Finance companies – Save Western OH http://savewesternoh.org/ Sat, 09 Oct 2021 05:52:17 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://savewesternoh.org/wp-content/uploads/2021/08/cropped-icon-32x32.png Finance companies – Save Western OH http://savewesternoh.org/ 32 32 Banks and finance companies will offer attractive interest rates on home loans and other financial loans https://savewesternoh.org/banks-and-finance-companies-will-offer-attractive-interest-rates-on-home-loans-and-other-financial-loans/ https://savewesternoh.org/banks-and-finance-companies-will-offer-attractive-interest-rates-on-home-loans-and-other-financial-loans/#respond Wed, 06 Oct 2021 09:37:00 +0000 https://savewesternoh.org/banks-and-finance-companies-will-offer-attractive-interest-rates-on-home-loans-and-other-financial-loans/ New Delhi [India], October 6 (ANI / ATK): To ease your home loan journey, banking and finance companies have started offering attractive interest rates on home loans in India. Companies offer home loans to help individuals buy new home or to ease their financial burden. Across the country, people can opt for these services to […]]]>

New Delhi [India], October 6 (ANI / ATK): To ease your home loan journey, banking and finance companies have started offering attractive interest rates on home loans in India.

Companies offer home loans to help individuals buy new home or to ease their financial burden.

Across the country, people can opt for these services to manage their finances and obtain greater benefits. With easy monthly payments and the ability to choose the repayment term as per your convenience, banks help make your dream of buying a home come true.

Point must be taken into account for a mortgage1. Simple process: Choose a finance company that offers a straightforward documentation process. For the approval of home loans, you will only need minimum documents including KYC or proof of income.

2. Flexible repayment term: Don’t let the term “home loan” mislead you. It offers you to repay the advances over the long term. With the help of EMI Calculator, you can choose the duration according to your repayment capacity.

3. Pradhan Mantri Awas Yojana (PMAY): This4. Effortless Refinancing: It offers ease of home loan transfer. This facility allows you to refinance your existing home loan at a reduced interest rate.

5. High value complementary loan: beyond the value of the loan, there is a balance transfer facility. It is accompanied by an additional loan facility. You can avail up to Rs50 lakes which can be used to meet other financing needs.

Additional Facilities Offered By Home Loan Providers Other services offered to meet your housing needs are listed below: 1. Real Estate File Services: Legal and financial aspects of home ownership are covered. by the real estate file service. It is personalized according to your own needs.

2. Personalized insurance plan: In the event of the unforeseen, it offers an insurance plan to protect your family from repayment of the mortgage.

3. Easy access to account management: The online customer portal, Experia, offers account management at your fingertips.

This story is provided by ATK. ANI will not be responsible for the content of this article in any way. (ANI / ATK)


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Live News Updates: IT, finance companies most ESG compliant in India; Infosys tops Crisil rankings https://savewesternoh.org/live-news-updates-it-finance-companies-most-esg-compliant-in-india-infosys-tops-crisil-rankings/ https://savewesternoh.org/live-news-updates-it-finance-companies-most-esg-compliant-in-india-infosys-tops-crisil-rankings/#respond Mon, 04 Oct 2021 17:44:35 +0000 https://savewesternoh.org/?p=227 Information technology and financial services players are the most environmental, Social, and governance (ESG) compliant companies in the country, and second-largest software exporter Infosys scoring the highest on the key metric, as per scores prepared by Crisil. Companies in oil and gas, chemicals, metals and mining, and cement companies have lower ESG scores, reflecting high […]]]>

Information technology and financial services players are the most environmental, Social, and governance (ESG) compliant companies in the country, and second-largest software exporter Infosys scoring the highest on the key metric, as per scores prepared by Crisil. Companies in oil and gas, chemicals, metals and mining, and cement companies have lower ESG scores, reflecting high natural-resource intensity, and thereby higher emission levels, extractive use of natural resources, potential adverse environmental and community impact, and generally more moderate levels of disclosure, it said.

!1 New UpdateClick here for latest updates

Twitter removes distorted map displaying J&K, Ladakh outside India

After drawing flak over displaying a distorted map of India that showed Jammu and Kashmir and Ladakh as separate country, Twitter has now removed the wrong map. The glaring distortion, which appeared on the career section of Twitter website under the header ‘Tweep Life’, had triggered a heavy backlash from netizens on Monday as they demanded strict action against the microblogging platform that has flouted various rules on multiple occasions in the past.#TwitterBan was trending on Twitter with almost 17,000 tweets. This is not the first time that Twitter has misrepresented India’s map. Earlier, it had shown Leh as part of China. The global map, which grossly misrepresented India’s boundaries, was removed on late Monday evening by Twitter following social media outrage.

India, US alliance most consequential of the 21st century, says Congressman

The relationship between India and the United States is the most consequential one of the 21st century, an influential American lawmaker said on Monday. “I believe the US-India alliance is the most consequential of the 21st century, which is why I’m proud to serve as Vice Chair of the US-India Caucus in the House,” Congressman Mike Waltz said in a tweet. Congressman Waltz is the Vice Chair of the Congressional caucus on India and Indian Americans. This is one of the largest country specific caucuses in the House of Representatives.

Third India-Bhutan Development Cooperation Talks were held today in a virtual mode. Govt of India has committed Rs 4500 crore for implementation of development projects & Rs. 400 crores for transitional Trade Support Facility during Bhutan’s 12th Five Year Plan (2018 – 2023): MEA

Airtel adds more spectrum in UP East to boost network capacity, data speed

Telecom operator Bharti Airtel on Monday said it has added another 28.2 megahertz spectrum to boost network capacity for high-speed data services and it is even ready for 5G technology. With this addition, Airtel claims to have the largest spectrum bank of 72.2 MHz in Uttar Pradesh (East) and is well positioned to serve the booming demand for data services.

Third seed Tsitsipas knocked out of Wimbledon in first round

Third seed Stefanos Tsitsipas became the first big name to exit Wimbledon on the first day of play Moday, losing 6-4, 6-4, 6-3 to Frances Tiafoe of the United States. It was quite a contrast in fortunes for the Greek who only a fortnight ago lost in five sets to Novak Djokovic in the French Open final.

