Gothic bellydance troupe – Hands Of Kali http://handsofkali.com/ Mon, 11 Oct 2021 10:12:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://handsofkali.com/wp-content/uploads/2021/08/icon-6-150x150.png Gothic bellydance troupe – Hands Of Kali http://handsofkali.com/ 32 32 Namfisa earns millions through cash loans http://handsofkali.com/namfisa-earns-millions-through-cash-loans/ http://handsofkali.com/namfisa-earns-millions-through-cash-loans/#respond Thu, 07 Oct 2021 08:42:36 +0000 http://handsofkali.com/namfisa-earns-millions-through-cash-loans/ A watchdog of NAMIBIA’s financial institutions, Namfisa has collected over N $ 120 million in withdrawals from microlenders, commonly referred to as cash loans, over the past three years. This makes micro-lenders the regulator’s second-largest source of revenue – around 21% of the N $ 566 million earned. What Namfisa earns from these entities is […]]]>

A watchdog of NAMIBIA’s financial institutions, Namfisa has collected over N $ 120 million in withdrawals from microlenders, commonly referred to as cash loans, over the past three years.

This makes micro-lenders the regulator’s second-largest source of revenue – around 21% of the N $ 566 million earned.

What Namfisa earns from these entities is more than what pension funds (5.6%), medical aid funds (2.58%), mutual funds (13%) and companies. long-term insurance (18%) pay in direct debits – despite micro-lenders with the lowest balance sheet values.

There are, however, many micro-lenders, which could explain why these direct debits are the cornerstone of the regulator.

In FY2021 alone, although the microcredit sector experienced a contraction in lending, microlenders paid Namfisa over N $ 43 million in direct debits.

It was more than all the other players in the industry, such as pension funds and the stock market, paid.

Some 350 microlenders were registered with the regulator at the end of 2020, compared to 423 declared for 2019.

These micro-lenders had 516,970 active loans at the end of last year with a combined value of N $ 6 billion.

Namfisa says it charges an annual rate equal to 1.03% on the total amount of disbursed loans and this is what brought in the N $ 43 million until the end of March of this year.

For 2020, microloans have disbursed loans to the tune of N $ 4 billion.

The Namibian has received several reports that micro-lenders have overextended their loans to people who are not creditworthy.

This has created a loan life cycle – a credit trap that many Namibians are unable to escape.

Namfisa says he also received such reports and explained that the law prohibits micro-lenders from granting loans without an affordability assessment having been carried out.

The said law further prohibits microlenders from granting a loan to a person who already has an existing loan, unless the assessment of the affordability of the loan application clearly demonstrates the ability of the loan applicant or borrower to repay the additional loan, taking into account all of his or her existing obligations, ”explains Victoria Muranda, spokesperson for the regulator.

In the event that the micro-lenders break the law, Muranda says the micro-lender would have been found to have committed an offense and would be liable, on conviction, to a fine of not more than N $ 500,000 or to a sentence of imprisonment. ‘imprisonment not exceeding five years, or both.

The microcredit space is dominated by Letshego Financial Services Namibia and Entrepo Namibia.

Muranda says that in fiscal 2021, which ended in March of this year, 42 unregistered micro-lenders were reported to their offices.

The unregistered entities reported were urged to repay borrowers and to cease and desist from illegal microcredit activities, she said.

It is not clear whether there have been any arrests or fines imposed according to the law, she said.

Namfisa has been accused of treating microlenders with gloves over time, especially those known to have actively abused lending practices.

In June of this year, the Bank of Namibia said Namibians were borrowing too much.

According to the central bank, data for 2021 showed household debt to disposable income to stand at 89.1%.

This means that the average Namibian household has only 10% of their disposable income after servicing their debts.

Muranda says the public is encouraged to report unregistered microlenders and those registered, but lending above what is affordable.

E-mail: [email protected]

Twitter: @Lasarus_A


Source link

]]>
http://handsofkali.com/namfisa-earns-millions-through-cash-loans/feed/ 0
Don’t Pay Cash Loans -How To Formally End Payday Loan Payments? – Azerbaijani information http://handsofkali.com/dont-pay-cash-loans-how-to-formally-end-payday-loan-payments-azerbaijani-information/ http://handsofkali.com/dont-pay-cash-loans-how-to-formally-end-payday-loan-payments-azerbaijani-information/#respond Sat, 02 Oct 2021 01:04:58 +0000 http://handsofkali.com/dont-pay-cash-loans-how-to-formally-end-payday-loan-payments-azerbaijani-information/ Don’t Pay Cash Loans -How To Formally End Payday Loan Payments? Running into a great financial situation is a simple approach to increasing the spending budget of family members. It allows you to find a withdrawal of money from your account in a few minutes. But the attraction of payday loans is that they get […]]]>
Don’t Pay Cash Loans -How To Formally End Payday Loan Payments?

