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Running a business often involves a gap between when expenses need to be paid and when revenue is received. Salaries, supplier payments, rent, utilities and inventory purchases may all be due even when customer payments are still pending. A Working Capital Demand Loan (WCDL) can help businesses manage such temporary cash flow requirements. It is a short-term working capital financing facility …
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Credit derivatives are a type of financial contract that helps parties minimise their credit risk. Two parties hold these negotiable bilateral contracts privately and trade them over the counter. In credit derivatives, creditors can transfer the credit risk of a debtor to a third party. In exchange for taking the credit risk, the third party …
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As India continues to adopt digital payments, understanding the difference between NACH and ECS can help you manage recurring transactions more effectively. Both systems are used by banks, financial institutions, companies and government bodies for repetitive payments and collections. ECS and NACH can be used for transactions such as loan EMIs, utility bills, insurance premiums, salaries, pensions and other recurring payments. An ECS/NACH …
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You can easily transfer EPF online on the EPFO portal, which you may need to do if you switch jobs. If required, your employer will register you on the Employees Provident Fund Organisation (EPFO) portal. As per the regulations, both you and the employer contribute to your account to build a corpus for retirement. While …
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Filing a provident fund claim online can help in the partial or complete withdrawal of funds, allowing you to manage unexpected financial needs or planned expenses. The Employee Provident Fund (EPF) is a savings scheme initiated by the Central Government, where you and your employer make equal contributions, which helps you build a sizeable corpus …
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A Non-Performing Asset (NPA) is a loan or advance that stops generating the expected income for a lender because the borrower has not made the required repayment for the prescribed period. In the case of a term loan, an account is generally classified as an NPA when the interest and/or principal remains overdue for more than 90 days, as per applicable RBI …
A credit review, also called a credit appraisal in some lending contexts, is an important part of the loan approval process. It helps a lender assess how likely a borrower is to repay on time before approving a personal loan or deciding its terms. During the review, the lender may examine your credit history, income, …
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This article explains what an NOC after loan payment means, its full form, what it contains and how to get one after closing a loan. It also covers why securing this loan closure certificate matters for your credit score and legal safety. Reading time: about 5 minutes. A No Objection Certificate, or NOC, after loan payment is the …
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A balance transfer in a personal loan is an excellent option to manage your repayment and even save on interest. This facility allows you to transfer your loan balance from one lender to another, which is a feasible solution when a new lender offers a better interest rate than your current one. However, to make …
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Unified Mobile Application for New-age Governance (UMANG) allows you to complete an EPF balance check easily. On this platform, you can access details about various central and state government services in 13 different languages. In addition to this, you can conduct an EPF enquiry through the official Employees’ Provident Fund Organisation website. Other options include …
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