Some good mid-week news! An RBI committee for MSMEs recommended doubling the cap on collateral free MSME loans. The committee suggested hiking the ceiling for the loans from INR 10 Lakh to INR 20 Lakh. This comes in light of […]
The Reserve Bank of India (RBI) just ensured that loans for MSMEs get cheaper, by announcing a reduction in repo rates (5.75%). Repo rate is the rate at which the RBI lends money to banks in case of a shortage […]
Indians are going digital. Now, RBI predicts the rise of the digital POS, a payment method wherein customers can use QR codes as POS machines to make payments. More Indians are using their debit and credit cards to pay merchants, which means […]
A recent FIS study showed that online payment frauds in India have doubled in the last year, from 18% to over 37%. The largest affected group is the millennial generation (ages 27-37). FIS’ fifth annual PACE report showed that over […]
Have you faced a failed online transaction and waited weeks before you got your money back? Thanks to a new proposition by the Reserve Bank of India, you could get paid if your bank delays in resolving the issue. In […]
The Reserve Bank Of India will now be restructuring loans worth of Rs 1 Lakh crore for MSMEs in India. The restructuring comes as a one-time scheme that allows defaulting MSMEs to revise the loan tenor and interest rate for up […]