Running into a great financial situation is a simple approach to increasing the spending budget of family members. It allows you to find a withdrawal of money from your account in a few minutes. But the attraction of payday loans is that they get drawn quickly, nevertheless you still have to pay them off immediately.

The answer could be to mix multiple debts into one consolidation financing, unfortunately, while banks will combine cash loans or residential loans, they take consolidation very seriously and allow repayment of funds payable by underwriters. What issues do they really agree on?

How do you officially prevent the payment of a payday loan?

Payday loans are a convenient and easy-to-provide monetary product, but the repayment prices are higher. Free non-bank loan products carry the risk of difficulty deciding on debt, having as it was paid eventually, if the deadline is passed, significant fees could be charged.

Find out what to know before you decide to stop spending your money. Cash pooling tries a lifeline for people who have withdrawn a lot or a lot of finances while having damages by paying off all of them.

The ideal solution is along with the economic prejudice of people who have withdrawn numerous loans or payday advances might end up being integrating. Exactly what is payday loan relief? Really a connection between them, or the merger, of financial obligations before getting by customers.

In the case of merged cash loans, many of these types of financing are mixed and paid by the public immediately, either as a mortgage loan or as a larger merged loan. In this way, there is no debt and be sure of the convenient compensation of a single large burden, but using a reduced release, thanks to the extension of the term of the general mortgage.

This can be a comfort to the finances of any residence and an improvement in the decision of several cash loans which were heretofore supported by the capital of the clients. The merger consists in replacing the existing economic indebtedness with one, but on a broader terminology.

The payday loans are settled and the repayment of the new financing begins. Unlike many monthly payments, often in several volumes, an individual brings an interest rate.

Approaches to Consolidating Payday Loans After Due Date Precisely What Do They Do?

Generally speaking, finance companies and credit companies grant the merger of payday advances, and these are often repaid, that is, the consumer does not delay and does not get into debt. in its payment. What are the results, however, when you have to merge cash loans with setbacks?

Bankers won’t want to approve implementation funding from someone who later spends payday advances. In this case, there remains the non-bank consolidation, that is, a consolidation loan in a non-bank company.

The integration of the payday advance loan upon maturity is problematic. A simple method is probably to always take out a payday loan online to pay off late debt, plus interest, and only after that, you will need consolidation financing. It is really worth pointing out that when the provider of borrowed funds where most of us have taken out a payday loan cooperates with BIK, then the financial institution will quickly notice our own delays and deny the request for good.

Agencies providing loan products for consolidation have less stringent specifications for their staff and are generally sometimes able to recognize certain setbacks in the repayment obligations they consolidate.

Does Online Payday Loan Consolidation Happen Financially?

Using several payday loans in the past is just not safe, but people start getting into financial trouble and would like to get rid of them by all means. When they are worth many payday obligations in a single period or pay them off to the lender in full, then there is a challenge.

It is true that creditors are ready to move on to the loan stage, but exclusively for remuneration. The income generated by a problem is high, so it will be considerably better and economical to take consolidation financing. Combining payday loans is unlikely to burden buyers’ creditworthiness to the same degree as paying off many longer payday loans at the same time.

By getting rid of payday loans, we all have a healthy financial position with a particular repayment determination. The relief of cash loans on the web is helpful and can also seem like a very profitable option. This is likely to happen if the one-time deal quid pro quo actually lowered the prices of the monthly installments.

Some offers may reduce them slightly, so a long pay meeting will result in big bills for all the money, which is definitely not good. The online payday loan received to pay off the most recent debt expenses must be cost effective to ensure that it will not create additional financial problems for the buyer.


