Page-2 of Loan Current Affairs, GK & News
Government of India and Asian Development Bank (ADB) have signed a loan agreement of $60 million for financing project for renovation, protection and community-based flood risk management activities along the Brahmaputra river in Assam. The objective of the program is to enhance the reliability and effectiveness of flood and river bank erosion risk management systems ..
The Indian Overseas Bank (IOB) has recently signed a MoU with National Housing Bank (NHB) for implementing the Rural Housing Interest Subsidy Scheme (RHISS) of the Union Ministry of Rural Development (MoRD). The purpose of the RHISS is to provide subsidy for housing loans taken by those living in rural areas for construction and modifications ..
Category: Government Schemes Current Affairs
Commitment Fee refers to the fee charged by the creditor for unused credit to the borrower. The credit is not completely disbursed by the lender in one go to the builder or the borrower. The disbursal of loan is thus many times linked to the completion of the project. The borrower has to thus pay ..
Chattel Mortgage is a legal term which refers to loans backed by personal movable property or chattel. It is different from traditional loans wherein people used to provide real estate as a security to the loan issuing bank or authority. However, in chattel mortgage, the bank holds the lien until the whole amount of the ..
Bank Rate is defined as the rate at which Central Bank gives loans to other domestic banks like commercial banks, cooperative banks, development banks etc. The loans are generally given on a short-term basis. It is the way the Central Bank manages the economic activity in the country. The Bank Rate, in turn, goes to ..