In India, Micro, Small, and Medium Enterprises (MSMEs) are the backbone of the country’s economic growth, generating employment and contributing significantly to the GDP. However, accessing credit has often been a significant challenge for such enterprises, especially for startups and small-scale businesses. This is where responsible lending plays a transformative role. At LendingKart, responsible lending […]
The immediate payment service (IMPS) was launched in 2010 as an alternative to the real-time gross settlement (RTGS) and national electronic fund transfer (NEFT) systems. The IMPS bank fund transfer system is unique as it combines the best characteristics of RTGS and NEFT. One of the notable features of this system is the flexible
What is UPI? UPI is an advanced version of IMPS (Immediate Payment Service) from NPCI which can also be identified as your financial address. Just like your bank accounts, this UPI remains unique to every single individual and helps you transfer and receive funds with ease and speed. The best part about this is
A current account allows individuals, professionals, and businesses to conduct a variety of everyday monetary activities. The account can be opened and administered by a single person, a group of people, or a company. In comparison to Savings Accounts, Current Accounts pay no interest and have a greater minimum account balance requirement. Current accounts
Microloans are small loans provided to low-income individuals who need access to traditional financing options. Microlenders, non-profit organizations, or microfinance institutions usually give these loans to help individuals start or grow their businesses. Microloans have become increasingly important for women entrepreneurs facing numerous barriers to accessing traditional financing. In this article, we will uncover
The rapid growth of technology led to the rise in online transactions, which are now a part and parcel of daily life. Digital payment methods let you pay your bills, shop online and transfer money to other bank accounts seamlessly and from the comfort of your own home. In this article, we will explore
The entire financial system, from the smallest local bank to the largest global institution, is built on a foundation of trust and a continuous flow of capital. Banks act as the heart of the economy, pumping funds from savers to borrowers to fuel investment, innovation, and growth. But what happens when that flow is
The introduction of ‘digital’ space in India has indeed redefined how we manage our money; be it shopping, investing, or handling regular payments. However, with convenience comes complexity. Managing recurring payments for subscriptions, loans, or bills can turn into a headache in no time, without the right tools. That’s exactly where systems like e-nach
In today’s fast-paced digital landscape, financial transactions are increasingly being carried out electronically. Despite the rise of UPI, NEFT, and RTGS, the cheque continues to hold its ground as a vital financial instrument, particularly in the world of business. Many individuals and businesses throughout the country still rely on and even prefer using cheques
One of the main benefits of digital banking is how convenient it has now become to send and receive money through National Electronic Funds Transfer (NEFT) and other methods of electronic fund transfer. Thanks to internet banking and mobile banking, you no longer need to visit a bank in person or wait in line
No Cost EMI transforms the way consumers make purchases by removing the stress of extra interest fees. It offers individuals a flexible and convenient way to access products or services while dividing the cost into manageable installments. Unlike typical installment plans that accumulate interest on the remaining balance, No Cost EMI guarantees that buyers
