#Cooperative bank loan for salaried employees

[fincrif]

How to Get a Personal Loan from Cooperative Banks?

Cooperative banks are an excellent source of financing for individuals looking for affordable personal loans with flexible terms. Unlike commercial banks, cooperative banks are member-owned financial institutions that primarily serve local communities, small businesses, and salaried individuals. These banks often provide lower interest rates, minimal processing fees, and easier eligibility criteria, making them a great option for personal loans.

If you’re considering applying for a personal loan from a cooperative bank, this guide will walk you through the eligibility criteria, application process, required documents, and key benefits.

1. Why Choose a Cooperative Bank for a Personal Loan?

Cooperative banks offer several advantages over commercial banks and NBFCs, making them an attractive option for borrowers. Some key benefits include:

✅ Lower Interest Rates: Cooperative banks generally offer lower interest rates (starting from 8-12% per annum) compared to commercial banks and NBFCs.

✅ Flexible Eligibility Criteria: Borrowers with moderate credit scores (550-700) may still qualify for a loan.

✅ Lower Processing Fees: The processing charges are typically lower than private banks, reducing the overall loan cost.

✅ Easier Approval for Rural & Small-Town Borrowers: Cooperative banks cater to individuals in rural and semi-urban areas, offering loans to self-employed professionals, farmers, and salaried employees.

✅ Member-Oriented Banking: Since cooperative banks are member-owned, they provide personalized service and flexible repayment options.

These benefits make cooperative banks a preferred choice for individuals who may not meet the strict eligibility criteria of commercial banks.

2. Eligibility Criteria for a Personal Loan from Cooperative Banks

While eligibility criteria may vary slightly between different cooperative banks, the general requirements include:

🔹 Age: Borrowers should be between 21 and 65 years old.

🔹 Employment Type: Both salaried employees and self-employed individuals can apply. Farmers, traders, and small business owners may also qualify.

🔹 Minimum Income: Salaried employees should have a minimum monthly income of ₹15,000 – ₹25,000, depending on the bank’s policies.

🔹 Credit Score: A CIBIL score of 600+ is preferred, but some cooperative banks may approve loans for borrowers with lower scores based on financial stability.

🔹 Membership Requirement: Some cooperative banks require borrowers to become members or shareholders before availing of a loan. A nominal fee may be charged for this.

🔹 Loan Amount & Tenure: Loan amounts typically range from ₹50,000 to ₹10 lakh, with repayment tenures between 12 to 60 months.

3. Documents Required to Apply for a Personal Loan

To apply for a personal loan from a cooperative bank, you will need to submit the following documents:

For Salaried Individuals:

✅ Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport ✅ Address Proof: Utility bill, Rent Agreement, or Aadhaar Card ✅ Income Proof: Latest salary slips (last 3-6 months) and Form 16 ✅ Bank Statements: Last 6 months’ bank statements ✅ Employment Proof: Employee ID card or employer certificate

For Self-Employed Individuals & Business Owners:

✅ Identity & Address Proof: Aadhaar, PAN, or Voter ID ✅ Business Proof: GST Registration, Business License, or Trade Certificate ✅ Financial Statements: ITR (last 2 years), Balance Sheet, and Profit & Loss Account ✅ Bank Statements: Last 6-12 months’ bank transactions

Depending on the loan amount and borrower profile, some banks may request additional documents such as guarantor details, post-dated cheques, or security deposits.

4. How to Apply for a Personal Loan from a Cooperative Bank?

The application process for a personal loan at a cooperative bank is simple and involves the following steps:

Step 1: Research & Compare Loan Options

Before applying, research different cooperative banks to compare their:

Interest rates

Processing fees

Loan tenure & repayment flexibility

Eligibility criteria

Step 2: Visit the Nearest Cooperative Bank Branch

Unlike commercial banks that offer online loan applications, most cooperative banks require applicants to visit the branch to apply in person. Some well-known cooperative banks offering personal loans include:

Saraswat Cooperative Bank

Punjab & Maharashtra Cooperative Bank

Bombay Mercantile Cooperative Bank

Janata Sahakari Bank

Cosmos Cooperative Bank

Step 3: Submit Loan Application & Documents

Fill out the loan application form and submit the required documents, including identity proof, income proof, and bank statements. Some banks may require a guarantor or collateral for higher loan amounts.

