A credit builder loan is like manna from heaven for people who have poor credit or little to no credit history. But why is that? It is because this type of loan helps them build credit. Once they are able to achieve a good credit score, it becomes easier to get a credit card, and […]
The Government of India passed the Micro Small and Medium Enterprises (MSME) Act, 2006 on 16 June 2006 and it was notified and implemented on 2 October.In this Act, micro, small and medium enterprises have been defined in different ways and their scopes have been specified. Small and medium enterprises form the backbone of industrial […]
You have already made the payment, but the overdue amount is still not getting removed. Apart from this, I want to tell you that your report may also show fake loans, or it may show “Suit Filed.” In some cases, it may show “Settled,” which means you have completed the payment, but the status is […]
In this topic, we will see what Debt Recovery Tribunal (DRT) are, their duties, quantity, optional nature, composition, and the extent and scope of DRTs. We will also study their pecuniary limit and jurisdiction. Along with this, we will cover the process of debt recovery, including the application route and the SARFAESI route. Debt Recovery […]
What Is a Contra Entry? Let us see what a contra entry is today. Actually, in contra entry, the transactions involved are those which we already know very well, such as withdrawing money from an ATM or depositing money into the bank. What Is a Contra Voucher? A contra voucher is used to record transactions […]
How to Increase Credit Card Limit Many people who have a credit card. whether it is an old credit card or they have recently applied for a new credit card. want to increase their credit limit. But they do not know how a credit limit can be increased. Know five such ways through which you […]
If you have a bank account, then this information is very important for you. Because in today’s article, we are going to see in detail what a cancelled cheque is, how to prepare a cancelled cheque, what is the correct method, and when, where, and why a cancelled cheques is required. Nowadays, many institutions, banks, […]
Many students get confused between Debit, Credit, Debtors and Creditors and often assume that debit means debtor and credit means creditor. This assumption is completely incorrect. In this blog, we will clearly explain these concepts with simple explanations and practical examples. Definition of Debtors Debtors refer to people who owes money to the firm on […]
In this blog, we will clearly explain how to read and analyze a Commercial CIBIL Report, especially for professionals dealing with working capital loans, business loans, CC/OD limits, and credit appraisal. Many people judge a borrower only by looking at the CIBIL score. However, in commercial lending, the real picture lies inside the detailed report. […]
Getting a new debit card from State Bank of India is common, but many users get confused about the next step activation. Until you activate SBI debit card, you cannot withdraw cash, make online payments, or use it at shops. The good news is that SBI offers multiple simple ways to activate your debit card. […]
