Shine india monthly magazine

Shine india monthly magazine

Shine india monthly magazine published this article the banking lending rates are determined by the MCLR or marginal cost of funds lending rate introduced in 2016.  MCLR replaced the base rate system introduced in 2010..  Both the base rate and the MCLR were internally determined by the banks themselves. However. the major difference between the two was that calculation of base rate was done as the bank saw fit while MCLR was to be calculated through a set formula. A Non.Banking Financial Company NBFC. is a company registered under the Companies Act. 1956 engaged in the business of loans and advances. acquisition of shares.stocks.bonds .debentures.securities issued by Government or local authority or other marketable securities of a like nature. leasing. hire.purchase. insurance business. chit business. Difference between Banks and NBFCs  NBFC cannot accept demand deposits  They are not part of the payment and the settlement system and thus cannot issue cheques drawn on itself.  Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs shine india monthly magazine subscription.

Shine india monthly magazine