"Without a bold, long-term vision for those financially affected by the pandemic there is a real danger of lasting economic and social damage that will deepen inequality, jeopardise the Government's levelling-up ambitions and act as a drag on economic recovery. … [Read more...] about Emergency help needed for 1million people who have fallen into severe debt since March
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I have ofen heard similar sentiments across South and Southeast Asia. During a stop at farms outside of Siem Reap, fishermen told me how their catch was shrinking rapidly, while farmers said they have been losing water for crops, all because of dam construction by Chinese firms along the Mekong River. In Dhaka, billboards and banners for Norinco—a Chinese weapons manufacturer and construction company—dominate; representatives of Bangladeshi construction companies gripe that the Chinese are handed the big contracts, including those for office buildings, hotels, and convention centers. I encountered the same complaints in the past two years in Vietnam and Burma. … [Read more...] about China’s Plans For World Conquest? Easy Credit
These deals often send waves through a whole retail sector, with rival brands striving to match prices. That goes not only for gift cards, but also TVs, TV accessories, smart speakers (last year saw a great deal on HomePods), smart phones, security devices, older video games and more. Big-box retailers tend to highlight these deals in their Black Friday ad buys. … [Read more...] about Best things to buy on Black Friday: Gift cards? Gadgets? The best and worst products for deals
NEW DELHI The government on Thursday said it has extended the Emergency Credit Line Guarantee Scheme (ECLGS) to the health sector and 26 other sectors identified by the Kamath Committee. The National Credit Guarantee Trustee Company Limited (NCGTC) has issued the operational guidelines for implementation of ECLGS 2.0 scheme, the finance ministry said in a statement. The scheme was announced by the government earlier this month as part of the Rs 2.65 lakh crore Atmanirbhar Bharat 3.0 package. "Under ECLGS 2.0 entities with outstanding credit above Rs 50 crore and not exceeding Rs 500 crore as on February 29, 2020, which were less than or equal to 30 days past due as on February 29, 2020 are eligible," the statement said. The loans provided under ECLGS 2.0 will have a five-year tenor, with a 12-month moratorium on repayment of principal, it said. "These entities or borrower accounts will be eligible for additional funding up to 20 per cent (which could be fund based or non-fund based or … [Read more...] about Government extends credit guarantee scheme to 27 sectors
The scheme would be applicable to all loans sanctioned under ECLGS during the period from the date of issue of these guidelines by NCGTC to March 31, 2021 or till guarantees for an amount of Rs 3 lakh crore crore is sanctioned under the ECLGS (taking into account both ECLGS 1.0 and 2.0), whichever is earlier. … [Read more...] about How will govt’s credit guarantee scheme 2.0 work?