During an operation between Pirtanr and Khukhra in Jharkhand today, troops detected an IED weighing about 10 kg and having a command mechanism in the forest area of village Bnadh. The recovered IED was demolished in situ by the troops: PRO, CRPF

In the meeting, it was unanimously decided to request Congress President Sonia Gandhi to decide the new Congress Legislature Party (CLP) Leader for the State: Devender Yadav, Congress Incharge, Uttarakhand

Uttarakhand High Court stays state Cabinet’s decision permitting Char Dham Yatra with limited number of pilgrims. The court has also ordered live streaming of Char Dham shrines. Next hearing on July 7.

Death toll in Florida building collapse rises to 10, 151 unaccounted for: Official

Reports AFP

DU admissions: Registrations for entrance-based, PG courses likely to start from 3rd week of July

The Delhi University is likely to begin registrations for admission to entrance test-based and postgraduate courses in the third week of July, at least a week prior to starting the process for the remaining merit-based undergraduate courses, a senior official said on Monday. The Supreme Court had on June 24 directed all state boards to declare the internal assessment results of Class 12 by July 31 and gave them 10 days to formulate and notify their evaluation schemes.

From PM Modi to his predecessors, all of them worked to improve relations with neighbours. Atal Ji (former PM Atal Bihari Vajpayee) in fact, once said, “Friends can change, not neighbours”

– Defence Minister Rajnath Singh in Leh

Special court denies bail to ex-IL&FS chairman Ravi Parthasarathy

A special court has denied bail to Ravi Parthasarathy, former Chairman of the bankrupt Infrastructure Leasing and Financial Services (IL&FS) and arrested by the Economic Offences Wing of state police, for allegedly defrauding investors to the tune of Rs 200 crore. Parthasarathy was refused bail recently by the Special Court constituted under the Tamil Nadu Protection of Interest of Depositors (in Financial Establishment) Act.

The bold measures announced by the Finance Minister strengthens India’s engagement with the world. Our Embassies will work proactively to expand tourist flows, utilizing free tourist visas and other supportive measures

– External Affairs Minister S Jaishankar

Healthcare industry captains on stimulus measures

  • Welcoming the announcement, Apollo Hospitals Group Chairman Prathap C Reddy said the announcement by the Finance Minister towards the support given to the healthcare sector is encouraging and augurs well for a quick recovery of India’s economy.
  • Healthcare industry body NATHEALTH President Harsh Mahajan said, “The pin-point focus on augmenting manpower and infrastructural resources for pediatric care is a welcome step and a new beginning.”
  • Welcoming the announcement, Max Ventilator CEO and Founder Ashok Patel said that the finance minister has announced Rs 50,000 crore for the health sector alone implies the centrality that the sector holds at the highest levels of the government.

Kerala gets 14% more NRI deposits at Rs 2.27 lakh crore in 2020

Bank deposits by non-resident Keralites rose 14 per cent to Rs 2.27 lakh crore in the pandemic-hit 2020, proving wrong the prediction that the state was in for a big trouble as over 12 lakh of them had returned to the state last year. According to the World Bank data, the country received USD 83 billion in remittances in 2020, down just 0.2 per cent from USD 83.3 billion in 2019. The Bank also said Kerala saw USD 267 drop in monthly remittances per NRI, without quantifying it, though. Yet this was a massive improvement from the widespread fears the planners in the state had at about 25 per cent plunge.

Two CRPF personnel, including officer, injured during encounter between security forces and militants in Parimpora area of Srinagar: Officials

Punjab DGP Dinkar Gupta today held a high-level meeting to review the recent drone movements and threats posed by them, in view of the IED explosion at the Air Force base in Jammu. Police chiefs have been directed to also identify drug hotspots and arrest drug smugglers.

Reports ANI

Stimulus package for tourism industry: Here’s what experts say

  • Tourism secretary Arvind Singh said the tourism ministry was in touch with both the industry and the finance ministry and called the measures ‘welcome steps.’
  • Rajeev Kohli, the joint managing director of Creative Travel that specialises in inbound travel said the measures were a bit like ‘smoke and mirrors.’
  • “The finance minister has fulfilled her obligation of mentioning tourism but there was little substance. For an industry that once accounted for such a huge portion of the Indian GDP and employment, the government felt about Rs 300 crore was sufficient to resolve 18 months of damage. Rs 10 lakh loans will be helpful for some of the smallest players for sure, but will not go far for the majority,” said Kohli.
  • Madhavan Menon, managing director at Thomas Cook India said the measures augur well for the tourism industry and will help build consumer confidence in travel.
  • MP Bezbaruah, secretary general at Hotel Association of India (HAI) said the finance minister’s announcement on free visas has a very strong symbolic message that the country has the confidence to welcome visitors and that tourism and hospitality is a strong pillar of the post-Covid economic recovery strategy.

Indian Olympic Association (IOA) accepts SRL Diagnostics’ offer to partner as ‘Lab Diagnostics Partner’ to provide services to Indian athletes and officials attending the 2020 Tokyo Olympic Games and 2024 Paris Olympic Games.

Stimulus package: Foxconn on PLI scheme extension for electronics

“We are delighted that the PLI scheme change in the base year has been extended by the Government of India in the light of a challenging year for all companies due to the pandemic situation. This thoughtful change will help us to accelerate our business and thereby achieve the qualifying revenue under the PLI Scheme,” said Josh Foulger, Country Head and Managing Director, Rising Stars Mobile (A Foxconn Technology Group Company).

Chinese EV battery maker CATL extends deal with Tesla

Chinese electric vehicle battery maker CATL said on Monday it has extended a battery supply deal with U.S. EV maker Tesla Inc to 2025. Ningde-based CATL said in a stock exchange filing that it would supply battery cells to Tesla, which is making Model 3 sedans and Model Y sport-utility vehicles in Shanghai, until December 2025.