Source link

]]>
http://handsofkali.com/dont-pay-cash-loans-how-to-formally-end-payday-loan-payments-azerbaijani-information/feed/ 0
Pag-IBIG offers up to 3 years of repayment for cash loans http://handsofkali.com/pag-ibig-offers-up-to-3-years-of-repayment-for-cash-loans/ http://handsofkali.com/pag-ibig-offers-up-to-3-years-of-repayment-for-cash-loans/#respond Sat, 18 Sep 2021 07:00:00 +0000 http://handsofkali.com/pag-ibig-offers-up-to-3-years-of-repayment-for-cash-loans/ Pag-IBIG Fund in Makati City. Mark Demayo, ABS-CBN News MANILA – The state-owned and controlled Pag-IBIG Fund has facilitated the payment of cash loans for Filipinos with an extended payment term of up to three years. In a statement released Thursday, September 9, Secretary of the Department of Human Settlements and Urban Development (DHSUD) Eduardo […]]]>
Pag-IBIG Fund in Makati City. Mark Demayo, ABS-CBN News

MANILA – The state-owned and controlled Pag-IBIG Fund has facilitated the payment of cash loans for Filipinos with an extended payment term of up to three years.

In a statement released Thursday, September 9, Secretary of the Department of Human Settlements and Urban Development (DHSUD) Eduardo del Rosario and the board of the Pag-IBIG Fund said his agency was continuing to improve its programs to respond to the needs of its members in the midst of the COVID-19 pandemic.

“We are extending the term of our cash loans from two years to three years to give borrowers more time to repay their loans, and more importantly, to reduce their monthly payments,” they said.

The Pag-IBIG Fund’s cash loans are in the form of a multipurpose loan (MPL) and a disaster loan (CL) for disaster areas. Also known as Short Term Loans (STLs), MPL and CL are affordable and easily accessible sources of funds for its members.

Qualified members can borrow up to 80 percent of their total Pag-IBIG regular savings, which consists of their monthly savings, matching contributions from their employer and dividends earned annually.

The proceeds can then be used to pay for tuition, medical bills, minor home renovations, as capital for small businesses, or as an emergency disaster fund.

Pag-IBIG Fund CEO Acmad Rizaldy Moti said that by their calculation they reduced the monthly payments by almost a third with the extension of the payment period.

With an average cash loan of 20,000 pesos, members pay 1,016.52 pesos per month for an MPL and 897.23 pesos per month for a disaster loan with a two-year payment term.

However, with the new three-year payment term option, the amount of each monthly payment will be reduced to just P 734.57 per month for an MPL and P 615.72 per month for a catastrophe loan. With payments spread over a longer period, the monthly payments were reduced by 28% for the MPL and by 31% for the Calamity Loan.

“We are ready to help more members in the coming months, now that the extended payment term has made our cash loans even more affordable. We have also made the loan application process safer and more convenient by accepting loans. online loan applications, ”Moti said. .


Source link

]]>
http://handsofkali.com/pag-ibig-offers-up-to-3-years-of-repayment-for-cash-loans/feed/ 0
Report: Cash loans from non-institutional agencies plunge | India News http://handsofkali.com/report-cash-loans-from-non-institutional-agencies-plunge-india-news/ http://handsofkali.com/report-cash-loans-from-non-institutional-agencies-plunge-india-news/#respond Thu, 16 Sep 2021 07:00:00 +0000 http://handsofkali.com/report-cash-loans-from-non-institutional-agencies-plunge-india-news/ NEW DELHI: The grip of pawnshops in rural areas of the country could ease. A recent survey showed that the share of cash debt of non-institutional lending institutions fell sharply to 34% in 2018 from 44% in 2012 and almost all states have shown this trend, indicating the increase in the formalization of the economy. […]]]>
NEW DELHI: The grip of pawnshops in rural areas of the country could ease.
A recent survey showed that the share of cash debt of non-institutional lending institutions fell sharply to 34% in 2018 from 44% in 2012 and almost all states have shown this trend, indicating the increase in the formalization of the economy.
An analysis of the All India Debt & Investment Survey (AIDIS) recently released by SBI Research showed that the share of non-institutional credit has declined significantly in Bihar, West Bengal, Rajasthan, Haryana and Gujarat .
He said that even in Haryana and Rajasthan which have witnessed loan waiver programs, the share of non-institutional credit has declined contrary to popular perception. “This could be explained by a significant increase in the penetration of Kisan credit cards (KCC) in these two states. Our estimates show that the number of KCC cards increased five times over the seven-year period ended in 2020. has seen an average increase of 9%, “said Soumya Kanti Ghosh, chief economic adviser of the SBI group.
He said recent reforms in agriculture could further help formalize the economy. “However, there is still a fundamental reform pending which is in the domain of the RBI. It makes farm cash credit on par with other segments,” he said. The report states that according to the asset classification standards for farm advances, in the case of a farm cash credit account, a farmer must repay the entire outstanding amount (principal and interest) to apply for new loans. with banks, unlike other segments of the cash lending business. where if the borrower has offset the interest payments, he / she would be eligible for the upgrade / renewal. It would be in the farmer’s interest for the farmer to benefit from a renewal / improvement, especially when the bank is satisfied with the farmer in terms of land ownership / ability to pay etc., adds the report.
The AIDIS report for 2018 shows an increase in the average amount of debt among rural and urban households, with the average amount of debt increasing by 84% and 42% respectively for rural and urban households for the 6-year period ended in 2018. State The wise trend indicates that the average rural household debt more than doubled in 18 states for the 6-year period ended in 2018, while 7 states experienced the same for urban households. It is important to note that 5 states, including Maharashtra, Rajasthan and Assam, experienced a simultaneous doubling in the average debt of urban and rural households during this period, according to the SBI report.


