Funded Interest Term Loan (FITL)
In simple words, Funded Interest Term Loan (FITL) is giving a loan for repaying an existing loan. It’s a kind of loan restricting mechanism whereby lender would give the borrower money to repay the interest component of the loan. It is an ingenious tool recently brought out by RBI in order to tackle the growing NPA burden in India. … Read more
National Common Mobility Card (NCMC Rupay Card)
National Common Mobility Card (NCMC), is an inter-operable transport card conceived by the Ministry of Housing and Urban Affairs of the Government of India. It was launched on 4 March 2019. The transport card enables the user to pay for travel, toll duties (toll tax) , retail shopping, and withdraw money. It is enabled through the RuPay card mechanism. The NCMC card … Read more