is helping the world to move ahead. Let us first see few innovations round the globe amidst COVID 19 outbreak.
10+ min |
June 2020
BANKING FINANCE
COVID-19 OUTBREAK: HOW TO MANAGE FINANCIAL SERVICES DURING THIS CRISIS
Introduction As coronavirus has hit hard the entire nation, Prime Minister Shri. Narendra Modi has imposed a nationwide lockdown in an attempt to slow the spread of the coronavirus.
9 min |
June 2020
BANKING FINANCE
BANKING INDUSTRY-CURRENT SCENARIO & THE NEXT DECADE-WAY FORWARD
In the run-up to the 21st-century digitization, Banking industry is transforming to a different paradigm which is sea different what we have witnessed so far in the last five decades since it's nationalization in 1969. Today's banking scenario and yesterday's banking sector, the paramount difference is obvious DIGI -BANKING.
10 min |
June 2020
BANKING FINANCE
Will India Be Able To Combat Corona Wave?
All of us are aware by now the havoc that has been caused by COVID-19 all over the world, especially in Europe and USA. “The worst economic crisis since 2008”, “The FTSE sees its biggest hit since 1987”- intimidating isn’t it? It’s because saying “It’s a setback” and “We will recover” doesn’t gain the media hits that publicising fear does. We recovered from outbreaks ranging from the SARS epidemic to the Spanish flu, the greatest pandemic in modern history. Influenza hit the economy at a time when financial institutions weren’t half as robust as they are today, and even weaker due to World War 1 and the economic catastrophe it caused. But we came through, didn’t we? Expert speculation relies on empirical evidence to the extent that logic and faith is undermined, and it is why such speculation is not a perfectly reliable measure to predict markets and their movement. Hence, in these uncertain times, Lakewater feels optimism is the only tool at our disposal, and it would be rather wise to use it.
4 min |
May 2020
BANKING FINANCE
Impact Of Covid-19 Pandemic And Amalgamation In Indian Banks
The coronavirus (COVID-19) outbreak is causing widespread concern and economic hardship for consumers, businesses and communities across the globe including the banking industry as a whole.
8 min |
May 2020
BANKING FINANCE
IT IN BANKS & FRAUD RISK MANAGEMENT
In today's scenario, technological infrastructure has become an inevitable part of the reforms process in the banking system. With the advent of technology, many security concerns have also crept in. These loopholes in security lead to the occurrence of cyber crimes which not only gives financial setback to the bank or its customers but also pose a threat to the reputation of banking system in India. Every bank should have standards to deal with the risk of frauds occurring on account of technological advancements. This article gives a fair understanding of the role of technology in banks, various techniques of committing cyber frauds and suggestions for banks to prevent or manage the risk of frauds due to technology.
10+ min |
May 2020
BANKING FINANCE
INDUSTRY NEWS
The Reserve Bank of India has allowed companies to opt for a three-month moratorium on loan repayments to combat lockdown, data with individual banks suggests that not many firms have chosen to defer routine interest payments for now.
5 min |
May 2020
BANKING FINANCE
RBI CIRCULAR
RBI CIRCULAR
7 min |
May 2020
BANKING FINANCE
RESERVE BANK
RESERVE BANK
5 min |
May 2020
BANKING FINANCE
GST NEWS
GST Council has agreed to discuss the issue of the late fee over delayed filing of returns at its next meeting slated later this month.
6 min |
May 2020
BANKING FINANCE
PUBLIC SECTOR BANKS DESERVE RESPECT
"The resources of the financial system are held by financial institutions in trust and have to be deployed for the maximum benefit of their owners' viz., depositors and investors. The safety of their funds should be the primary concern of banks and regulatory authorities and ensuring solvency, health and efficiency of the institutions should, therefore, be central to effective financial reform." -Report of the committee on Financial Reform, 1991 (Narsimham Committee)
10+ min |
May 2020
BANKING FINANCE
EMERGENCY: A BITTER ALTERNATIVE TO 21 DAYS LOCKDOWN
India has taken the extreme measure of enforcing a 21-day lockdown, amidst corona outbreak, making it the first time a nation was shut under the provisions of the Disaster Management Act, 2005.
10+ min |
May 2020
BANKING FINANCE
CO-OPERATIVE BANK NEWS
CO-OPERATIVE BANK NEWS
5 min |
May 2020
BANKING FINANCE
Blockchain Technology: Will It Change The Way We Bank?
Blockchain is a computer program that carries time specific data which is distinct and cannot be modified. This data is controlled by a cluster of computers and is not owned by any single entity.
8 min |
April 2020
BANKING FINANCE
OMBUDSMAN FOR DIGITAL TRANSACTION
On 1st. July 2015 Govt Of India launched Digital India campaign. The motto is Power to Empower. The Govt. targeted to transfer maximum financial & non financial transaction on digital platform. Govt. has also taken initiatives to moving towards cashless economy. In our country the cash handling cost is approx. 0.25% of GDP.
5 min |
April 2020
BANKING FINANCE
BAILOUT, CREDIT RISKS AND TECHNOLOGY - HOW WILL THE BANKING INDUSTRY SURVIVE COVID-19?
Like every other industry in the world right now, our banking industry is reeling under the effect of the Covid-19 pandemic too. To be sure, I believe the global financial industry is in a much better position to brace this impact than it was in 2008 in the wake of the global financial crisis.
4 min |
April 2020
BANKING FINANCE
SALARIED EMPLOYEES WHO GET HRA CAN'T CLAIM DEDUCTION UNDER SECTION 80GG ON RENT PAID
The income tax department recently sent notices to a number of salaried employees for claiming deduction for rent paid under Section 80GG of the Income-tax Act, 1961, even though they were receiving house rent allowance (HRA) from their employers.
2 min |
December 2019
BANKING FINANCE
EXTERNAL BENCHMARK FOR FLOATING
The amended Reserve Bank of India Act, 2016 has mandated the RBI to conduct monetary policy for achieving price stability as its primary objective while being mindful of growth. This mandated objective is difficult to achieve unless supported by a robust transmission mechanism (Acharya, 2017).
10+ min |