Appointments Committee approves extension in the term of re-employment of Umesh Sinha as Deputy Election Commissioner, Election Commission of India, on contract basis for a further period of one year i.e. up to June 30, 2022, or until further notice: Govt of India

PM hails stimulus package

ASSOCHAM on Rs 6.29 lakh crore stimulus package

”Monetary expansion of the Emergency Credit Line Guarantee Scheme (ECLGS) by Rs 1.50 lakh crore, as sought by ASSOCHAM through various presentations to the government, would provide immediate relief to the MSMEs which require immediate working capital with unlocking of the economy in several states,” ASSOCHAM secretary general Mr Deepak Sood said in a media release issued by the chamber.

FHRAI requests food safety regulator FSSAI to extend deadline for implementing new rules

  • The Federation of Hotel & Restaurant Associations of India (FHRAI) on Monday said it has made a representation to food safety regulator FSSAI to extend the deadline for mentioning FSSAI License number on bills given by food business operators.
  • The Food Safety and Standard Authority of India (FSSAI) has mandated Food Business Operators (FBOs) to mention FSSAI license or registration number on cash receipts or purchase invoice with effect from October 1 this year. FHRAI said that it is in favour of the FSSAI’s latest order.

Your Governor has not been charge sheeted. There is no such document. This is misinformation. I didn’t expect this from a senior politician. I have not taken stay from any Court in hawala charge sheet because there was none

– West Bengal Governor Jagdeep Dhankhar

More than 300 drone sightings post Aug, 2019 along Pakistan border: Agencies

  • Over 300 drones and unidentified flying objects have been sighted along the sensitive border with Pakistan post the 2019 abrogation of Article 370, central security agencies have said, even as they grapple to find a suitable technology to check these lethal sky-floaters.
  • A multitude of border security agencies have also been testing some indigenously-built counter-drone technologies in the rough jungle terrains, desert and marshes along the western front but have had little success till date, officials told PTI Monday.

Delhi Govt

Delhi Airport Customs has arrested two South African pax(s) for smuggling 18 kg white powder substance suspected to be Heroin (worth Rs 126 crores approx) concealed inside trolley bags. The two had arrived from Johannesburg via Doha on June 26.

Reports ANI

Goa CM, state BJP chief hail Centre’s tourism stimulus package

  • Goa Chief Minister Pramod Sawant and state BJP chief Sadanand Shet Tanavade on Monday welcomed Union Finance Minister Nirmala Sitharaman’s stimulus package for the tourism sector amid the COVID-19 outbreak.
  • The stimulus package includes five lakh free tourist visas, financial support to 11,000 registered tourist guides, travel and tourism stakeholders, providing working capital or personal loans to people in the tourism sector to discharge liabilities or restart businesses impacted due to Covid-19, among other benefits.

In Pics: Defence Minister Rajnath Singh inaugurates library at Thiksay Monastery in Ladakh

Foreign Secretary Shringla to address UNSC debate on children and armed conflict

  • Foreign Secretary Harsh Vardhan Shringla will address the United Nations Security Council (UNSC) high-level open debate on children and armed conflict on Monday evening through video conferencing.
  • According to the office of the Special Representative of the Secretary-General for Children and Armed Conflict, the open debate will consider the findings of the annual report of the Secretary-General on children and armed conflict.
  • It will also be an opportunity to focus on issues related to the implementation of the children and armed conflict agenda, including the mid-and long-term impact of the COVID-19 pandemic on the protection of children in conflict as well as the importance of a gender perspective in child protection, considering the specific risks faced by girls in armed conflict.

Handset PLI timeline extension: What experts say

  • “This extension would not only support the Government’s efforts to establish India as an integral part of the Global Value Chain (GVC) in the electronics sector, it will also support developing Indian Champion companies to tap the Global as well as Indian markets through the PLI,” Pankaj Mohindroo Chairman, India Cellular and Electronics Association (ICEA) said.
  • Sunil Vachani, executive chairman, Dixon Technologies called it a ‘timely’ announcement, “which not only serves the PLI companies but also boosts the confidence of many others who are keen on investing in the Indian manufacturing space,” said Sunil Vachani, executive chairman, Dixon Technologies.

Rupee ends flat at 74.19 per US dollar

The rupee inched up 1 paisa to settle at 74.19 against the US dollar on Monday amid firm crude oil prices and a lacklustre trend in domestic equities. At the interbank foreign exchange market, the rupee opened at 74.24 per dollar as against its previous close of 74.20. It hovered in a range of 74.18 to 74.27 during the day, before ending at 74.19 against the greenback.

PM has decided to release postal stamps in his (PV Narasimha Rao) memory in the presence of eminent people from Andhra Pradesh & Telangana

– MoS (Home) G Kishan Reddy

Punjab Congress leader Navjot Singh Sidhu to meet Rahul Gandhi in Delhi tomorrow.

Reports ANI

Handset PLI timeline extension: What expert says

“With this decision, the government will not only achieve all the objectives of industry building, job creation, and GDP growth, but the even bigger one is, that we have announced to the whole world that the government is there to support the industry. Now is the time for, “Make in India”,” said Hari Om Rai, chairman of Lava International.

The National Commission for Women today launched a project series – ‘Training Programme of Protection Officers in addressing Domestic Violence’ and their specific needs in responding to victims of domestic violence. Union Minister Smriti Irani also attended the inaugural session

SpiceJet plans to raise funds; shares gain over 2 pc

No-frills carrier SpiceJet plans to raise funds through issuance of equity shares or debt instruments and the proposal will be discussed at its board meeting on Wednesday. The proposal comes at a time when the airline industry is grappling with strong headwinds due to the coronavirus pandemic that has also resulted in less occupancy in many flights.

5.3 magnitude earthquake hits Bonin Islands, Japan

An earthquake with a magnitude of 5.3 jolted Bonin Islands, Japan, at 9.12 GMT on Monday, the US Geological Survey (USGS) said. The epicenter, with a depth of 16.16 km, was initially determined to be at 26.817 degrees north latitude and 142.9697 degrees east longitude.

I have written three letters for removal of West Bengal Governor. He is a corrupt man, his name was in the chargesheet of hawala jain case in 1996

– West Bengal CM Mamata Banerjee

Full breakup of economic relief measures announced today

We are assuming that there are people who are willing to travel…the free travel visa scheme will have an effect: Debashis Panda, secretary DFS

These measures to ensure money to come into the hands of small and medium enterprises

– Debasish Panda, secretary, DFS

Finance Minister Nirmala Sitharman’s stimulus package for economy totals Rs 6.29 lakh cr.

