Banking and Finance terms in India What is a Repo Rate?A: Repo rate is the rate at which our banks borrow rupees from RBI. Whenever the banks have any shortage of funds they can borrow it from RBI. A reduction in the repo rate will help banks to get money at a cheaper rate. When the repo rate increases, borrowing from RBI becomes more expensive. What is Reverse Repo Rate?A: This is exact opposite of Repo rate. Reverse Repo rate is the rate at which Reserve Bank of India (RBI) borro..
Cabinet approves modifications in the existing Partial Credit Guarantee Scheme (PCGS) The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the Sovereign portfolio guarantee of up to 20% of first loss for purchase of Bonds or Commercial Papers (CPs) with a rating of AA and below (including unrated paper with original/ initial maturity of up to one year) issued by NBFCs/ MFCs/Micro Finance Institutions (MFIs) by Public Sector Banks (PSBs) through an extension of the Partial Credit Guarantee Scheme (PCGS).
The Cabinet also approved modifications in the ..
Special Liquidity Scheme for NBFCs/HFCs to address their Liquidity Stress The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to the proposal of the Ministry of Finance to launch a new Special Liquidity Scheme for Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs) to improve liquidity position of the NBFCs/HFCs.
The direct financial implication for the Government is Rs. 5 crore, which may be the equity contribution to the Special Purpos..
Government is exploring new financial lending institutions to support small-scale units – Shri Nitin Gadkari Union Minister for MSME and Road Transport and Highways, Shri Nitin Gadkari today said that the government is exploring new financial lending institutions to support small-scale units in terms of financial support. Shri Gadkari said that government is working towards strengthening the NBFCs which will help small businesses to avail easy credit in the coming time.
He was speaking at a meeting via video conferencing with the Members of Calcutta Chamber of Commerce on impact of COVID-19 on M..
Scheme of Special Micro-Credit Facility launched for Street Vendors - Striving towards Atmanirbhar Bharat Scheme of Special Micro-Credit Facility launched for Street Vendors - Striving towards Atmanirbhar Bharat
A Memorandum of Understanding has been signed between Ministry of Housing & Urban Affairs and Small Industries Development Bank of India (SIDBI), here today, in order to engage SIDBI as the Implementation Agency for PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) - a Special Micro-Credit Facility for Street Vendors. The MoU was signed by Shri Sanjay Kumar, Joint Secretary on ..
PM SVANidhi Portal launch (Beta Version) PM SVANidhi Portal launch (Beta Version)
Shri Durga Shanker Mishra, Secretary, Housing & Urban Affairs, today launched the Beta version of PM Street Vendor’s AtmaNirbhar Nidhi “PM SVANidhi” Portal in presence of officials from States/UTs, Banks, Payment aggregators and other stakeholders. Leveraging on the digital technology solutions, the portal provides for an integrated end to end IT interface to users for availing benefits under the scheme.
Aatma Nirbhar Bharat Package – Progress So Far Hon’ble Prime Minister Shri Narendra Modi on May 12th, 2020, announced the Special economic and comprehensive package of Rs. 20 lakh crores - equivalent to 10% of India’s GDP – to fight COVID-19 pandemic in India. He gave a clarion call for Aatma Nirbhar Bharat or Self-Reliant India Movement. He also outlined five pillars of Aatma Nirbhar Bharat – Economy, Infrastructure, System, Vibrant Demography and Demand.
Following the call of the Hon'ble Prime ..
Special Liquidity Scheme for NBFCs and HFCs: Implementation Status The Special Liquidity Scheme of Rs. 30,000 crore for NBFCs and HFCs is being implemented w.e.f. 1st July, 2020 as a follow up of one of the announcements under Aatma Nirbhar Bharat package made by the Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman on 13th May, 2020. The Scheme has been launched to improve the liquidity position of NBFCs/HFCs..
Partial Credit Guarantee Scheme (PCGS) 2.0 extended with greater flexibility to respond to emerging demands As part of Aatmanirbhar Bharat Abhiyan, announced by the Government, Partial Credit Guarantee Scheme (PCGS) 2.0 was launched on 20.05.2020 to provide Portfolio Guarantee for purchase of Bonds or Commercial Papers (CPs) with a rating of AA and below issued by NBFCs/HFCs/ MFIs by Public Sector Banks (PSBs). It was envisaged to purchase Bonds/ CPs of Rs. 45,000 crore under PCGS 2.0 of which the maximum headroom permissible for purchase of Bonds/ CPs rated AA/AA-..
Make In India Recently, Government has taken various steps in addition to ongoing schemes to boost domestic investments in India. These include the National Infrastructure Pipeline, Reduction in Corporate Tax, easing liquidity problems of NBFCs and Banks, various policy measures to boost domestic manufacturing. Government of India has also promoted domestic manufacturing of goods through public procurement orders, Phased Manufacturing Programme (PMP), Schemes for Production Linked Incentives of various Ministries...
Manappuram Finance Limited requires professionals for various job openings WE ARE HIRING
Manappuram Finance Limited, India's leading NBFC, requires professionals for various job openings.
Interested candidates may apply through our career portal: https://www.manappuram.com/careers/
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Regd-off: Manappuram House, Valapad, Thrbsur. Kerala-680567
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DGM ECONOMIST & H Published on Tuesday November 20 2018 & Last Date for Applying this Job/Opportunities is Friday November 30 2018 - Last date for applying this Job/Opportunities is over