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Short-term loans to help industries
MB Subba Industries will now have access to over Nu(M)500 million in short-term working capital loans to import raw materials. The Royal Monetary Authority (RMA) launched the monetary measure yesterday as part of its fundraising campaign to help the industrial sector cope with the impacts of the Covid-19 pandemic. Working capital will be provided at …
From Cash Cow to Achilles Heel: Transforming the Consumer Lending Industry
Stress in the consumer lending industry, which was once a cash cow for banks and non-bank financial services, only appears to be intensifying, as statements and updates from these lenders suggest. A critical highlight in RBL Bank’s media statement regarding its business updates relates to its credit card segment. “Acquisitions stopped during the …
NEA: ECs can apply for short-term loans from banks
This February 17, 2020 file photo shows National Electrification Administrator Edgardo Masongsong. (TMT file photo) Electricity cooperatives (EC) are allowed to seek short-term loans from banks to mitigate the negative impact of coronavirus disease 2019 (Covid-19) on their operations, the National Electrification Administration said on Tuesday. (NEA). According to NEA administrator Edgardo Masongsong, the country’s …