I got my first practical experience of an SME loan by sanctioning a MUDRA loan for a retail shop. For this project, I had to analyze how people run their retail shops. I present here the best practices that I came across and some additional factors. I have seen many established retail shops employing these strategies………
Back in the days when I was working in a bank. One day we were asked to attach a CIBIL report of borrowers in the files of all agricultural loan. That is when I realized the relevance of CIBIL for agricultural loans.
So, how does CIBIL matter for farmers? Most of the credit institutions have made CIBIL mandatory for any type of loan. In the case of agriculture loans, the absence of credit history is not given much importance by banks……….
Recently a LIC agent visited my house, I didn’t buy any policy as my life insurance goals are already covered. But the conversation (which was almost 2 hours) made me think about a question.
Is LIC of India still a good option? If you are looking to buy a pure insurance product, LIC is comparable to other insurance companies. If you are looking for endowment, money back, etc (a policy which provides a return on the premium paid, on maturity), the story changes completely………….