SBI unveils emergency credit line for borrowers amid coronavirus outbreak

India’s largest lender State Bank of India has recently unveiled an emergency credit line to meet liquidity mismatch for its borrowers, amid the coronavirus pandemic scare. The additional liquidity facility called Covid-19 Emergency Credit Line (CECL) will provide credit up ..

India and ADB sign Loan Agreement of $60 million for Assam

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 ..

Month: Current Affairs - December, 2018

IOB signs pact with National Housing Bank for Rural Housing Interest Subsidy Scheme scheme

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 ..

What is the Commitment Fee?

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 ..

What is the meaning of Chattel Mortgage?

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. ..

What is Bank Rate?

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 ..