Snapshot of schemes announced today

Snapshot of schemes announced today

Govt to streamline process for PPP projects and asset monetisation: FM

The aim is to ensure speedy clearance of projects to facilitate private sector’s efficiencies in financing construction and management of infrastructure: Finance Ministry

Details of Power Distribution Scheme

Details of Power Distribution Scheme

FinMin announces Rs 3.03 lakh cr reform plan to charge up discoms

Govt announces new package to bring broadband to all villages

Govt announces new package to bring broadband to all villages

FM announces extension of production-linked incentives for large-scale electronics manufacturing by one year till 2025-26

Digital India gets Rs 19,041 cr support

Details of new package to boost exports

Details of new package to boost exports

Govt proposes to infuse equity in ECGC over 5 years to boost export insurance cover by Rs 88,000cr

To boost exports, govt announces Rs 33,000 cr package for exports through NEIA

Govt announces Rs 77.45 cr package for NERAMAC

India’s fight against malnutrition & to improve farmers’ income

Free foodgrain to poor till Nov 2021 to take total cost of Pradhan Mantri Gareeb Kalyan Anna Yojana to Rs 2.27 lakh cr: FM

Additional support to increase ICU beds, oxygen supply

Additional support to increase ICU beds, oxygen supply

Govt announces extension in PMGKAY which was launched last year for poor



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LOLC’s future holding company of financial companies to raise Rs. 1b via listed debt https://savewesternoh.org/lolcs-future-holding-company-of-financial-companies-to-raise-rs-1b-via-listed-debt/ https://savewesternoh.org/lolcs-future-holding-company-of-financial-companies-to-raise-rs-1b-via-listed-debt/#respond Sun, 26 Sep 2021 22:33:00 +0000 https://savewesternoh.org/lolcs-future-holding-company-of-financial-companies-to-raise-rs-1b-via-listed-debt/ LOLC Ceylon Holdings Ltd. (LOCH) will issue 10 million debentures of Rs. 100 each to increase Rs. 1 billion. The debentures offer 9.50% per annum payable annually. The minimum subscription is Rs. 10,000. The managers of the issue are Capital Alliance Partners Ltd. Depending on the allocation basis, the number of debentures to be allocated […]]]>

LOLC Ceylon Holdings Ltd. (LOCH) will issue 10 million debentures of Rs. 100 each to increase Rs. 1 billion.

The debentures offer 9.50% per annum payable annually. The minimum subscription is Rs. 10,000. The managers of the issue are Capital Alliance Partners Ltd.

Depending on the allocation basis, the number of debentures to be allocated to one or more identified institutional investors of strategic and operational importance, preferentially or not, will not exceed 75% of the total number of debentures to be issued.

LOLC Holdings PLC (LOLC) has provided collateral up to Rs. 1.19 billion being the principal and two interest payments. LOLC owns a 55.54% stake in LOCH and the related party Commercial Leasing and Finance PLC owns 44.34%, making it a total control of 99.89%.

As part of the LOLC group’s overall strategy to attract investors to the large financial companies it has created, LOLC creates a platform allowing potential investors to acquire a minority stake in the financial companies it owns. LOLC believes that these large-scale foreign investors have the ability to help financial companies grow even further and provide even better service to clients by introducing the latest technology, technical know-how and employee training.

To this end, LOLC Holdings has appointed a wholly-owned subsidiary, LOLC Ceylon Holdings, to function as a platform and plans to list LOCH on the Colombo Stock Exchange. After LOCH listing, the shares held by LOLC in LOLC Finance PLC (LOFC) amounting to 44.79%, the shares held in Commercial Leasing and Finance PLC (CLC) amounting to 98.92% and the shares 55.55% held in LOLC Development Finance PLC (NIFL) are to be transferred to LOCH.

LOLC has stated that the Company Takeover and Mergers Code of 1995 (as amended) will not apply to the transfer of shares by LOLC to LOCH from LOLC shares in LOFC, CLC and NIFL.

The proceeds of an equity injection by the parent company, LOLC Holdings, will be used to purchase the shares of LOFC and CLC, subject to receipt of the relevant regulatory approvals (if any). SEC approval in principle and Central Bank no objection have been obtained for the transfers of LOLC shares.

The transfer of shares will take place as soon as LOCH becomes a listed entity.

An estimated time frame could be two weeks from the date on which LOCH becomes a listing entity, as all the regulatory approvals in principle required have been obtained. As this is an internal restructuring of the group, the transaction will be executed at market prices in effect on the date of the transfer, as an off-the-floor transaction.

The funds raised by the bond issue will be used to partially finance the acquisition of LOLC Holding’s stake in LOLC Development Finance (NIFL) within one month of the grant date. As of the date of the prospectus, LOLC Holdings PLC holds a 55.55% stake in NIFL.

The purchase price for the transfer of NIFL shares would be the last market price for NIFL shares in accordance with the requirements of the SEC in its approval in principle. The share transfer will be executed at the last traded price at the time of the share transfer.

Subject to receipt of relevant regulatory approvals, the amount of the purchase consideration balance at the time of acquisition is to be funded by LOLC Holdings through an equity injection into LOCH. The purchase price of the transaction will be the market price prevailing at the time of purchase of the shares.

During the interim period (date from fundraising until deployment through the purchase of NIFL shares), the company would choose to invest the debenture proceeds in government securities without risk of default until that the funds are fully utilized. Investment in government securities is expected to generate a return of 5% per annum at current rates.

In addition, LOCH has applied for SEC and Central Bank approval for the restructuring exercise or transfer of ownership from LOLC Development Finance PLC to LOLC Ceylon Holdings and SEC approval in principle and no objections. from the Central Bank was obtained to complete the restructuring provided. LOCH becomes a listed entity.

In the event that the Company does not use the funds for the stated purpose of issuing Debentures and proposes to use them for another purpose such a change will only be made after the Company announces it and received the necessary approvals from the authorities / parties concerned. The company also noted that LOLC Holdings is LOCH’s parent company.

However, if this product is used for a related party transaction, this will be done in accordance with Section 9 of the CSE Registration Rules.