Step 4: Loan Processing & Verification

The bank will verify your documents, credit score, and income stability before approving the loan. Some banks may conduct a face-to-face interview to assess repayment capacity.

Step 5: Loan Sanction & Disbursal

Once approved, the loan amount is disbursed directly into your bank account. Loan processing can take 3 to 7 days, depending on the bank.

5. Things to Consider Before Taking a Personal Loan from a Cooperative Bank

Before applying for a personal loan from a cooperative bank, keep these factors in mind:

🔹 Check Membership Requirements: Some cooperative banks require mandatory membership, so inquire about any extra charges before applying.

🔹 Compare Interest Rates & Fees: Different cooperative banks offer varying interest rates and processing charges. Compare multiple options to get the best deal.

🔹 Understand the Repayment Structure: Some cooperative banks offer flexible repayment schedules, but others may have fixed EMI structures. Choose a plan that suits your financial capacity.

🔹 Loan Prepayment & Foreclosure Charges: Confirm whether the bank allows early loan closure without heavy penalties. Some banks charge a 1-3% foreclosure fee.

🔹 Check Processing Time: Cooperative banks may have slightly longer loan processing times than private banks and NBFCs. If you need urgent funds, consider other quick loan options.

For individuals seeking faster approval, NBFCs and private banks offer instant personal loan approvals with minimal paperwork.

🔗 Explore Personal Loan Options Here:

IDFC First Bank Personal Loan

Bajaj Finserv Personal Loan

Tata Capital Personal Loan

Axis Finance Personal Loan

Axis Bank Personal Loan

InCred Personal Loan

Is a Personal Loan from a Cooperative Bank a Good Choice?

A personal loan from a cooperative bank is a great option for borrowers looking for low-interest rates, flexible eligibility, and affordable financing. These banks are particularly beneficial for self-employed individuals, salaried employees with moderate credit scores, and borrowers in rural areas.

However, cooperative banks may have longer processing times and membership requirements, making them less suitable for urgent financial needs. If you need faster loan approval, consider applying with NBFCs or private banks that offer instant personal loans with minimal documentation.

👉 Compare & Apply for a Personal Loan Here: 🔗 Apply for a Personal Loan

By carefully evaluating loan terms, interest rates, and repayment options, you can select the best financing solution that fits your needs.

[shreecom]

Employee’s Co-Operative Credit Societies about Working Structure

Employees' cooperative credit society is beneficial to salaried employees in any organization. Which can be created by most of the Government, public and private organizations. It is the voluntary association of permanent salary earners together for common economic needs and help without any profit motive. Mainly it is the type of non-agricultural credit co-operative society. The department of this societies which have to control the financial transactions by investigating the technicalities dictated by the cooperative department. It is registered to provide loans to employees at the local organizational level and a reasonable rate of interest. These societies have to work under highly competitive situations under the trends of globalization, liberalization, and privatization. These help to benefit of employees who get regular monthly salaries. Banks cannot sanction the loan without any mortgage.

Objective and research methodology: - The objective of this society is to understand the analytical outline of the controlling structure which have to regulate the employee cooperative credit society in Maharashtra.

Working structure: - The employee's co-operative credit society is to be organized into short-term and long-term structures. The short-term structure is to be based on a three-tier structure, expected by the state in the northeast region. The second tier is District Central Co-Operative Banks are to be organized at the district level. And the third and uppermost tier is the State Co-Operative Banks state level. The state co-operative credit society banks, in turn, advance loans to the co-operative credit bank to augment their capacity and to provide loans to the employees at the local organizational level of employee’s co-operative credit society.

