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Pradhan Mantri MUDRA Yojana (PMMY): Empowering Entrepreneurs for Economic Growth

Introduction:   The Pradhan Mantri MUDRA Yojana (PMMY) is a flagship scheme launched by the Government of India with the aim of promoting entrepreneurship and providing financial assistance to micro and small enterprises. PMMY plays a crucial role in fostering economic growth, employment generation, and poverty alleviation by offering affordable credit to aspiring entrepreneurs. In […]

The Controversial Recall of the ₹2000 Note: Unveiling the Mystery

In a move that took the nation by surprise, the Reserve Bank of India (RBI) recently announced the recall of the ₹2000 note, triggering widespread speculation and debate. The ₹2000 note, introduced in 2016 as part of the government’s demonetization drive, was intended to curb black money and promote a digital economy. However, the sudden […]

Prime Minister Employment Generation Programme (PMEGP) : Driving Entrepreneurship and Economic Growth

Introduction The Prime Minister Employment Generation Programme (PMEGP) is a flagship initiative by the Government of India aimed at promoting entrepreneurship and generating employment opportunities. Launched in 2008, the program has played a significant role in fostering entrepreneurship and creating a conducive environment for economic growth across the country. PMEGP combines the strengths of financial […]

Understanding the CGTSME Scheme: Unlocking Opportunities with Collateral-Free Loans

In an effort to foster entrepreneurship and support small and medium enterprises (SMEs) in India, the Government of India introduced the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTSME) scheme. Under this scheme, eligible entrepreneurs can access collateral-free loans to fuel their business growth and expansion. This article aims to provide a comprehensive […]

Borrowing from P2P Lending NBFCs in India: Risks and Advantages

Peer-to-Peer (P2P) lending platforms, operating as Non-Banking Financial Companies (NBFCs), have gained popularity in India as an alternative source of borrowing. These platforms connect borrowers directly with lenders, offering a streamlined process and competitive interest rates. However, like any financial transaction, there are risks involved. This article aims to provide an in-depth analysis of borrowing […]

Personal Finance and Budgeting: A Comprehensive Guide for Individuals

Personal finance is an essential aspect of everyone’s life, regardless of their age, occupation, or income level. It involves managing and allocating financial resources effectively to achieve financial goals, cover expenses, save for the future, and build a solid financial foundation. Budgeting, in particular, plays a crucial role in personal finance, helping individuals maintain control […]

6 tips to imrpove your personal loan application

In today's world, we often find ourselves in need of money for various purposes, be it for a medical emergency, home renovation, or education expenses. A personal loan is a type of unsecured loan that can be availed of to meet such financial needs. Personal loans are versatile and can be used for a wide [...]

Should you buy or hire a car ? Think twice before taking a car loan

When it comes to transportation, there are several options available to individuals. Some people prefer to use public transportation, while others prefer to own a car. For those who choose to own a car, the question arises whether to take a car on loan or to use a hired car. In this blog, we will […]

The Growth of Digital Lending in India: Opportunities and Challenges

As India’s economy continues to evolve and adapt to technological advancements, digital lending has emerged as a critical component of the financial ecosystem. The traditional lending model in India has been fraught with challenges such as limited access, lengthy processing times, and high-interest rates. However, digital lending has the potential to disrupt the status quo […]

What banks see while processing your loan applications?

When processing a loan application, banks typically look at several factors to determine whether the applicant is eligible for a loan. Here are some of the things that banks see while processing loan applications: Income Tax Returns (ITR):you must have 3 years ITR’s to prove your sources income before you apply for loans from banks. […]

Why CIBIL Score is important ?

A credit score is a 3-digit score assigned by any of the Credit bureaus — CIBIL, Experian, Equifax or CRIF High Mark, based on your past and present credit behavior. This can range anywhere between 300-900, with higher numbers indicating responsible credit behavior trends. CIBIL score is a credit score that is used by lenders to evaluate […]

Gold loans vs personal loans: Which is better ?

Gold loans and personal loans are two types of loans that are available to borrowers in India. Here are some of the differences between the two: In conclusion, gold loans are a good option if you need a quick loan and have gold to pledge as collateral. Personal loans are a good option if you […]

New tax regime vs old tax regime: What should homebuyers opt for ?

The choice between the old tax regime and the new tax regime depends on individual preferences and financial circumstances. Here’s a brief comparison of the two regimes and their impact on homebuyers: Old Tax Regime: Under the old tax regime, taxpayers can claim deductions on various investments and expenses such as home loan EMI payments, […]

Latest update on Home Loan

As of March 2023, here are some of the latest news and updates regarding home loans in India: It is important to stay informed about the latest developments to make informed decisions about home buying and loan repayment.

RBI repo rate hike: increase EMIs to ease out interest rise impact

Home loan interest burden is set to increase post the RBI’s repo rate hike of 25 basis points. Consequently, EMI per lakh have risen 20-25 percent since the start of this rising rate cycle. Vipul Patel, founder at Mortgageworld, tells you how borrowers can now take some steps to reduce the total interest payable over […]

Income tax benefit for home loan EMI payers

If you have taken a home loan to purchase or construct a house, you can claim certain income tax benefits on the interest and principal payments made towards the loan. Here are some income tax benefits available for home loan EMI payers in India: Deduction on Interest Payment: The interest paid on home loan EMI […]

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