Tag Archive for loan

Aditya Birla Finance receives Rs. 1,000 Crore, 7-year ‘green’ loan from IFC

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

IFC, a member of the World Bank Group, has extended a 7-year longterm loan of Rs. 1,000 crore to Aditya Birla Finance Ltd. (ABFL), the NBFC arm of Aditya Birla Capital Limited (ABC). ABFL is a well-diversified non-banking finance company (NBFC) with a long term credit rating of AAA from both ICRA as well as India Ratings. ABFL will use the proceeds to finance renewable energy projects and help the country move towards its target of 175 GW of renewable energy capacity by 2022.

The IFC green loan, sanctioned in March 2018, is an Indian rupee loan under Track III of the Reserve Bank of India’s guidelines for external commercial borrowings.

India’s power sector is one of the largest in the world, but the country’s per capita consumption of electricity is less than a fourth of the global average. The government wants to provide electricity 24×7 to the entire country by 2019, while minimizing the impact on the environment. For that, it plans to increase the renewable energy capacity to 175 GW, comprising solar, wind, biomass, and small hydro, by 2022.

“We are delighted to partner with IFC, with which we have a very good relationship. This is not just about a loan but also about being able to access the expertise that IFC has in this area and together making a small difference to the energy requirements of our country,” said Mr. Ajay Srinivasan, Chief Executive of Aditya Birla Capital. Read more

Know All about HDFC Gold Loan Fees and Charges

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

If you want to utilize your gold jewellery at the best, then do consider a loan against gold. It is one of the easiest ways to fund your needs. A gold loan is a loan where the bank/NBFC grants you finances for personal, farming, or business purposes, without incurring expensive interest rates. The gold jewellery/coin is pledged with the financial institution until the loan is repaid in complete. One of the major providers of this loan is HDFC bank. The HDFC gold loan is simple and quick to access, and you can get between Rs. 50,000 and Rs. 1 cr. This bank is reputed in financial services and products and has hundreds of branches all over India.

After the bank evaluates the gold jewellery, it will apply LTV (loan to value ratio) up to 75 percent and then calculate the exact loan amount you are eligible for. If you wish to take a loan which is of an amount lower than the maximum LTV, then the bank can offer a lower rate of interest. The interest rate of gold loan by HDFC is 11 percent onwards. Read more

BankBazaar to feature Home Loan Products from Karnataka Bank

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

BankBazaar, India’s leading financial marketplace, and Karnataka Bank have entered into an agreement for Digital Home Loans. The exchange of MOU took place at the Corporate Office of Karnataka Bank in Mangalore between Adhil Shetty, CEO, BankBazaar and Mahabaleswara M.S, Managing Director & CEO of Karnataka Bank. With this, BankBazaar will be featuring Karnataka Bank home loan products on its website. The integration will be completed over the next three weeks and the products are scheduled to go live by the end of next month.

Speaking on the occasion, Mahabaleswara M.S., Managing Director & CEO, Karnataka Bank, said: “As a part of Transformation exercise, the Bank has engaged the services of BankBazaar for sourcing the Home Loan leads digitally.  This will be beneficial to millennials and tech-savvy customers to reach the Bank’s Home Loan Products in making the right choice.”

Speaking on the tie-up, Navin Chandani, CBDO, BankBazaar, said: “It is very encouraging to have Karnataka Bank join hands with us for their home loan products. With this tie-up, we expect to build an integrated supply chain with Karnataka Bank. Today, it is impossible for any broad-based business to survive without a definitive online presence. With this partnership, Karnataka Bank will be able to reach a greater number of customers across India, while we will be able to offer a wider product option to our customers, making it a win-win situation for everyone.”

Karnataka Bank, incorporated in 1924, is a scheduled commercial banking institution based in Mangaluru, Karnataka. With this partnership with BankBazaar, the bank looks to expand its customer reach further by tying up with a financial marketplace that sees over 35 million visitors a month. Today, BankBazaar has grown to 85+ partners comprising the biggest public and private sector banks, NBFCs, and insurance companies in India, close to 2000 employees, and presence in three different countries. Read more

Muthoot Finance announces zero interest and easy EMI loan for the purchase of white goods

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Muthoot Finance, India’s largest gold financing company today announces a zero interest and easy EMI loan to the flood affected people of Kerala for buying the white goods. The company to also support the flood relief initiatives announces waiving of services charges for transmitting the funds to ‘Chief Minister Relief Fund’.

The recent disaster in Kerala has affected the regular day to day activities of people. Muthoot Finance thus is in its own way helping the flood victims by providing interest free loan for buying various home appliances such as TV, Fridge, Washing Machine and other house hold items. Read more

Avanse expects 50% growth in education loan disbursements from Northern India

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Amit Gainda, CEO, Avanse Financial Services

Avanse Financial Services (Avanse), a new age education finance company, targets 50% growth in disbursements from Delhi region and overall 45% growth in India for the current financial year. As of March 31, 2018, Avanse’s AUM stood at about INR 2200 crores. For the past 5 years since its inception, Avanse has recorded a CAGR of 157%. So far Avanse has funded over 13,000 students across India and has tie ups with over 550 institutes and consultants in India and globally. Read more

NTPC Inks Rs. 1,500 crore Term Loan with HDFC Bank

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

NTPC Signs Term Loan of Rs 1500 crore with HDFC Bank

NTPC, India’s largest power generating company, has signed term loan agreement for Rs. 1,500 crore with HDFC Bank Limited on 10th July, 2018 for its various projects. The loan has a door-to-door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC and has been extended at an interest rate linked to 3-months Marginal Cost of funds based Lending rate (MCLR) of the bank. Read more

Avanse launches a special education loan offer on the occasion of Women’s Day

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

On the occasion of Women’s Day 2018, Avanse Financial Services (Avanse), one of India’s leading education finance company announces the launch of   an exclusive education loan offer for girl students aspiring to pursue higher education and build a strong future. The benefits include 12 year term as against the available 10 year term, 25% discount on processing fee and a 1% reduction on Rate of Interest. The offer starts from March 8, 2018 and concludes on March 31, 2018.

 

Commenting on this initiative, Amit Gainda, CEO, Avanse Financial Services said, “To commemorate Women’s Day, Avanse is glad to dedicate March 2018 towards fulfilling higher education aspirations of girl students. This offer includes discounts on processing fees, subsidized interest rates and longer repayment tenure and reinforces Avanse’s objective of making quality education affordable to deserving students.”

 

Avanse has always been committed towards making higher education accessible to girl students through attractive education financing products & services. Commenting on the purpose, Amit Gainda added, “We, at Avanse strongly believe that educated women lead to empowered families, stronger societies, a knowledgeable economy and ultimately, a prosperous nation. With active support from the government and society, the past few years have witnessed a significant increase in girls opting for higher education. Avanse’s exclusive benefits for women aim to empower academically inclined girls across India to pursue education in their preferred field in India or abroad.” Read more

CAPITAWORLD TO LAUNCH REVOLUTIONARY ‘SMART LOAN – DISINTERMEDIATION ECOSYSTEM’ – PLATFORM FOR MSME’s”

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

CapitaWorld – a leading digital platform that automates the entire loan value chain has today rolled out the first version of their revolutionary ‘Smart Loan -Disintermediation Ecosystem’, a fully integrated lending system which will be beneficiary for MSME’s thereby creating a new source of credit for a large, thriving sector of the economy whose borrowing options are limited. Read more