Regulatory framework and employee co-operative credit society in Maharashtra: - regulatory framework is necessary for any financial institution the main aim of the regulation is to safeguard the interest of a large number of shareholders and depositors and to ensure the proper functioning of the financial institution which is part and parcel of the financial system. The Employee's Co-operative Credit Society plays an important role by providing financial help to the laborers, workers, and employees.

Registration U/S-4 to 8:- Such a Society must be registered under the MSC Act. This society is to be considered at least 10 persons who are qualified members under this Act.

Norms of membership: - The person is to be a permanent employee of the respective employer and should fulfill eligibility norms.

Restrictions on Shareholding Sec, 28: - The members can hold shares not exceeding 20% of the paid share capital.

Restrictions on Borrowings U/S- 43, Rules 35 to 38: - The Society shall receive the deposit from the members and disburse the loans to members.

Deduction from Salary to meet society claim in certain cases U/s-49:-  If the employer at any time fails to deduct the amount specified in the requisition from the salary or wages payable to the concerned or makes default in remitting the amount deducted to the society, the employer shall be personally liable for the amount, and if the employer has made the deductions but the amount so deducted is not remitted to the society then such amount together with interest thereon at 1.5% rate of interest charged by the society to the member for the period commencing on the date on which the amount has to be paid to the society.

Reserved Fund U/s-66, Rules 54: - Every society can derive a profit from its transaction; however, it has to maintain the reserve fund.

 Restrictions on declaration of dividend U/s-67:- The society shall pay a dividend at a rate exceeding 15% except to the prior sanction of the registrar of society.

The loan limit and Installments: - The loan and Installments are fixed as per the bye-laws of the employee credit society.

Investment of funds section-70: - A society shall invest or deposit its funds in one or more, In a Central District Bank or State Cooperative Bank.

For such type of co-operative credit society, you will get it at Google.

Start a google search for employee Co-Operative Credit Society Software near me you will get the ShreeCom InfoTech Pvt. Ltd. Pune.

Also, they offer Co-op credit society software, pat sanstha software, pat pedhi software, Retail banking software, Employees co-op credit society software, salary earners society software, Multi-state co-op credit society software, Banking software, and Core banking software.Cooperative credit society software in Marathi Pune.

[mba-projectreports]