Source link

]]>
http://handsofkali.com/report-cash-loans-from-non-institutional-agencies-plunge-india-news/feed/ 0
Pag-IBIG fund makes cash loans more affordable http://handsofkali.com/pag-ibig-fund-makes-cash-loans-more-affordable/ http://handsofkali.com/pag-ibig-fund-makes-cash-loans-more-affordable/#respond Fri, 10 Sep 2021 07:00:00 +0000 http://handsofkali.com/pag-ibig-fund-makes-cash-loans-more-affordable/ The Filipino star September 10, 2021 | 00h00 MANILA, Philippines – Pag-IBIG Fund has made its cash loans more affordable by extending its payment term to three years, senior officials said yesterday. “In these difficult times, we continue to improve our programs to meet the needs of our members. Last year, we launched special programs […]]]>

The Filipino star

September 10, 2021 | 00h00

MANILA, Philippines – Pag-IBIG Fund has made its cash loans more affordable by extending its payment term to three years, senior officials said yesterday.

“In these difficult times, we continue to improve our programs to meet the needs of our members. Last year, we launched special programs such as a payment moratorium and grace periods under Bayanihan laws, to help our borrowers manage their finances. This year, we are extending the term of our cash loans from two years to three years to give borrowers more time to repay their loans, and most importantly, to reduce their monthly payments. This is our response to President Duterte’s call to provide the services needed to help more Filipinos recover from the pandemic, ”said Secretary Eduardo del Rosario, Chairman of the Department of Human Settlements and Urban Development (DHSUD ) and 11 members. Board of Directors of the Pag-IBIG Fund.

The Pag-IBIG Fund’s cash loans are in the form of a multipurpose loan (MPL) and a disaster loan (CL) for disaster areas. Also known as Short Term Loans (STLs), MPL and CL are affordable and easily accessible sources of funds for its members. Qualified members can borrow up to 80 percent of their total Pag-IBIG regular savings, which consists of their monthly savings, matching contributions from their employer and dividends earned annually.

The proceeds can then be used to pay for tuition, medical bills, minor home renovations, as capital for small businesses, or as an emergency disaster fund.

“Pag-IBIG cash loans are paid over 24 months. And now our members have the option to extend the term to 36 months. By choosing a longer payout period, members can benefit from significantly lower monthly payouts, ”Pag-IBIG Fund CEO Acmad Rizaldy Moti said.

Moti said that by their calculations, they reduced the monthly payments by almost a third. With an average cash loan of 20,000 pesos, members pay 1,016.52 pesos per month for an MPL and 897.23 pesos per month for a disaster loan with a two-year payment term.

However, with the new three-year payment term option, the amount of each monthly payment will be reduced to just P 734.57 per month for an MPL and P 615.72 per month for a catastrophe loan. With payments spread over a longer period, the monthly payments have been reduced by 28% for the MPL and by 31% for the Calamity Loan.

“We recognize that these are difficult times and we are doing all we can to help our members as the health emergency continues. From January to July alone, we released 25.42 billion pesos in cash loans to help over 1.1 million members. We are ready to help more members in the months to come, now that the extended payment deadline has made our cash loans even more affordable. We have also made the loan application process safer and more convenient by accepting loan applications online through the virtual Pag-IBIG. It’s Lingkod Pag-IBIG at work, especially when the members need us the most, ”Moti said.


