Latest News
-
25% Dividend Record Date: Logistic Stock Nears 1-Year High And It Belongs To Mahindra; Motilal Neutral -
1:10 Split, 26 Dividends: Tata's 26-Year-Old Retail Stock In Focus, Q4, Dividend Ahead; Buy For Target Rs 4200 -
1:5 Split Soon: Rs 2,300 Defence Stock To Split Into Five Shares, Rs 400 Cr Fundraising Too; Hits 52-Week High -
Penny Stock Bags Back-To-Back Orders Worth Rs 500 Mn, 110 Mn; Shares Hit Upper Circuit -
Marshall Wace Offloads Stakes in 21 Indian Companies for Rs 2,365 Crore -
Rishi Sunak Announces Generational Hike in UK Defence Spending -
Dr Reddy's Issues Recall for Six Drug Lots in US Over Subpotency Concerns -
Dr Reddy's Voluntarily Recalls Six Drug Lots in US Over Potency Concerns -
IRCON, RITES: 2 Multibagger Navratna Railway Stocks Potential To 17-24% Upside Ahead; Assigned BUY Rating -
AU Small Finance Bank Unveils New Products Including Rupay Credit Card
Yes Bank Provides Easy Access To Credit To MSMEs Through Its Smart Edge
To ease working capital related woes of the MSME sector, private sector lender Yes Bank has stepped in to offer working capital loan between Rs. 1 crore to Rs. 3 crore. The loan is extended as letter of credit, overdraft or financial bank guarantee under a one-of-its-kind scheme called Smart Edge for MSMEs.
In the surrogate financing model, enterprises will not be required to submit financial accounts even when the appraisal of the entity shall be done through data points including operative bank accounts and GST returns.
Also, on the hindsight shall be at play a scorecard which shall analyse credit indicators both from bank accounts as well as GST returns. And this shall help in the determination of collateral cover which will start from 85%.
MSMEs can apply for the loan through any of the bank's branch and it will enable simpler and rapid processing of loan.MSMEs would have to furnish their GST returns and operative bank account statements for the last 12 months for assessment along with KYC document for the programme. Collateral acceptable to the bank will be taken as security for the loan, the bank said.
GoodReturns.in