One Sitting-Online-Distance MBA in Rural Management

In recent time, some unconventional and distinctive MBA courses are introduced in India and MBA in Rural Management is one of them. MBA in Rural Management program is highly required by the aspiring individuals. MBA in Rural Management is attracting many aspirants and working professionals in India. Especially, because Indian economy is reliant on the agriculture and about 60 per cent of the people stays in rustic areas. 50% of our GDP is centered on the rural economy. For the further economic and national development of India, the improvement of rural and underdeveloped zones is important to reach a goal of making India a developed nation. Thus, there is a huge requirement of promoting the rural management experts who can assist in brightening up the face of countryside India and making India as one of the richest economies in the world. For these reasons the demand of MBA in Rural Management is gaining popularity. Degree: MBA/E-MBA Duration: Course Duration MBA in Rural Management is 1 year for E-MBA & 2 Years - MBA. Age Limit: No age limit Eligibility: A graduation degree. Work Experience can be an add-on Fees:  Fees range from approx. Rs.100,000/- to Rs.350,000/- depend on the university (fees changes) Salary/Income: With an MBA degree in Rural Management, candidates can get jobs in the Rural/airlines sector offers rewarding pay and has good job growth. Starting Salary for an MBA in Rural Management Graduate is around Rs.6 lacs yearly. The salary is possible to grow up to 15 lacs and more with the number of years of work experience achieved. Internationally, you can earn a minimum around $80,000 annually. Recognition : MBA from UGC recognized Universities & applicable for Government Jobs, Jobs in Corporate companies, Overseas Jobs, Internationally recognized qualifications, applicable competitive exams like UPSC, MPSC, Govt Bank Jobs etc. Benefits of MBA in Rural Management:  A Distance MBA has an equal value as a full-time MBA has because ultimately both of these courses offer you a University recognized degree which is acceptable across all industry. The best part of this course is that there are numerous government jobs opportunities are available for Rural Management professionals. Numerous MBA universities and colleges have begun offering Rural Management programs. MBA in Rural Management is one of the highly paid MBA specializations.  There is an enormous potential for career growth with this specialization. This course is available through distance mode. MBA in Rural management will bring huge number of job and career opportunities for candidates. The Rural industry is witnessing a exceptional growth and as result, it provides lucrative pay packages to the public and private sector employees. Employment/Job/Roles/Post: An MBA with an Rural Management specialization offers challenging opportunities and responsibilities in rural development organizations. It trains students for rural management responsibilities.  After perusing an MBA degree in Rural Management, candidates becomes experts to plan, organize, and controlling cooperatives in the agriculture and rural development sector. There is a huge requirement for rural management experts who understand the development needs of the rural areas and in the efficient use of rural resource. Top organizations in the government and private sector are aiming to hire MBA (Rural Management) graduates for important managerial positions. Graduates in MBA in Rural Management can get highly paid jobs. Some of the job profiles are Sales/Business Development Manager, Rural Development Officer, National Sales Development Manager, Business Development Executive, Purchase/Vendor Development Manager, Sales Officer, etc. Government and private sector organizations and MNCs Tata Teleservices, Insurance Companies, Academic Institutions, Research & Consultancy Firms, Rural and Agriculture Financing, Banks, Finance Institutions, ICICI Bank, Amul, Shriram Group, Greenpeace India, Mother Dairy, Mart Rural, CRY, Agriculture Finance Corp. etc. hire MBA in Rural Management graduates. About MBA in Rural Management: MBA in Rural Management is a program that targets to provide knowledge and expertise about certain subjects, skills, and unconventional ethics required for the development of a rural area but also executes the policies and techniques needed to achieve them efficiently. MBA in Rural Development is a highly demanded program in the management sector. it incorporates the execution of management rules and principles in the rural sector for developing the rural social life. MBA in Rural Management degree holders can make a very satisfying career in Rural Development and Management. Syllabus and Subjects for MBA in Rural Management: An MBA in Rural Management is particularly designed for working professionals and students who are searching for a high positioned administrative job in the rural management sector. An MBA in Rural Management remarkably combines theoretical and practical aspects of rural development and management. MBA Rural Management includes the subjects such as Business Laws, Industry and Agri-Business, Management of Animal Husbandry & Aquaculture, Environment and Natural Resource Management, Rural Infrastructure, Organizational Effectiveness, Watershed Management, Strategies for Sustainable Rural Development, Precisions Farming & Horticulture etc. Who should do MBA In Rural Management: An executive MBA Marketing degree is a great option for students and working professionals in Government and corporate sector. Since the Indian GDP and Rural development is rapidly growing, the huge demand of MBA In Rural Management degree holders has risen.  As of now, talented Rural Management professionals are needed in Government and corporate sector. This course is one of the best options for the aspirants who are searching for high positioned administrative job in Rural development sector. Other Similar Courses:  Rural Management courses are offered as the executive course. These courses are offered under the levels of MBA, BBA, PGDM and Various Certificate and Diploma courses in Rural Management are available. Candidate Support:  We provide academic support & guide to the candidates by preparing short notes, solving assignments, making project reports in Rural Management, thesis, dissertation etc. & make sure that candidate passes all semesters and gets an MBA degree. Education Loan Assistance:  We can provide assistance for an educational loan to the candidates who are applying for the executive courses. Contact Us & Talk to our Counsellor for further details & the admission process. WhatsApp/Phone: +91 80970 27355 Office Address: 450, Mastermind One - IT Park, Royal Palms, Aarey Colony, Goregaon(E), Mumbai, India - 400065. Visit our website:  www.mbaprojectreports.com

[talabib]

How To Destroy Silos Both At Work And In Your Own Mind.