LOCH will own 55.55% of the shares of NIFL after the equity injection. The acquisition of this stake will be partly financed by the proceeds of the bond issue and the remainder will be financed by the parent company, LOLC Holdings, via an equity injection.

The percentage of shares LOCH is to hold in NIFL after full use of the IPO debt cannot be determined at this time, as the purchase price for the transfer of NIFL shares would be executed at the last price. of the negotiated market at the time of the transfer of shares. The transfer of shares is expected to be completed within two weeks of the date on which LOCH becomes a listing entity.


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CBE and FRA sign agreement to facilitate payment for consumer credit companies https://savewesternoh.org/cbe-and-fra-sign-agreement-to-facilitate-payment-for-consumer-credit-companies-2/ https://savewesternoh.org/cbe-and-fra-sign-agreement-to-facilitate-payment-for-consumer-credit-companies-2/#respond Wed, 22 Sep 2021 10:31:14 +0000 https://savewesternoh.org/cbe-and-fra-sign-agreement-to-facilitate-payment-for-consumer-credit-companies-2/ ArabicFinance: The Central Bank of Egypt (CBE) and the Financial Regulatory Authority (FRA) signed a Memorandum of Cooperation to facilitate the issuance of licenses and approvals for payment instruments for consumer credit or other payment methods approved by the CBE, according to a recent press release. The agreement was signed by Ramy Aboul Naga, vice-governor […]]]>

ArabicFinance: The Central Bank of Egypt (CBE) and the Financial Regulatory Authority (FRA) signed a Memorandum of Cooperation to facilitate the issuance of licenses and approvals for payment instruments for consumer credit or other payment methods approved by the CBE, according to a recent press release.

The agreement was signed by Ramy Aboul Naga, vice-governor of the CBE, and Islam Azzam, vice-president of the FRA.

The agreement is part of the strategy of the National Payments Council headed by President Abdel Fattah el-Sisi, and the implementation of the Egyptian government’s strategy to develop and automate such procedures to facilitate ‘citizens’ access to various financial services.

The purpose of the newly signed protocol is to put in place a mechanism to facilitate the executive procedures for obtaining the necessary licenses and approvals from the EPC.

The three-year protocol benefits all consumer credit companies that issue electronic payment tools to customers, as they will be licensed on the basis of a joint coordination between CBE and FRA, where companies will be able to use payment cards to shell out consumer value. loan to citizens electronically. This will have a positive impact on the ease of service to citizens and traders doing business with this type of business.

Copyright © 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).


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New protocol to facilitate the issuance of payment instruments for consumer credit companies https://savewesternoh.org/new-protocol-to-facilitate-the-issuance-of-payment-instruments-for-consumer-credit-companies/ https://savewesternoh.org/new-protocol-to-facilitate-the-issuance-of-payment-instruments-for-consumer-credit-companies/#respond Mon, 20 Sep 2021 21:07:26 +0000 https://savewesternoh.org/new-protocol-to-facilitate-the-issuance-of-payment-instruments-for-consumer-credit-companies/ The Central Bank of Egypt (CBE) has signed a Memorandum of Cooperation with the Financial Regulatory Authority (FRA) to facilitate the issuance of licenses and approvals for payment instruments for consumer credit or other payment methods approved by the EPC. This is part of the strategy of the National Payments Council headed by President Abdel […]]]>

The Central Bank of Egypt (CBE) has signed a Memorandum of Cooperation with the Financial Regulatory Authority (FRA) to facilitate the issuance of licenses and approvals for payment instruments for consumer credit or other payment methods approved by the EPC.

This is part of the strategy of the National Payments Council headed by President Abdel Fattah Al-Sisi, and the implementation of the Egyptian government’s strategy to develop and automate such procedures to facilitate access. citizens to various financial services.

The cooperation protocol was signed by Ramy Aboul Naga, deputy governor of the CBE, and Islam Azzam, vice-president of the FRA.

The agreement aims to establish a mechanism to facilitate the executive procedures for obtaining the necessary licenses and approvals from the EPC, which are established under the provisions of the law regulating the activity of consumer finance published. by Law No.18 of 2020, with regard to commercial payment cards or other means of payment approved by the Central Bank.

This protocol benefits all consumer credit companies that issue electronic payment tools to customers, as they will be licensed on the basis of joint coordination between the Central Bank of Egypt and the Financial Regulatory Authority, where businesses will be able to use payment cards to disburse the value of consumer loan to citizens electronically, which will positively impact the ease of service provision to citizens and merchants doing business with this type of business.

The 3-year protocol is part of the government’s guidelines for transforming itself into a society less dependent on banknotes by offering electronic payment and strengthening financial inclusion.




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Compare the 5 best payday loan and finance companies of 2021 https://savewesternoh.org/compare-the-5-best-payday-loan-and-finance-companies-of-2021/ https://savewesternoh.org/compare-the-5-best-payday-loan-and-finance-companies-of-2021/#respond Fri, 17 Sep 2021 07:00:00 +0000 https://savewesternoh.org/compare-the-5-best-payday-loan-and-finance-companies-of-2021/ What is a salary advance? What is salary funding? A payday advance is a new concept that is becoming more and more popular in 2021. The idea is that an employee can withdraw money from their monthly paycheck and receive it instantly instead of having to wait for the payment. end of the month. Often […]]]>

What is a salary advance? What is salary funding?

A payday advance is a new concept that is becoming more and more popular in 2021. The idea is that an employee can withdraw money from their monthly paycheck and receive it instantly instead of having to wait for the payment. end of the month. Often using simple mobile apps, employees can decide to withdraw as much as they want from their monthly salary without affecting the employer.

Payday loan companies are quickly replacing standard payday loans because employees are not subject to a credit check and are not subject to interest or debt when using payday loan companies. .

For employees who run into unforeseen spending issues during the month, payday advance software and businesses give them the ability to ease some financial pressure without it turning into high debt. A payday advance simply allows the employee to access the money he has already earned without receiving all of it at the end of the month.

Why Should I Use a Payday Advance Company?

Using a payday advance company has advantages for both the employee and the employer. For the employee, the benefits are clear; employees can access the money they earned earlier than before without having to pay back and take on more and more debt. It’s cheaper than the alternatives and the employees don’t go through credit checks.

