MUDRA is the acronym for Micro Units Development and Refinance Agency. The expanded form of MUDRA itself enough to define what is MUDRA ie., MUDRA aims and functioning to develop and refinance Micro entrepreneur units in India. More precisely, beneficiaries of MUDRA are to be one of Manufacturing (Non-farm enterprises), Trading, and Services. This agency, MUDRA is heavily supported by India Govt., and its liberalized financial services routed through or implemented by various Commercial Banks, Regional Rural Banks (RRB), Small Finance Banks, Micro Finance Institutions (MFI) and Non Banking Financial Company (NBFC) functioning across the country.
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The Lok Sabha (House of the People) was duly constituted for the first time on 17 April, 1952 after the first General Elections held from 25 October, 1951 to 21 February, 1952. The first Session of the First Lok Sabha commenced on 13 May, 1952. The Lok Sabha is composed of representatives of the people chosen by direct election on the basis of adult suffrage. Hence it is called the Popular Chamber. The quorum to constitute a sitting of the House is one-tenth of the total number of Members of the House under article 100(3) of the Constitution.
As we all know, one of the main function of Commercial Bank is giving loans and advances to their customers, in which a major share goes as Home Loan product that comes under Personal Banking. Home Loan is considered as a secured, low risk loan to all banks because it compulsorily requires collateral or immovable assets as a security to loan amount. Here is the comprehensive list of documentation for Home Loan takers. Check this Home Loan Document List and keep this listed documents ready with you prior obtaining your loan. This Home Loan Document List is applicable not only to SBI but all other banks seeks more or less same documentation.
SBI Gramin Bhandaran Yojana Capital Investment Subsidy Scheme For Construction or Renovation Of Rural Godowns is designed to create scientific storage capacity in the rural areas to meet the requirements of farmers for storing farm produce. To prevent distress sale of produce by farmers immediately after harvest by promoting pledge financing and marketing credit.
Although State Bank Of India (SBI) has implemented a rural housing scheme (Golden Jubilee Rural Housing Finance Scheme of RBI (GJRHFS)) under personal segment, bank has not been able to comprehensively cater to the needs of the farming community and poorest of the poor for Home Loans in view of the peculiarity of the ownership title in rural areas, social habits, type of construction and other related needs not being fully covered under GJRHFS.
A majority of Agricultural loans operate within 18 months of repayment period which commonly known as Seasonal Agricultural Operations (SAO). Farmers seeking loans facilitating "long term loans" with repayment period of upto 15 years may give immense opportunities to invest in diversified fields like Dairy Farm, Farm Mechanisation, Minor Irrigation, Lift Irrigation, Horticulture, Land Developments, Sheep / Goat / Piggery / Poultry Farm, Inland fisheries, Sericulture, Rural Godowns, Farm Plantations / Forestry Plantations and other activities. Agricultural Term Loans (ATL) fulfil the whole requirement through various banking institutions under strict regulation of RBI / NABARD.
Boric acid is a very weak acid with the formula H3BO3. Boric acid aka boracic acid or arthoboric acid frequently used as a mild antiseptic in the medical field. As a chemical compound, Boric acid acts as a tribasic acid. However, because it dissociates to such a small extent, it is a very weak acid that is actually used in water solution as an eye wash. Pure boric acid is a colorless, odorless, white powder or transparent crystals with a slightly oily feeling that slowly decomposes with heat at about 340°F (171°C).
SBI Krishak Uthan Yojna to provide easy access to short term production and consumption credit to meet genuine requirements of tenant farmers, share croppers and oral lessee having no recorded land records or written document. Landless labourers, share croppers, tenant farmers, oral lessees, (also covering oral tenants & small farmers) having no recorded land records are eligible for SBI Krishak Uthan Yojna if the sanctioning authority is sanguine of the applicant carrying on the activity, subject to production of an Affidavit for cultivation of crops. Permanent resident proof of at least 2 yrs.
Operations of deposit accounts varies types of customers mainly individual customers and business customers. Accounts of individuals comprise a majority of the deposit accounts in Personal segment of most banks. Any individual who is a major and of sound mind can open a - Savings account and / or Fixed deposit accounts.
SBI has two bank loan schemes for Dairy related agricultural projects. The first one named -SBI Scheme For Dairy Societies- aims to provide finance for creating infrastructure like Construction of Milk house or Society office, Purchase of Automatic milk collection system, transport vehicles, Bulk chilling unit; and the second named SBI Dairy Plus Agriculture loan scheme to finance milk producing members of AMUL pattern societies recognized private milk dairies posting profit in the past two years.
One of the primary function of a commercial bank is accepting deposits from public and in return, bank will give interest earnings for the deposited money to the account holder depending on the type of deposit accounts. It is a three part article, which will look into various aspects of deposit accounts, its operations, and types of deposit accounts, offered our commercial banks in India. Opening aspects and KYC is the first part that everybody should know before they get into the bank for having relationship with bank and their deposit accounts.
When you think about banking, the first preference goes to Nationalized Public Sector Commercial Banks like SBI, Canera Bank, Bank of Baroda etc. Why do people give higher privilege to Nationalized banks? The basic answer is very simple - India Govt. has a good control over Nationalized Commercial Banks. They are forced to follow the instructions issued by Central Govt. and RBI. They are dominating over 90% of the banking sector in India that plays big economic role of India's development.
Deposits of banks are broadly classified into three categories: Demand deposit, Term deposits and Flexi deposit or also known as Hybrid deposit.
1. Demand Deposits Account
Demand deposits are repayable on demand by the customers. Current account deposits, Savings bank deposits and Call deposits are the examples of demand deposits. These deposits are repayable on demand by the customers. The amount deposited on these accounts to be released upon the request of customer without any delay.
SBI SME Auto loan allows Small and Medium Entrepreneurs (SME) for buying new and old vehicles such as auto-rickshaw, car, jeep, MUV of any model. Old vehicles should not be older than 4 years and be passed by the bank's assessment. This Term loan scheme also known as "Finance for Road Transport Operators - FRTO".
Every financial dealings involve risk and there is no exemption in lending money to public. Bank calculates their risk factor in each and every loan products hence making ways to subdue collecting authenticated documents from its loan customers. Here we can find what are the documents usually banks ask to a loan customer. Please note that the list is only indicative and not exhaustive, and depending upon the local requirements at different places addition could be made as per necessity.
SBI Housing Loan becomes the most demanding home loan across the banking sector in India and you will never regret if you have taken housing loan from State Bank Of India. Other banks have very attractive offers for housing loan, once you have availed one of those home loans, there will be a day that you realize "I could have at least gone through the details of SBI housing loan". There is a saying among the home loan takers "Upto loan sanctioning, other banks are good; after sanctioning, SBI is good".
Before opening a corporate / business account (Current Account) with SBI, bank will request you to submit your KYC (Know Your Customer) documentation. It's the first step bank can do to prevent Money Laundering or meeting statutory requirement, a corporate entity should follow. Here is the comprehensive document list that various type of account should submit in order to start and function seamlessly a current account facilitate.