Ever since the dawn of industrialization, specialization has been a key concept in making a company more effective and profitable. By breaking down a process into smaller units, and training workers to perform highly skilled and specific tasks, a company can produce better products faster.

Yet as you’ll see, division and departmentalization can go too far, having devastating effects on a company’s creativity and flexibility. But the problems are even bigger than that. Silos are in our heads just as much as in our companies. It’s time to destroy them for good.

Lets show you how and why we build silos in the first place, and explain just how you can take action to modify them for the better, if not break them down altogether.

Silos cause major communication problems.

A silo is more than just a physical structure. These deep, narrow columns exist metaphorically not just in social circles but also in our minds – and they are harmful for many reasons.

Silos in an organization effectively discourage people from working together. In New York City, various government departments were like silos, to the extent that even the fire department and emergency call operators – two groups that need to talk to each other – couldn’t even tune their wireless communications to the same frequency.

New York City Mayor Michael Bloomberg at the time made it a top priority to better connect various departments. He also pushed for open office spaces, and ensured that the fire department, the finance department and the police investigations department shared data so that his administration could better predict the risk of fire in city-owned buildings.

While it’s certainly logical to share data and cooperate within a large organization like a city administration, it’s still a challenge. People tend to live and socialize within silos, choosing to stay within particular groups, usually made up of people who are similar to us.

We’re also encouraged to specialize as the business world becomes more complex. We value the opinions of experts, for example, even though they work with others in their fields' “silos.”

These sorts of specialized silos do have positive aspects, too. Silos help us organize our social lives, our workplaces, our economic systems and institutions, and lead to greater accountability.

But this increased accountability is a part of the problem, especially in the workplace. When teams are only accountable for their particular part of a project, they can become competitive or restrictive about data, wasting resources or worse, miscalculating risks.

Silos can cause competitive struggles

To come up with new ideas, people need space to be creative, freely exchanging ideas with other people from different disciplines. Silos, however, discourage all of this.

Most large organizations are divided into silos that work independently, making it difficult for silos to collaborate or efficiently communicate.

As one example, Japanese technology giant Sony was once a leading international firm, with revolutionary products sold all over the world. Today, however, the company is a shadow of its former self. What happened?

Sony lost its creative drive after it grew too large. Founded just after World War II, Sony was at first a small, dynamic firm. In the early 1990s, new leadership decided to manage company growth by subdividing its divisions into self-sufficient, specialist units: silos.

This was in line with a prevailing trend at the time. Companies were seen as collections of smaller, separate businesses, each with their own balance sheet.

Yet this shift made the separate departments less willing to take risks, as they now had more responsibility. It also hindered communication between departments.

This is why in 1999, Sony launched three different gadgets that played digital music. Each device was based on a different standard, as each was produced by a different division of the company. Sony was effectively competing against itself!

It’s very difficult to restructure a company once silos are in place. Sony tried to fix the problem by hiring Howard Stringer, the company’s first CEO who wasn’t originally from Japan. When Stringer told the board the company had too many silos, his translator struggled as there was no word for “silo” in Japanese.

The team eventually began referring to silos in Japanese as “octopus pots.” An octopus pot is essentially a silo, a narrow column that an octopus can get into, but can’t escape from. This image helped employees understand the concept of silos – but organizational issues still remained.

“Tunnel vision” within silos was one of the main issues leading up to the 2008 financial crisis.

It’s dangerous when one department in a company doesn’t know what other departments are doing. This creates problems, such as the inability to correctly assess business risks. The Swiss financial services company UBS learned this the hard way during the 2008 financial crisis, when one of its silos caused the company’s downfall.

Earlier in 2005, the company created a new department for securitizations, a highly specialized market in which mortgages were packaged as bonds and traded. While the department was small, its financial activity was enormous; the bonds too held an AAA credit rating, the highest level.

However, when the crisis hit, those bonds were no longer considered a safe investment. Suddenly no one wanted to buy them; and UBS incurred huge losses.