For the employer, it makes your business more attractive to employees; this is a great benefit to your business and will help improve your hiring process as well as reduce turnover. Most importantly, offering your employees a pay advance will increase their happiness and put less financial strain on them. This, in turn, could cause employees to become more productive when they don’t care about money all day long.

How Do Payday Advance Companies Work?

As this is still a relatively new concept, payday advance companies differ in the way they operate. Some companies will charge the employer for using their services, and most will charge a fee for the employee when they withdraw money from their wages early. Some companies even offer employee loans at a much lower rate than a normal financial loan.

Once the employer has registered with one of these companies, employees will be able to download an app that will show them how much they have earned and how much they can withdraw. Employers are able to decide how much of an employee’s earned salary they can withdraw with many withdrawals capped at 50% of the money earned.

Payroll companies are becoming more and more popular and for this reason TechRound has found the 5 best payroll companies that you should use whether you are an employer or an employee:

Top 5 payday advance companies:

  1. salary
  2. Haste
  3. Revolution
  4. Financing of salaries
  5. Neyber

1: Salary

Wagestream is currently the most popular payday advance company in use in the UK. With companies such as Bupa, Cafe Rouge and others using Wagestream to give their employees the opportunity to access their pay earlier. Wagestream has an easy to use mobile app that allows employees to track their pay if they wish. Wagestream also offers its users financial education services, including tips for saving money and decoding their payslip.

Employees can access 50% of their monthly salary early and are only charged £ 1.75 up front. Wagestream is currently the most successful payday advance company.

2: Hurry

Hastee Pay only processes payday advances and in fact gives the employee free access up to £ 100 per month. Employers will give their employees an invite code to download the app, after which they will be able to see how much they can borrow, employers can set a maximum withdrawal amount but Hastee has no limit on this.

Some NHS trusts use Hastee, but Hastee charges employees 2.5% of all money taken as an advance on employee wages. This can make Hastee one of the more expensive options for a payday advance business.

3: Financing of salaries

Salary Finance does more than just payday advances, but also offers a great payday advance program. Although Salary Finance does not have a mobile app, you can log into your account on the website to track what you earn and what you can borrow in real time. There they have guides and advice on everything monetary with savings assistance as well as recommendations from insurance providers.

Employees are limited to 3 withdrawals per month and Salary Finance charges £ 1.49 per advance withdrawn. Many reputable brands and companies use Salary Finance and it is a great option as a Salary Advance business.

4: Revolut Payday

Revolut_Black_logo

Fintech company Revolut is the latest company to get involved in payday advances by launching Revolut Payday. Revolut Payday tracks your wages in real time so you can check on your mobile app right after a shift to see how much you’ve earned. With Payday you will be able to withdraw up to 50% of what you have earned at any time and the employee will be charged £ 1.50 per transaction.

Revolut is a reliable company and its foray into the payroll advance market shows that it truly is a booming industry. Although extremely new, Revolut Payday allows employees to avoid using their credit cards or payday loans when they have financial worries.

5: Neyber

Neyber is slightly different from the other payday advance companies on this list, as Neyber has yet to make the full transition to payday advances. This means that when you take part of your salary earlier with Neyber, you technically still get a loan. Employees do not owe money to their employer but to the company, which means that credit scores are affected and interest rates may be charged.

However, since the borrowed money comes directly from your paycheck, Neyber is able to offer incredible rates on loans, much better than the average payday loan company. Repayments are made automatically and although more complicated, Neyber remains a better option financially for employees and employers than other loan alternatives.

Are there any issues with using payday advance companies?

Although payday advance companies are increasingly used and popular, some employees may still experience issues while using payday advance features.

For example, all payday advance companies will allow your employer to see how you have used it and track your entries and exits while using the app. Some employees may not understand that their finances can be viewed without their discretion.

In addition, employees cannot use the Advance on Salary companies if their own company has not subscribed to them. Many companies still have not started using payday advances and as a result employees cannot access their salary early. If you are an employee and want this in your business, talk to your HR and see if it’s viable!

Will using my payday advance affect my credit?

No! The great thing about payday advances is that there is no interest and taking money from your payday has no effect on your credit score. You can withdraw money at any time, according to the regulations of the Salary Advance company, and use it for whatever you want!

However, using payday advances will not help if you have other debt and payday advances should be used wisely and responsibly.


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Icra Ratings, Real Estate News, ET RealEstate https://savewesternoh.org/icra-ratings-real-estate-news-et-realestate/ https://savewesternoh.org/icra-ratings-real-estate-news-et-realestate/#respond Tue, 14 Sep 2021 07:00:00 +0000 https://savewesternoh.org/icra-ratings-real-estate-news-et-realestate/ MUMBAI: Assets under management of the non-bank financial corporations segment declined in the first quarter of 2021-2022 due to lower disbursements and shrinking portfolio, according to a report. After rising slightly in the third and fourth quarters of FY2021, disbursements for NBFCs and housing finance companies (HFCs) declined again in the first quarter of FY22, […]]]>
MUMBAI: Assets under management of the non-bank financial corporations segment declined in the first quarter of 2021-2022 due to lower disbursements and shrinking portfolio, according to a report.

After rising slightly in the third and fourth quarters of FY2021, disbursements for NBFCs and housing finance companies (HFCs) declined again in the first quarter of FY22, and declined by about 55% on a sequential basis, Icra Ratings said in the report.

“Given these moderate disbursements and the reduction of the portfolio in the absence of any moratorium as in the first quarter of fiscal 2021, the (AUM) of the NBFC segment decreased in the first quarter of fiscal 2022, while HFC AUMs remained stable, ”the agency said.

While sector disbursements picked up quite sharply in July 2021 due to pent-up demand, their sustainability would depend on broader macroeconomic indicators, he added.

According to the agency’s vice president and sector head (financial sector ratings) Manushree Saggar, the second wave temporarily delayed the recovery of the sector.

Icra expects aggregate disbursements for FY2022 to be around 6-8% year-over-year higher, following two consecutive years of year-on-year contraction. the other, she said.

