DAILY G.A UPDATE : 12-08-2016
1. Axis, Suvidhaa tie-up for collateral-free loans to urban poor
Private sector Axis Bank launched a micro-lending product to disburse unsecured loans of up to Rs 15,000 to the urban low income segment using payments company Suvidhaa Inforserve's customer database.
"This is the first-of-its-kind offering which will give collateral-free loans of up to Rs 15,000 within two hours to deserving individuals based on their cash flow history," Axis Bank Executive Director Rajiv Anand said.
Suvidhaa, which is into remittances, bill payments and rail bookings among others, has over the past nine years accumulated data on transactions of its 35 million customers which will be used by the bank to disburse the loans even if credit information companies are unable to provide data.
Apart from term loan, the bank has also included an overdraft facility under the product to enable small traders and hawkers, who are in need for short-term liquidity, to avail credits and if they pay the same day, will be interest-free as well, the private lender said.
A customer can walk into any of the over 22,000 outlets from where Suvidhaa serves Axis Bank as a business correspondent to avail the loan.
2. Hanif Mohammad, Pakistani Cricket's Little Master, Dies at 81
Pakistan's legendary former captain and batsman Hanif Muhammad died. He was 81.
3. Rajasthan signs MoU woth India Trade and Exhibition Centre
Rajasthan government signed a memorandum of understanding (MoU) with India Trade And Exhibition Centre (ITEC), Dubai for promotion of skill development, investment and tourism sectors.
As per the agreement, ITEC would work as a service providing agency for promotion of skill development, investment and tourism sectors in Rajasthan.
Chief Minister Vasundhara Raje before the signing ceremony chaired a high-level meeting to discuss various sectors of mutual cooperation.
ITEC Chairman Sudesh Agarwal assured that ITEC would provide support for increasing partnerships with Dubai in other sectors as well, a release said.
1. Axis, Suvidhaa tie-up for collateral-free loans to urban poor
Private sector Axis Bank launched a micro-lending product to disburse unsecured loans of up to Rs 15,000 to the urban low income segment using payments company Suvidhaa Inforserve's customer database.
"This is the first-of-its-kind offering which will give collateral-free loans of up to Rs 15,000 within two hours to deserving individuals based on their cash flow history," Axis Bank Executive Director Rajiv Anand said.
Suvidhaa, which is into remittances, bill payments and rail bookings among others, has over the past nine years accumulated data on transactions of its 35 million customers which will be used by the bank to disburse the loans even if credit information companies are unable to provide data.
Apart from term loan, the bank has also included an overdraft facility under the product to enable small traders and hawkers, who are in need for short-term liquidity, to avail credits and if they pay the same day, will be interest-free as well, the private lender said.
A customer can walk into any of the over 22,000 outlets from where Suvidhaa serves Axis Bank as a business correspondent to avail the loan.
2. Hanif Mohammad, Pakistani Cricket's Little Master, Dies at 81
Pakistan's legendary former captain and batsman Hanif Muhammad died. He was 81.
3. Rajasthan signs MoU woth India Trade and Exhibition Centre
Rajasthan government signed a memorandum of understanding (MoU) with India Trade And Exhibition Centre (ITEC), Dubai for promotion of skill development, investment and tourism sectors.
As per the agreement, ITEC would work as a service providing agency for promotion of skill development, investment and tourism sectors in Rajasthan.
Chief Minister Vasundhara Raje before the signing ceremony chaired a high-level meeting to discuss various sectors of mutual cooperation.
ITEC Chairman Sudesh Agarwal assured that ITEC would provide support for increasing partnerships with Dubai in other sectors as well, a release said.
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