UBS could have avoided this situation if its separate departments had shared more information, but its staff across different silos had no incentive to do so; their salaries depended only on the performance of their own departments.

In the end, UBS lost over $10 billion because of one silo located in its US branch, which executives at the company’s Swiss headquarters hardly even knew about.

Silos also make it hard for economists and regulators to accurately assess the workings of the global economy. This was crucially the case with the appearance of new financial entities that didn’t fit old classification systems. These new, highly capitalized companies weren’t banks, as they didn’t take deposits or make loans; they weren’t hedge funds, as they didn’t officially invest in risky assets.

As a result, these twenty-first century financial entities were just considered “other financial corporations,” slipping through both the naming and regulatory cracks.

Which is one of the many reasons why the 2008 financial crisis was so brutal and so abrupt. Industry types were focused only on their own silos; and within each silo, the world was rosy. The silos encouraged “tunnel vision” and prevented anyone from seeing the growing market risks.

Destroying silos can help beat crime and corner the market

Silos aren’t just inside your company, they’re also inside your mind. That’s why silo-busting starts with you. If you’re a trained computer expert, for example, this speciality probably affects your social and cultural silo. You can break this silo down by sharing your expertise with other fields.

Personal silo-busting means interacting more with people who are different from you, both socially and professionally. Brett Goldstein, a trained computer expert from Chicago, decided after the 2001 terrorist attacks in New York to work with Chicago police. He used his skills to analyze Chicago’s murder statistics, as teams across different districts weren’t sharing information to accurately follow changes in gang behavior.

Goldstein’s skills helped police better predict the possibility of gang conflict escalating to killings. He helped to break down silos in the police force while at the same time, breaking down his own.

Interestingly, more often than not police organizations as well as the US Federal Bureau of Investigation (FBI) are prone to overusing silos. It’s possible that if different security agencies had communicated better about the activities of al-Qaeda operatives, 9/11 may have been avoided.

There’s another important benefit of silo-busting, in that it can earn you a lot of money. The hedge fund Blue Mountain Capital came up with an effective silo-busting strategy. The fund analyzed different markets to see when major investors through their activities were creating distortions in market prices, then bet against them.

The fund knew that silos within banks often incentivize traders to do things that might make sense on a micro-level, but often don’t benefit the bank as a whole. Thus traders within bank silos sometimes work too much within one market, creating market price distortions.

So Blue Mountain Capital kept an eye on market giant JPMorgan as in 2012 it went deep into highly volatile credit default swaps, and proceeded to lose billions in the process. Blue Mountain zigged while JP Morgan zagged, and in the process, earned itself a ton of cash.

Special gatherings and competitions can help destroy silos

Not every company is a mute collection of silos. Social media giant Facebook, for example, has been quite successful in avoiding the creation of impermeable silos within the company while still harnessing the advantages of concentrated, specialized work.

All new Facebook employees go through the same six-week course known as boot camp, no matter their rank or department. They all learn the same information, work together and get to know each other. The boot camp experience creates long-lasting bonds that remain, even when employees go off to their separate units.

Facebook also holds weekly meetings and hosts social events to make sure employees keep interacting and sharing with each other. The company strives to maintain the positive aspects of silos by keeping separate teams that have the freedom to collaborate and work creatively, while not allowing the company to fragment too much.

Facebook also has a program called Hackamonth, a way to shake up unproductive silos. After an employee spends one year working on a project, he joins a different team for about a month. About half of reassigned employees stay with their new teams and the rest return to their previous positions.

Sure, a Hackamonth costs money and time, but it keeps the company interconnected and allows more ideas to flow, fostering creativity too!

Facebook also knows that separate teams in large companies often fall into competing with each other. That’s why it holds hackathons about every six weeks. In a hackathon, several hundred engineers gather in a small space for one night and focus on coding-related problems. As an added twist, hackathon participants never collaborate with the same colleagues they usually work with.

