Credit line

Government extends emergency line of credit guarantee program until September 30

On May 30, the Ministry of Finance further expanded the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) amid the economic disruption caused by the second wave of the Covid-19 pandemic. In effect, this means that the government has extended the scope of the ECLGS to Rs 3 lakh crore to cover loans of […]

Credit line

Hudco approves Rs 2,000 crore line of credit to NBCC for JIL bid

NBCC submitted its revised offer to Hudco on May 22, with the approval of the Ministry of Housing and Urban Affairs (MoHUA). In a letter to Hudco, NBCC has requested a letter of comfort (LoC) for funding of Rs 2,000 crore, as per the requirement of its revised resolution plan, a source said. State-owned Housing […]

Credit line

Line of credit vs credit card vs short term loans: which one to choose?

The three options carry different risks and costs. Therefore, experts say that one should evaluate before making a choice. The coronavirus outbreak has left people in dire straits due to job loss, pay cuts and business closures. As this has led to erratic income, industry experts say it has increased the demand for monetary support […]

Credit line

FISME urges RBI to defer installment payments under emergency line of credit guarantee scheme

“When it comes to crisis, the first expense that gets cut is payroll. It is our humble prayer to RBI and the government, not to let an MSME (Micro, Small and that all efforts to save her have failed.The alternative is frightening. The Federation of Indian Micro, Small and Medium Enterprises (FISME) has suggested 10 […]

Credit provider

Slice, provider of credit for young workers, targets 1 billion gross transactions

Slice, a credit and payment startup aimed primarily at young professionals, has raised a cumulative debt of Rs 165 crore from 18 major financial institutions. This includes Northern Arc Capital Limited, Vivriti Capital Private Limited, AU Small Finance Bank, Incred Financial Services Limited, Pace Fincap Private Limited, Western Capital Advisors and Innoven Capital India. Of […]

Credit line

Review under the Flexible Line of Credit Arrangement – Press Release; staff report; and Statement by the Executive Director for Chile

Chile: review under the flexible credit line agreement – ​​press release; staff report; and Statement by the Executive Director for Chile Publication date: May 21, 2021 Electronic access: Free download. Use the free Adobe Acrobat Reader software to view this PDF file Summary: […]

Financial credit

American Eagle Financial Credit Union President and CEO Announces Planned Retirement

May 15, 2021 American Eagle Financial Credit Union (AEFCU) today announced that the president and CEO of the nonprofit, Dean Marchessault, will retire at the end of 2021, allowing for a transition process over the next seven months. Dean’s decision to retire will end 22 remarkable years of service with Connecticut’s largest community credit union, […]

Financial credit

“On Mission” with Tillery Durbin of 121 Financial Credit Union

Each week on “On Mission” we chat with community leaders who want to make a positive impact in the region. Today our host Wendy Norfleet speaks with Tillery Durbin from 121 Financial Credit Union. 121 Financial Credit Union is the hometown credit union of Jacksonville. They have been in the community for 86 years and […]