In India, Micro, Small, and Medium Enterprises (MSMEs) are the backbone of the country’s economic growth, generating employment and contributing significantly to the GDP. However, accessing credit has often been a significant challenge for such enterprises, especially for startups and small-scale businesses. This is where responsible lending plays a transformative role. At LendingKart, responsible lending […]
Key Takeaways What is a UTR Number & How To Check It? Let’s start by addressing ‘what is UTR Number’. It stands for the unique transaction reference number and the number is generated every time an electronic fund transfer is made from one bank account to another. This unique number makes it easier to
The immediate payment service (IMPS) was launched in 2010 as an alternative to the real-time gross settlement (RTGS) and national electronic fund transfer (NEFT) systems. The IMPS bank fund transfer system is unique as it combines the best characteristics of RTGS and NEFT. One of the notable features of this system is the flexible
What is UPI? UPI is an advanced version of IMPS (Immediate Payment Service) from NPCI which can also be identified as your financial address. Just like your bank accounts, this UPI remains unique to every single individual and helps you transfer and receive funds with ease and speed. The best part about this is
A current account allows individuals, professionals, and businesses to conduct a variety of everyday monetary activities. The account can be opened and administered by a single person, a group of people, or a company. In comparison to Savings Accounts, Current Accounts pay no interest and have a greater minimum account balance requirement. Current accounts
Microloans are small loans provided to low-income individuals who need access to traditional financing options. Microlenders, non-profit organizations, or microfinance institutions usually give these loans to help individuals start or grow their businesses. Microloans have become increasingly important for women entrepreneurs facing numerous barriers to accessing traditional financing. In this article, we will uncover
The rapid growth of technology led to the rise in online transactions, which are now a part and parcel of daily life. Digital payment methods let you pay your bills, shop online and transfer money to other bank accounts seamlessly and from the comfort of your own home. In this article, we will explore