Despite all these efforts, there’s still a danger that Facebook could become one giant silo of its own. Only the introduction of new people and new ideas can prevent this.

Organizations can break down silos by re-examining classification systems and job boundaries.

When you go to the hospital, you know what hurts – but you don’t necessarily know which kind of doctor you might need to make the pain go away.

One of the biggest and most renowned medical centers in the United States, the Cleveland Clinic in Ohio, took seriously the idea of breaking down silos and revolutionized itself in the process.

CEO Delos Cosgrove measured progress mostly in technical and economic terms until he heard that patients were choosing less-qualified clinics over the Cleveland Clinic because they felt clinic doctors weren’t personal or empathetic enough.

So Cosgrove started silo-busting by asking patients what they valued, and learned that personal service was very important to them. He then re-examined how the clinic ran as well as its approach to medicine in a broader sense. He began to question the classification system medical professionals used to assess their field.

The Cleveland Clinic’s restructuring wasn’t just about mental reorganization, either. It also broke down the distinction between nurses and doctors by calling both “caregivers” and created new, multidisciplinary institutes that focused on certain body systems, like the Head and Neck Institute.

These new institutes connected surgeons and physicians from different fields, a revolutionary step. Prior to this, a cardiac surgeon for example had never worked with a cardiologist!

The Cleveland Clinic’s reorganization was possible because its employees received fixed salaries, which is unusual in the United States. The clinic still maintained a hierarchy and different salary groups, but the stability in pay allowed different physicians and surgeons to collaborate in new and important ways. Ultimately, the clinic restructured itself to suit a patient's needs, not the institution's needs.

Humans have developed silos as a natural response to the increasing complexity of the world. Though they have their benefits, silos often blind us to risks and stifle our creativity. So we need to engage in silo-busting, both in our own minds and in society, too. When people from different silos come together and collaborate, they can produce great innovations.

[royaltyhomes]

DID YOU KNOW YOU CAN EASILY ACCESS MORTGAGE IN NIGERIA? WHAT IS MORTGAGE? • Mortgages Are Used By Individuals And Businesses To Make Large Real Estate Purchases Without Paying The Entire Purchase Price Up Front. Over Many Years, The Borrower Repays The Loan, Plus Interest, Until He Or She Owns The Property Free And Clear. .* BREAKING DOWN OF MORTGAGE • In A Residential Mortgage, A Home Buyer Pledges His Or Her House To The Bank. The Bank Has A Claim On The House Should The Home Buyer Default On Paying The Mortgage. • In The Case Of A Foreclosure, The Bank May Evict The Home's Tenants And Sell The House, Using The Income From The Sale To Clear The Mortgage Debt. WHO IS QUALIFIED FOR MORTGAGE Basically The Following Categories Of Persons are qualified to access mortgage; - Civil Servant & Government - Employees - Cooperative Societies - Multinational Employees - Military Personnel - Custom Personnel - Army Personnel - Para-Military Personnel - Companies Employees whose company are registered with NHF and with good cash flow - Any business person with CAC registration certificate - All Nigerians who are willing and desirous to pursue it. NOTE: Anyone From 21 Years And Above With A Source Of Income And Desirous To Own A Home Of His Or Hers MORTGAGE YEARS ANALYSIS/START UP AGE /YEARS OF MORTGAGE ALLOWED ▪︎21 - 25 Years (29 Years Spread) ▪︎30 Years (24 Years Spread) ▪︎40 Years (19 Years Spread) ▪︎50 Years (9 Years Spread) ▪︎55 Years (4 Years Spread) NOTE: To Enjoy Mortgage, Age Is Also A Major Criteria Because The Younger You Are The Advantage Of Mortgage Favors You As Long As You Are Still Within Your Productive Ages To Pay Back The Mortgage. DOCUMENTS REQUIRED Some of the documents you will be required to submit at the Mortgage Bank include: •Identification Card •Loan application letter and completed form •Reference letter from main bank/salary account •Appointment letter/Last promotion letter •Pay slip for minimum of 6 months •Passport photographs Evidence of Equity Etc. Once the mortgage bank has all the documents required from you, it takes few weeks or months for the loan to be disbursed. #championspod1 #ʇɓuɹɐɯnɥʇdɐH https://www.instagram.com/p/CMSrrkLhFY1/?igshid=8lzeedf60l0