“From an assets under management perspective, the sector is expected to grow 8-10% in fiscal 2022. Growth would be driven by improved demand from all key target segments compared to fiscal year 2021, based on a low base, ”Saggar said.

The quality of assets of non-bank entities weakened quite sharply in the first quarter of fiscal 2022 due to localized lockdowns imposed by various states due to the second wave of COVID-19 infections, which had an impact on the process of collecting these entities, the agency said.

Asset quality figures are expected to moderate as the trend in collection efficiencies (CE) continues to remain encouraging, he added.

The agency maintains its expectation of a 50-100 basis point (bps) increase (net of collections and write-offs) in delinquencies in fiscal year 2022, assuming there are no more lock-ups induced by COVID-19.

As pressures on asset quality persist, the increase in overall provisions, which is currently 1.7 times pre-COVID (December-19) levels, is providing some comfort. This would give entities some leeway. sufficient maneuver to technically amortize and clean up their balance sheets, ”said Saggar.

Depreciation in the NBFC sector remained high in the first quarter of fiscal 2022, she noted.

Given the uncertainties in the operating environment, depreciation is expected to remain high in FY 2022 – similar to last fiscal year (around 2.4% of assets under management for NBFCs and 0.3% for HFCs ), she said.

NBFC credit costs rose sharply in the first quarter of fiscal 2022, with depreciation remaining high and provisions increasing due to rising delinquencies, the agency said.

While HFC’s NPA / Stage 3 also increased during the period, credit costs moderated compared to Q4 FY2021 as provisions did not increase significantly like NBFCs and depreciation was negligible.

As a result, net profits plunged during the quarter to their lowest level in the recent past.

Saggar said that assuming there are no further bottlenecks, NBFC earnings performance is expected to improve in subsequent quarters, as credit costs moderate as delinquencies reduce relative to at June 2021 levels.


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Markets close on a flat note; Housing finance companies outperformed https://savewesternoh.org/markets-close-on-a-flat-note-housing-finance-companies-outperformed/ https://savewesternoh.org/markets-close-on-a-flat-note-housing-finance-companies-outperformed/#respond Tue, 07 Sep 2021 07:00:00 +0000 https://savewesternoh.org/markets-close-on-a-flat-note-housing-finance-companies-outperformed/ Markets experienced a volatile trading day on Tuesday as the pendulum swings were felt. Bank Nifty slightly underperformed the Nifty Index by around 0.25%, with both indices posting profits, closing down around 0.15% / 0.35%. Housing finance stocks were among the top performers with stocks like HDFC Ltd and LIC Hsg Fin adding new long […]]]>

Markets experienced a volatile trading day on Tuesday as the pendulum swings were felt.

Bank Nifty slightly underperformed the Nifty Index by around 0.25%, with both indices posting profits, closing down around 0.15% / 0.35%.

Housing finance stocks were among the top performers with stocks like HDFC Ltd and LIC Hsg Fin adding new long positions throughout the trading session.

The Nifty Midcap 100 index closed down ~ 0.3%.

The market size ended in favor of the bears, with the lead / bear ratio closing at 1: 2x. Nifty saw an unwinding of long positions during the day.

On the options front (expiring September 30, 2021), a general write-off was seen in call option strikes as the Nifty index trended downward.

The India Vix index closed at 14.8, down around 2%.

Top 2 F&O winners: IDEA & IRCTC
Top 2 F&O Losers: DLF & NALCO
owl -22 @ 17,356
Smart bank -135 @ 36,458


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Captive financial firms are the key to customer access, profitability https://savewesternoh.org/captive-financial-firms-are-the-key-to-customer-access-profitability/ https://savewesternoh.org/captive-financial-firms-are-the-key-to-customer-access-profitability/#respond Mon, 06 Sep 2021 04:00:01 +0000 https://savewesternoh.org/captive-financial-firms-are-the-key-to-customer-access-profitability/ At the effect of the captiveaccounting change of es, and the last on consumer credit Earlier this year, the captives implemented a significant accounting change. And I don’t want to be bored [you] with the details, but the basic goal was to assume that losses on leases would occur in advance rather than at some […]]]>

At the effect of the captiveaccounting change of es, and the last on consumer credit

Earlier this year, the captives implemented a significant accounting change. And I don’t want to be bored [you] with the details, but the basic goal was to assume that losses on leases would occur in advance rather than at some point. And that increased the reserves of Ford Motor Credit and GM Financial at the start of the year. And now, with high recovery rates and robust consumer credit quality, automobiles have been able to reassess what the assumed total losses might look like. And essentially, they’re getting back that profit potential that was taken away from them at the start of the year and is coming back.

Now, when we talk about consumer credit and the state of the consumer, they are the ones leading the charge in the market. And you can see it through the GDP data with double-digit growth in goods and services in July. I’m sure it would have been higher too if there had been more vehicles available.

But I think what that means for Ford Motor Credit and GM Financial, they were able to record over half a billion in second quarter pre-tax profits thanks to lower expected credit losses. I would expect this trend to ease a bit in the second half. And that’s because there were government programs that were given at the height of the pandemic that are passing. And so you will see credit increase a bit in terms of losses, but should still be positive year over year for finance companies.

At if a Subaru-Toyota Financial marriage makes sense

I think Subaru is an interesting element, especially because about 20 percent of Subaru’s business is rental business. So having access to very low cost financing – and Toyota has the cheapest financing in the global auto industry – is a mechanism they could use to further increase their bottom line and certainly share that with their partner Subaru.

Yes Stellantis and Tesla could also be targets for Toyota Financial

I think with Stellantis… now that they’ve combined and the merger seems to be going pretty well, they should really think about their own captive finance company. Obviously, they have an interest in one. But having captive global funding to really tackle the Ram and Jeep business, I think, would be a really good competitive move on their part, especially when you think about Ford and what they do, tackle the business customer in a more significant way. In my opinion, being able to offer the Ram customer the same type of product would be a wise move from a competitive point of view.

Tesla, as we know, is vertically integrated. They do it all themselves, and as their credit quality improves – and I think they’ll eventually go investment grade, maybe in the next 24 months – it’ll open the doors for them to have also a fully-fledged financial company.