Source link

]]>
http://handsofkali.com/pag-ibig-fund-makes-cash-loans-more-affordable/feed/ 0
10 Benefits of Instant Cash Loans You Probably Didn’t Know: South Florida Caribbean News http://handsofkali.com/10-benefits-of-instant-cash-loans-you-probably-didnt-know-south-florida-caribbean-news/ http://handsofkali.com/10-benefits-of-instant-cash-loans-you-probably-didnt-know-south-florida-caribbean-news/#respond Tue, 13 Jul 2021 07:00:00 +0000 http://handsofkali.com/10-benefits-of-instant-cash-loans-you-probably-didnt-know-south-florida-caribbean-news/ What do you do if your car breaks down while on the road, and there’s not enough money in your pocket Cash loans @ IPass.net? In addition, there are many other issues in our lives that could occur at any moment. If this happens it is imperative to get immediate financial help in order to manage […]]]>

What do you do if your car breaks down while on the road, and there’s not enough money in your pocket Cash loans @ IPass.net?

In addition, there are many other issues in our lives that could occur at any moment. If this happens it is imperative to get immediate financial help in order to manage the situation do you not?

A cash-on-demand loan could be a fantastic solution to such issues that you face in life. Additionally, you do not have to provide your credit card’s credit information. Furthermore the process is quicker and you can get the money you need within a day or in an instant.

If you don’t know more about instant cash loans, learn more about instant cash loans at directloantransfer.com/instant-cash. They’ve explained everything you need to know regarding instant cash loans, so that you won’t have concerns.

In this article I’ll share the 10 advantages of cash advances which you might not be aware about. I also believe and hope that this article will assist you greatly with regards to cash advances that are instant.

There are more benefits of cash loans that are instant however, I’m going discuss 10 benefits over others, as they are the top advantages over others.

# 1 Requires less time

You’re aware that your demands won’t be put off for long. You’ll need money to address your immediate issue today. What if you received the money you needed just two days later? It’s probably not worth anything would it? In this scenario an instant cash loan could be an instant game-changer.

For an instant cash advance, you don’t have to go to the bank it is a great option to everyone. If you’ve got an Internet connection and the aid of an electronic gadget, then you are able to apply for a loan very quickly. All you have to do is fill out an online form, and then the lender could request additional details regarding the applicant.

2. Credit history not needed

If you’re looking to get an instant cash loan you do not have to be concerned about your credit background. When you approach the bank to get the loan, they’ll look into the credit history. This means that you could or might not be eligible to get an loan from a particular bank.

Contrary to that, instant loans do not have any effect on your credit background. If you are able to pay back the loan in the near future is assessed. If you’re able to repay the loan on your next payday, you’re all set.

#3 No documentation is needed

If you plan to apply for personal loans at your local bank you need to send all documentation with the bank. After you’ve reviewed your documents and everything is in order then you will be able to obtain the loan approval. Otherwise, you will be a bit of a burden.

You don’t have to provide any documents to get your cash loan in a flash. Lenders might ask for additional information when they require it. Thus, you’ll be eligible for the loan , and within 24-hours or less, you will receive the funds in your online account.

# 4 Loan amounts that are flexible

In the majority of instances, you are able to take out a loan, and then choose the amount. It can be less or greater depending on your requirements. The lender will check all information provided by you. Based on your requirements or the kind of work you’d like to accomplish the lender will be able to approve the loan amount.

5. Lower interest rate

If you’ve had the experience of taking personal loans at your local bank be aware of the interest rate. When compared to your bank it is the case for the rate to be less. Actually, it is contingent on the length of time and the amount you pay the lender.

If you are able to pay off the loan once you have received the next payday check then you’ll have be able to make payments at a lower interest. However, your rate might rise if you’re not capable of repaying the loan in a timely manner. If you are not the credit score plays an important factor and you must pay a lower interest rate.

# 6 No guarantees

If you are applying the instant loan it is not necessary to provide either collateral nor collateral. This is due to the fact that it’s an unsecure personal loan which doesn’t require any collateral. However you will need to provide the form of a guarantee prior to getting the personal loan you need at your bank for commercial purposes.

# 7 Loan terms that are flexible

Based on your capabilities You can decide on the term of repayment that you are comfortable with. It could be a lengthy period or a shorter. If you’re eligible for a cash loan that is instant and your lender offers you a lengthy repayment time to allow you to pay at your own convenience. If you’re unable to repay the loan in full at the time of your next payday You should contact your lender in order that they will extend the period of the loan.

# 8 24/7 availability

Your urgency doesn’t come to inform you, right? It could be in front of you any time any time. In this scenario you won’t be in a position to obtain loans from commercial bank because they are not always accessible. In contrast the instant cash loan is completed at any time since it’s available 24 hours a day. This is the most appealing feature of a cash loan that is instant online.

