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MSME POLICY & DEFINITION 2025
MSME IN INDIA Micro, Small & Medium Enterprises (MSME) is India’s economic growth pillar. MSMEs have played a prominent role in developing the country in terms of creating employment opportunities- MSMEs contribute 29 percent to India’s gross domestic product and comprise almost half of its exports. These units employ over 11 crore workers. MSMEs are…
PRIME MINISTER’S EMPLOYMENT GENERATION PROGRAMME (P M E G P)
PMEGP is a new MSME Scheme of Govt. of India by merging REGP and PMRY scheme launched on 04-04-2008. State Khadi & V.I. Board and District Industries Centre of the State Government have also been associated in the implementation of the programme. Special Package of subsidy to promote rural industrialization. Empowering entrepreneurs through Skill Development…
BANK GUARANTEE AND INDEMNITY CONTRACT
Bank Guarantee A Bank guarantee is a promise from a bank that the liabilities of a debtor will be met if the debtor fails to fulfill their contractual obligations. It is a promise from a bank or other lending institution that if a particular borrower defaults on a loan, the bank will cover the loss.…
BASEL ACCORDS
THE BASEL COMMITTEE ON BANKING SUPERVISION The Basel Committee on Banking Supervision (BCBS) is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision, and practices of banks worldwide to enhance financial stability. Its 45 members…
TYPES OF CHARGES ON SECURITIES IN LOAN ACCOUNTS
Introduction To safeguard their advances, the bank accepts different types of securities during the lending and creates charges upon them. When land/buildings and fixed assets that are permanently fastened to the earth are offered as a security, it is charged by a mortgage in favor of a bank. When movable goods are offered as a…
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