After the Reserve Bank of India (RBI) cut its policy repo rate by 75 basis points (bps) on March 27, a number of banks and non-banking finance companies (NBFCs) followed by cutting their lending rates.

The prime minister is said to have suggested exploring possibility of creating commodity specific Board or Council so that cluster/contract farming takes place as that will help increase agricultural exports from the country.

The Delhi High Court on Tuesday allowed taxpayers registered under Goods and Services Tax (GST) to claim accumulated CENVAT credit from pre-GST regime till June 30, 2020, and noted that the benefit of transitional credit will be applicable for three years (since launch of GST on July 1, 2017) which is the period mentioned in the limitation Act.

Coronavirus Update: Worried about refund from ticket cancellation? Here is a solution for your problem. Airlines like AirAsia, Indigo, and GoAir are offering credit shells, IE reported. The report said that whenever such mass cancellations take place, it becomes a huge problem for airlines to refund every passenger. In the wake of unprecedented cancellations on […]

Flyers, who had booked flights via Paytm, will receive the refund in their airline credit shell. They can redeem that refund amount in order to book a flight ticket via Paytm website and mobile site.

The RBI announced the liquidity facility under the TLTRO 2.0 window for NBFCs and MFIs after these institutions failed to get funding under the earlier TLTRO scheme announced late in March.

To tackle the current crisis arisen from the COVID-19 outbreak and the consequent nationwide lockdown, the government and the RBI have announced many measures to ease the stress of businesses. 

The loan moratorium, as suggested by the Reserve Bank of India (RBI) last month and subsequently implemented by various lenders across the country, might be able to provide some temporary relief for now but could also play a hand in changing the credit landscape of the banking sector.

Experts say more borrowers are likely to line up for emergency credit from banks as many businesses will be hit by the slump in demand and zero footfall in the market in the wake of the pandemic.

Implementation of three months moratorium on repayment of loan instalments announced by the RBI was also reviewed during the meeting.

The state-owned bank launched an emergency credit line to provide funds to its existing MSME and corporate borrowers in the last week of March, soon after the lockdown was announced.

Having come up with emergency credit lines to help businesses weather the Covid storm, banks are seeing little demand for fresh credit at this stage.

Meanwhile, deposit growth in the banking system rose to 9.83%, falling marginally compared to the previous fortnight.

The meeting, to be held via video conference, will also dwell on credit disbursement since March, with the focus on Covid-19-related credit sanction and offtake.

Cred, a credit card payment app founded by ace entrepreneur Kunal Shah in late 2018, is now all set to foray into digital lending niche. Two very interesting fintech products have been launched by Cred for their million+ loyal users, which will help them to cope with the financial crisis unleashed by the coronavirus. Now, […]

The post Cred Will Offer Credit To Credit Card Users; Enables House Rent Payment Using Credit Card At 1.75% Fees first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

Iowa economic development officials are tentatively endorsing a tax credit for battery storage to complement the state’s wind and solar generation.

Clearway Energy Group, one of the U.S.’s largest clean power developers, is launching a pilot electronic marketplace for renewable energy credits as more states push for solar and wind projects.

Iowa economic development officials are tentatively endorsing a tax credit for battery storage to complement the state’s wind and solar generation.

Clearway Energy Group, one of the U.S.’s largest clean power developers, is launching a pilot electronic marketplace for renewable energy credits as more states push for solar and wind projects.

On Thursday, US Congressman from Pennsylvania Mike Doyle introduced a bill that would establish a federal investment tax credit (ITC) for energy storage. The legislation would allow energy storage project developers, both commercial and residential, to receive a 30 percent tax credit for large-scale, commercial-scale and residential-scale storage projects through 2021.

Iowa economic development officials are tentatively endorsing a tax credit for battery storage to complement the state’s wind and solar generation.

Clearway Energy Group, one of the U.S.’s largest clean power developers, is launching a pilot electronic marketplace for renewable energy credits as more states push for solar and wind projects.

Iowa economic development officials are tentatively endorsing a tax credit for battery storage to complement the state’s wind and solar generation.

The National Credit Union Administration liquidated PEF Federal Credit Union of Highland Heights, Ohio.

The Ohio Division of Financial Institutions has liquidated the Taupa Lithuanian Credit Union of Cleveland, Ohio, and appointed the National Credit Union Administration as liquidating agent.

The Michigan Department of Insurance and Financial Services liquidated Craftsman Credit Union of Detroit and appointed the National Credit Union Administration as liquidating agent.

The U.S. Environmental Protection Agency said it has invalidated 33.5 million renewable-fuel credits sold by an Indiana company for biofuel it didn’t produce, the fourth time the agency has alleged fraud in the program.

From 6 April 2008, all new consumer credit agreements and consumer hire agreements will be regulated regardless of the amount of credit (unless they are exempt). The main exemption is for first charge mortgages regulated by the FSA. ...

In the current climate, whilst many are soul searching about how the financial sector was allowed to get into trouble, Islamic mortgage providers are quietly getting on with their business. The turmoil has had an impact for them but not as devastati...

Hot on the heels of our guide to credit hire essentials we find that the enforceability of the credit hire agreements themselves is back on the agenda. In the case of Wei v Cambridge Power and Light Company (2010) the court decided in an appeal hear...

The credit crunch has affected all areas of life. It is now bringing about changes to the main guidance on UK private finance initiative (PFI) projects: the Standardisation of PFI Contracts (SoPC4). It has been clear in recent months that the ...

This speedbrief outlines the current state of play on some important issues relating to trusteeship, following on from the Pensions Regulator’s Future of trusteeship and governance consultation response this month and recent ind...

As the three European Supervisory Authorities (ESAs) publish a new joint opinion on money laundering and terrorist financing (ML/TF) risks affecting the EU financial sector, Zia Ullah and Ruth Paley take a look at the key risks, noting ...

Standard & Poor's rating agency on  May 6 affirmed Turkey’s long-term foreign currency sovereign credit rating at B+ and long-term local currency sovereign credit rating at BB-. 

On Thursday 2 April 2020, the FCA issued draft guidance and Handbook changes to address the impact of Covid-19 on consumer credit customers who have credit cards, store cards and catalogue credit, personal loans and overdrafts. There is a short win...

On Thursday 9 April, the FCA confirmed measures to support consumer credit customers facing financial difficulty as a result of COVID 19 on personal loans, credit cards and overdrafts. Measures introduced by the new rules became applicable on Tuesda...

LONDON: Nearly 700,000 payment holidays on credit cards have been granted as part of stop-gap measures to support borrowers whose finances have been affected by the coronavirus.Lenders have also provided almost 470,000 payment freezes on personal loans, according to the figures for the period up...

State-owned enterprises face unique challenges when it comes to attracting foreign financing for infrastructure projects. But there are solutions.

The Credit Risk Database contributes to the overall understanding of the small and medium-sized enterprise sector.

MCHP to Present at Credit Suisse Conference