#9 Quick payment

If you are faced with an emergency, you’ll need money immediately. This is among the most practical benefits of a quick cash loan since you’ll be paid upon approval. The sooner you provide all the required information for the lending institution, the faster you’ll receive the cash in your savings account.

# 10 Fast processing

The entire process could take between 20 and to less than 25 minutes. After you have submitted all the necessary details, the approval process can take between 2 and 3 hours. When you fill in the form and send in all the information required by the lender the lender needs, they can credit to your account savings next day, in the majority of cases and the following day.

The final thought

If you’re in an emergency situation or you require immediate cash in your wallet online A cash advance that is instant could be able to save your life. It has a shorter procedures, and requires less information to get approved for an instant cash loan. In addition, the interest is not as high as the rates you can find in a commercial bank.

]]>
http://handsofkali.com/10-benefits-of-instant-cash-loans-you-probably-didnt-know-south-florida-caribbean-news/feed/ 0
Vodacom to offer short-term cash loans between Rand 3,000-350,000 for small businesses http://handsofkali.com/vodacom-to-offer-short-term-cash-loans-between-rand-3000-350000-for-small-businesses/ http://handsofkali.com/vodacom-to-offer-short-term-cash-loans-between-rand-3000-350000-for-small-businesses/#respond Mon, 14 Jun 2021 07:00:00 +0000 http://handsofkali.com/vodacom-to-offer-short-term-cash-loans-between-rand-3000-350000-for-small-businesses/ Vodacom Financial Services announces that it will offer short-term cash loans to small, medium and micro businesses as part of an initiative to promote financial inclusion. VodaLend | Business Cash Advance will provide financing to unregistered small businesses that need quick access to short-term cash advances, the group said in a statement Monday, June 14. […]]]>

Vodacom Financial Services announces that it will offer short-term cash loans to small, medium and micro businesses as part of an initiative to promote financial inclusion.

VodaLend | Business Cash Advance will provide financing to unregistered small businesses that need quick access to short-term cash advances, the group said in a statement Monday, June 14. It will offer financing between R3,000 and R350,000 to customers using VodaPay point-of-sale (POS) devices.

Vodacom Financial and Digital Services, Managing Director Mariam Cassim, said that Business Cash Advance will further strengthen the financial security of SME partners.

“It often happens that a small business has cash flow issues during the month. While the business is liquid over the long term, it sometimes finds itself unable to meet short-term cash flow needs. This is where our Business Cash Advance product comes in.

Business Cash Advance provides financing to SME partners who trade using VodaPay point-of-sale devices, including VodaPay Max, E-Commerce Switch, and VodaPay Chop-Chop QR code. Funding is offered to SMME on the basis of its monthly turnover and, if accepted, is paid to the company within 24 hours.

“Reimbursements are specifically designed to help SME partners by being tied to the amount of money the business earns each day. When the business is not in operation, no reimbursement is required, ”Cassim said.

To qualify, users of VodaPay’s point-of-sale devices must have traded for four months or more, have a monthly turnover of at least R3,000 (collected through the merchant’s wallet, regardless of the mechanism acceptance) as well as 10 payments. transactions per month on defined payment rails.

No business registration or VAT number is required, Vodacom said. Businesses looking for funding should apply through Vodacom’s SMME portal and from there merchants can view the funding options on offer. Once the funding is approved, they can use it whenever needed.

Ineligible VodaPay customers can also access the SMME portal, where they receive a dashboard showing what they need to do to be eligible. Once qualified, acceptance can be done in less than two minutes, he said.


Read: Vodacom, Alibaba Seek To Increase Sales In South Africa With Super App


Source link

]]>
http://handsofkali.com/vodacom-to-offer-short-term-cash-loans-between-rand-3000-350000-for-small-businesses/feed/ 0
Government plans to crack down on apps offering online cash loans http://handsofkali.com/government-plans-to-crack-down-on-apps-offering-online-cash-loans/ http://handsofkali.com/government-plans-to-crack-down-on-apps-offering-online-cash-loans/#respond Mon, 22 Mar 2021 07:00:00 +0000 http://handsofkali.com/government-plans-to-crack-down-on-apps-offering-online-cash-loans/ The government plans to crack down on apps offering cash loans, explore new regulatory options that could ban coercive collection procedures, cap the interest rate and require mandatory registrations after increasing reports from across the country on of people falling into the debt trap, with at least 12 cases leading to suicide since the end […]]]>

The government plans to crack down on apps offering cash loans, explore new regulatory options that could ban coercive collection procedures, cap the interest rate and require mandatory registrations after increasing reports from across the country on of people falling into the debt trap, with at least 12 cases leading to suicide since the end of last year.

