Basis Points (BPS) is a critical standard of unit in finance that represents one-hundredths of a percentage point (0.01%). It is one of the prudent indicators that impact financial decisions and valuations. The basis points are used by RBI, bond…
A Debt-to-income ratio is a financial standard that gives a real-time comparison of an individual’s debt and his total monthly income. This ratio is calculated by devising the total debt by the gross income and is a key indicator of…
Antyodaya Anna Yojana is a government-sponsored programme that was introduced by N Sri Vishnu with the idea of offering food at low prices, thus addressing the hunger of the poorest families. The scheme was introduced in the year 2000 by…
Chit Funds are highly regarded in India as effective savings schemes known for yielding returns. Governed by the Chit Fund Act of 1982, these entities operate under stringent state government regulations. Membership in a Chit Fund scheme offers individuals the…
SLR stands for Statutory Liquidity Ratio, which refers to the minimum percentage of deposits that a commercial bank is required to keep in the form of gold, cash, and other approved securities. These deposits are held by the bank, and…
Can I get a loan for myself, even if I already have a loan for my education? Yes, it is possible to obtain a personal loan while you have an education loan. However, the approval of the loan will depend…
Ration Cards are an initiative by the Government of India that entitles families below the poverty line to receive food grains at subsidised prices. The families are offered the foodgrains via PDS (Public Distribution System). The government has announced different…
The CIBIL report is a record of your borrowing behaviour that influences your CIBIL score. A score of 750 or higher unlocks better loan terms, but even lower scores can be improved with diligent effort. What is a good credit…
A personal loan is a lump-sum financial product that is typically unsecured, providing individuals with funds for specific needs like debt consolidation. Repayment occurs in fixed monthly instalments over a set period, with interest rates that are either fixed or…