Doing Business Now » Interest Rates

MASSIA proposes debt restructuring for business owners

Biz2Credit Advisor — Fri, 30 Jan 2009 06:53:40 +0000

The Marathwada Association of Small Scale Industries and Agriculture (MASSIA) has approached banks to consider a moratorium on repayment and debt restructuring, higher working capital limits, additional term loans and bills discounting or factoring.

The Association has engaged the government for assistance in reviewing non-performing MSMEs assets to overcome temporary lows and help keep the units alive.

HDFC slashes interest rates on commercial loans

Biz2Credit Advisor — Fri, 23 Jan 2009 05:32:08 +0000

HDFC Bank has decided to slash interest rates on personal and commercial loans up to 150 basis points, from Jan 19, 2009. In addition, the bank will also cut interest rates on corporate loans and wholesale credit, a positive step for small and medium businesses.

The move is a pre-emptive measure to cushion slackening auto, manufacturing and small business sales in general.

Andhra Bank reduces rates and increases working capital loans

Biz2Credit Advisor — Tue, 20 Jan 2009 05:23:22 +0000

Andhra Bank has reduced interest rates to micro businesses by 100 basis points and for small businesses by 50 basis points. The policy change will immediately apply to both existing and new loans.

The bank has also announced that they will grant need-based ad hoc working capital demand loans up to 20 percent of the existing fund-based limits for units with overall fund-based credit facility up to Rs 10 crore.

Interest rate relief for small business owners!

Biz2Credit Advisor — Thu, 15 Jan 2009 07:40:46 +0000

All 28 public sector banks have reduced interest rates. While Indian small and medium enterprises will receive a reduction of 50 basis points, micro enterprises will receive a rate reduction totalling 100 basis points in interest.