Often acting like night theft operations, these companies are exploiting a void in technical and financial regulations that experts say now pose serious concerns about privacy, data security and consumer protection.

According to several officials familiar with the matter, a Reserve Bank of India report on the matter is expected by mid-April, after which the government will use existing legal frameworks or pass new legislation to ensure that these loans are made by companies. who are registered and have a dispute resolution mechanism.

“It turns out that some of these unscrupulous online entities charge annual interest rates of up to 300%, which is not acceptable,” one of those officials said, asking not to to be named.

To target potential clients, these services use a common lure: instant loans without collateral, without due diligence, such as credit checks.

But as part of the process, they get access to sensitive personal information like files, photos, emails, and contact lists – according to permission request prompts from 10 apps available on the Google Play Store reviewed. by HT Sunday.

In several of the cases that led to the suicide of customers, the companies involved allegedly tried to shame them socially by addressing their contacts without permission. Some concerned consumers, who on social media used the hashtag OperationHaftaVasooli to draw attention to the issue, also reported cyberbullying and doxing and, in one case, also shared screenshots of an agent. recovery asking for nude photographs.

The central bank set up a task force on digital lending, including lending through online platforms and mobile apps, on Jan. 13 after such reports flooded in.

“These entities are worse than the notorious loan sharks of yesteryear, which was banned after independence by state-specific laws because the Constitution gives them the power to legislate on this issue. Therefore, similar activities cannot be allowed under digitization and online lending, ”said a second person familiar with discussions within government on the matter, asking not to be named. The problem grew during the pandemic and the lockdown, when several people lost their jobs or saw their incomes run out, the person added.

“Usually, digital lending applications partner with regular / registered NBFC banks that provide capital. These entities are clearly identifiable, consumers can use formal legal mechanisms like the RBI, ”Srikanth said in a blog post on Cashless Consumer, a fintech consumer protection group.

But, according to research from Cashless Consumer, a lot of the apps that people have started complaining about have a cloudier property. “All of these apps, which appear to have no legal entity in India, are run by crooks who work as brokers / dealers. It is quite possible that some of the money will be laundered through this as well, because all of these transactions will be outside the regulatory jurisdiction of RBI, “he added in his report. The first person cited above agreed that regulation should target” unregistered and unregulated online lenders. “

Several applications appear to be funded or hosted by entities in China. “Over the years, Chinese fintech has created global conglomerates to expand into the markets of Southeast Asia, India and Africa. What has been observed is that they actively buy NBFCs to support their business and that funds are funneled to shell companies through them and collected – at least in one case as a “software fee” “Srikanth told HT, adding that” in reality, this is income from dishonest lending activities. “

“It completely hid the magnitude of this lending activity from the banking regulator who oversees the NBFCs,” he said. Srikanth said there are also regulatory blind spots in areas that fall under the corporate registrar and the Department of Commercial Affairs.

According to a 2007 report by the RBI technical group set up to review state money lending laws, all states need a registration or license to make money lending. These rules set maximum interest rates and it is prohibited to intimidate debtors or interfere with their daily activities. State laws are applicable to individuals, businesses, associations of individuals and corporations, except banks and financial institutions regulated by the RBI. Some state laws are guided by the rule of “damdupat”, the Hindu law of debt, which states that the amount of interest recoverable at any time cannot exceed the principal.

“Digital lenders typically target customers who would not have easy access to credit elsewhere and therefore have played a very important role in improving financial inclusion and growing the economy,” said Gaurav Jalan, founder and CEO of mPokket, which provides loans to universities. students and young salaried professionals. Sanjay Khan, partner at Khaitan & Co law firm, said: [proposal] create a clear separation between genuine businesses and purely opportunistic or malicious businesses


Source link

]]>
http://handsofkali.com/government-plans-to-crack-down-on-apps-offering-online-cash-loans/feed/ 0
Three million struggling Australians access quick cash loans to pay bills http://handsofkali.com/three-million-struggling-australians-access-quick-cash-loans-to-pay-bills/ http://handsofkali.com/three-million-struggling-australians-access-quick-cash-loans-to-pay-bills/#respond Thu, 11 Mar 2021 08:00:00 +0000 http://handsofkali.com/three-million-struggling-australians-access-quick-cash-loans-to-pay-bills/ Some retirees resort to desperate measures to pay their bills, with only a few dollars a day left after covering their living expenses. Some rely on quick cash loans to get by – a system the federal government is now looking to overhaul. Perth retiree Robyne Anderson lives on just $ 40 a fortnight. This […]]]>

Some retirees resort to desperate measures to pay their bills, with only a few dollars a day left after covering their living expenses.