At if Stellantis could extend its European captive in North America

I don’t want to pretend I’m a regulatory analyst, but what I would tell you is that this is something the old Fiat Chrysler talked about before the merger as one of their goals. And that was one of the reasons they wanted to be investment grade, was to have access to low cost financing for it. I think they understood the value of having a full captive, both from the strategic point of view that we talked about, as well as the financial benefits of having one. I guess that will be something they will look at, especially as their consolidation continues. And if the merger goes well, it will free up time for them to do it. I guess that would happen in the years to come.

The tThe obstacles Tesla would face in starting his own finance company

Departure [a captive lender] starting from scratch is difficult. And that’s why GM bought it back after selling GMAC. Maybe this is something they would consider as part of an acquisition. And the same goes for Stellantis too. It does not necessarily have to be an organically grown business. It could be something that could be acquired. Because really being able to put together the kind of talent and tech infrastructure you need would take a lot of time and for something like that it might be cheaper to run such an event through an acquisition than it does. an organically developed business.

At how GM Financial grew and strengthened

They have done a really good job over the past five years in reducing risk on an asset basis. If you look at their portfolio of personal loans in 2016, maybe 40% of it was subprime, which obviously exposes the company to operating losses during a downturn. They’ve reduced it to about 19 percent now and it’s still going down. They managed the risks there very well.

Yes a lack of a floor plan is a concern for automakers and captives

If anything, I would say it’s probably a net benefit to the dealer because the dealer has less capital tied up right now, both in inventory and I guess the other side of the balance sheet would be on the planning they have with their manufacturing partner. I think the question for the entire auto industry, and this is a major problem, is going to be, what is the right amount of inventory for the dealership? Because clearly, as the supply starts to ease, we’ve seen how powerful prices can be right now. If you replenish them at the same levels as in the past, it will again bring back big discounts and reduce your total profitability. I’m sure they’re all working on their algorithms to try and figure out what’s the right amount of inventory to make sure you’re giving the customer what they want when they want it and in the style they want. wants . But at the same time, don’t overstock resellers, and that way they can somehow maximize total profitability. This will help the entire food chain of automobiles and auto suppliers and dealers over time. But who knows in such a fragmented market if everyone will play well or if someone will go for market share. It has certainly happened in the automotive world.


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Tech and Financial Firms Consider Wynwood as Miami Raises Tech Hub Status https://savewesternoh.org/tech-and-financial-firms-consider-wynwood-as-miami-raises-tech-hub-status/ https://savewesternoh.org/tech-and-financial-firms-consider-wynwood-as-miami-raises-tech-hub-status/#respond Mon, 23 Aug 2021 07:00:00 +0000 https://savewesternoh.org/tech-and-financial-firms-consider-wynwood-as-miami-raises-tech-hub-status/ Miami’s Wynwood Art District is known for its street art and as a hub for creatives, but with more tech and financial companies finding offices there, recent transactions have positioned the neighborhood as the point central to the city’s growing status as a technological hub. That’s according to DWNTWN Realty Advisors senior directors Tony Arellano […]]]>

Miami’s Wynwood Art District is known for its street art and as a hub for creatives, but with more tech and financial companies finding offices there, recent transactions have positioned the neighborhood as the point central to the city’s growing status as a technological hub.

That’s according to DWNTWN Realty Advisors senior directors Tony Arellano and Devlin Marinoff, who have more than $ 100 million in transactions pending at Wynwood. DWNTWN Realty Advisors is a commercial real estate brokerage company in Miami. The company claims to have been involved in more than $ 350 million in development investment and sales at Wynwood in recent years.

Managing Director and Co-Founder of DWNTWN Realty Advisor Devlin Marinoff. Courtesy photo

Wynwood is “without question the hottest submarket in the country,” Marinoff said.

Due to a changing population and businesses keen to attract a better talent pool, Wynwood has emerged as the next hot submarket amid the pandemic, Marinoff said. For tech and financial companies, Wynwood’s ability to walk in relation to other neighborhoods and culture is what draws them to the area.

“It has the newest, most creative office product that some of these companies are looking to attract, and a certain type of worker appreciates it. Your neighborhood cafe, your bustling restaurant scene, the happy hour scene – it kind of hits all cylinders when it comes to ambiance and amenities, ”Arellano said.

Big companies like Live Nation, Spotify and Atomic now have offices in Wynwood. Arellano said that when Founders Fund, a venture capital firm led by PayPal founder Peter Thiel, moved its offices to Wynwood, others began to follow suit.

Tony Arellano, Managing Director and Co-Founder of DWNTWN Realty Advisor in Miami.  Courtesy photo Tony Arellano, Managing Director and Co-Founder of DWNTWN Realty Advisor in Miami. Courtesy photo.

“It sends an important message to the tech community. Wynwood, and Miami in general, are now described as the “capital of the capital” and once Founders Fund signed on, it was as if the market decided where it wanted to locate. It was the most important thing: to sell a market that had no fundamentals for companies at that level, at that time. Now that it’s been accepted we’ve now passed the test, and it’s kind of built into our fabric, ”said Arellano.

While they can’t yet announce upcoming companies, Arellano and Marinoff have said that in six to eight months, Wynwood will be a game-changer.

“The pandemic has sped up people’s thinking about where they want to live and companies have realized that they don’t have to be in financial places to run a business at a very high level. By giving their employees a better city to live in, they could get better talent and maybe even lower their occupancy costs, ”said Arellano.

Many tech and financial companies come from the Northeast and California. The number of non-market businesses is increasing by around 10%, Arellano said, but the majority of businesses coming to Wynwood are local businesses that have decided to relocate. Arellano believes the neighborhood will experience long-term growth as a result.

“Wynwood is always a neighborhood of little magnets – where a project is developed and then an entire block lights up,” Arellano said.

From law firms to retail businesses moving away from malls, Wynwood is a solid investment for businesses in all industries, Arellano and Marinoff said.

“Leasing is very solid. He hits all the cylinders. It is currently the best investment in any submarket in the country. Hands down, ”Marinoff said.

Read more:

South Florida tech scene is ‘here to stay’ as Uber joins group of companies that acquire office space

After pandemic-fueled exodus in 2020, people are returning to urban apartments

Surfside changed everything: sea level rise in the spotlight after fatal condo collapse


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