Some rely on quick cash loans to get by – a system the federal government is now looking to overhaul.

Perth retiree Robyne Anderson lives on just $ 40 a fortnight.

This comes down to less than $ 3 a day.

Once she pays her bills, that’s all she has left.

Life turns out to be hard.

Robyne Anderson reached out to them 82 times for cash advances and personal loans Credit: 7NEWS


Source link

]]>
http://handsofkali.com/three-million-struggling-australians-access-quick-cash-loans-to-pay-bills/feed/ 0
Fidelity will accept Bitcoin collateral for cash loans http://handsofkali.com/fidelity-will-accept-bitcoin-collateral-for-cash-loans/ http://handsofkali.com/fidelity-will-accept-bitcoin-collateral-for-cash-loans/#respond Fri, 11 Dec 2020 08:00:00 +0000 http://handsofkali.com/fidelity-will-accept-bitcoin-collateral-for-cash-loans/ Clients of Fidelity Digital Assets, a subsidiary of the investment giant, will now be able to obtain cash loans by placing their Bitcoin (BTCUSD) as collateral with its digital asset custody solution. The company has partnered with crypto-lending service BlockFi, which will provide the cash loans, for the service. Customers of both companies can receive […]]]>

Clients of Fidelity Digital Assets, a subsidiary of the investment giant, will now be able to obtain cash loans by placing their Bitcoin (BTCUSD) as collateral with its digital asset custody solution. The company has partnered with crypto-lending service BlockFi, which will provide the cash loans, for the service.

Customers of both companies can receive 60% of the total amount of a loan in cash, if it is backed by a digital asset. But this percentage is not fixed. Zac Prince, CEO of BlockFi, told Bloomberg that there is “room for customer-level customization (in the terms of the loan) and (the program) can be adjusted to meet the needs of large businesses.” .

Key points to remember

  • Fidelity Digital Assets will act as the custodian of the cash loans offered by the BlockFi crypto-lending service.
  • This is the investment giant’s first foray into crypto credit, a rapidly growing industry.
  • Fidelity’s announcement comes at a time of growing interest in Bitcoin as an investment tool.

This is the first such partnership that Fidelity has signed with a crypto-lending service. “For Fidelity Digital Assets, this is an exciting first step in supporting the burgeoning digital asset lending market and deepening our relationships within the digital asset ecosystem with leading companies like BlockFi , which allows us to provide even more institutional quality solutions to investors in this area. space, ”said Christine Sandler, sales and marketing manager at Fidelity Digital Assets.

Tom Jessop, chairman of Fidelity Digital Assets, told Bloomberg that adding Bitcoin as collateral for loans was a “core capability” and the company expected this feature to become a “pretty big part of it. ‘ecosystem (crypto) “.

A pioneer in digital assets

Crypto-lending is still a fledgling industry but has exploded during the pandemic shutdown as more people turned to decentralized finance (DeFi), an acronym for the practice of lending that cuts out middlemen between borrowers and lenders using algorithms, during a period of low interest rates. DeFi and crypto-lending services promise high interest rates for collateral, but the risk is also proportionately greater. By some estimates, the crypto lending market was worth $ 10 billion in August, up 25% from the last quarter of 2019.

Among institutional companies, Fidelity ranks among the leading players in digital assets. Fidelity Digital Assets, which began in 2018, was granted a trust company charter by the New York Department of Financial Services (NYDFS) last year. The charter enables Fidelity to offer cryptocurrency trading and custody services to financial services and businesses.

The company has stepped up its recruitment of blockchain and tech professionals for the digital assets unit and is actively targeting accredited investors and institutional investors. Last month, he announced a similar partnership to provide cryptocurrency custody to Stack Funds, a Singapore-based investment firm, to engage wealthy Asian investors in cryptocurrencies.

Fidelity’s announcement comes at a time when institutions are increasingly interested in this asset class. Several leading executives of investment firms have spoken of the potential of Bitcoin to become an investable asset. The price of Bitcoin, which languished below $ 7,000 at the start of this year, strengthened during the pandemic and recently passed its high of 2017. The cryptocurrency changes hands at $ 17,984.57, in 160% increase since the start of this year.


Source link

]]>
http://handsofkali.com/fidelity-will-accept-bitcoin-collateral-for-cash-loans/feed/ 0