[orbemnews]

Europe’s Bankruptcies Are Plummeting. That May Be a Problem. PARIS — Romain Rozier’s cafe should be bankrupt by now. Since the coronavirus hit last spring, sales at the once buzzing lunch spot in northern Paris are down 80 percent. The only customers on a recent day were a couple of UberEats couriers and a handful of people spaced far apart at the counter, ordering takeout. “We’re at death’s door,” Mr. Rozier said, tallying the 300 euros ($365) he had made from the lunch shift, well below the €1,200 he used to pull in. “The only reason we haven’t gone under is because of financial aid.” France and other European countries are spending enormous sums to keep businesses afloat during the worst recession since World War II. But some worry they’ve gone too far; bankruptcies are plunging to levels not seen in decades. While the aid has prevented a surge in unemployment, the largess risks turning swaths of the economy into a kind of twilight zone where firms are swamped with debt they cannot pay off but receiving just enough state aid to stay alive — so-called zombie companies. Unable to invest or innovate, these firms could contribute to what the World Bank recently described as a potential “lost decade” of stagnant economic growth caused by the pandemic. “We need to get off of all of these subsidies at some point — otherwise, we’ll have a zombie economy,” said Carl Bildt, co-chair of the European Council on Foreign Relations and a former prime minister of Sweden. Bankruptcies fell 40 percent last year in France and Britain, and were down 25 percent on average in the European Union. Without government intervention, including billions in state-backed loans and subsidized payrolls, European business failures would have almost doubled last year, according to a study by the National Bureau of Economic Research, a private American organization. At the Commercial Court of Paris, Judge Patrick Coupeaud, who has handled bankruptcy cases for nearly a decade, sees the difference. “I have about a third fewer people coming to me, because many troubled businesses are being helped by the state,” he said, gesturing to the court’s nearly empty colonnaded marble halls. By contrast, Chapter 11 bankruptcy filings in the United States rose in the third quarter to the highest level since the 2010 financial crisis, a trend that is expected to continue in 2021, according to an index compiled by the U.S. law firm Polsinelli. President Biden has proposed a new $1.9 trillion rescue package to combat the economic downturn and the Covid-19 crisis, and last week, the government reported that 900,000 Americans had filed new unemployment claims. Those statistics are shaping a debate over whether Europe’s strategy of protecting businesses and workers “at all costs” will cement a recovery, or leave economies less competitive and more dependent on government aid when the pandemic recedes. “Parts of the misery have only been delayed,” said Bert Colijn, chief eurozone economist at the Dutch bank ING. He added that there would be “a catch-up in bankruptcies” and a spike in unemployment whenever support measures were withdrawn. Analysts say the government programs are already seeding the economy with thousands of inefficient businesses with low productivity, high debt and a high prospect of default once low interest rates normalize. An estimated 10 percent of companies in France were saved from bankruptcy because of government funds, according to Rexecode, a French economic think tank. Letting unviable businesses go under, while painful, will be essential for allowing competitive sectors to thrive, said Jeffrey Franks, the head of the International Monetary Fund’s mission for France. Updated  Jan. 24, 2021, 8:21 p.m. ET A wave of bankruptcies “is not something that’s necessarily so bad,” he said. “It’s part of the normal creative destruction process of regenerating economies.” The Organization for Economic Cooperation and Development is urging governments to fine-tune their support measures to ensure a revival in growth. “Failure to do so could hinder the recovery by trapping resources in nonproductive ‘zombie firms’ and jobs,” the organization said in a recent assessment. Most European governments planned to end support last autumn, figuring the coronavirus would be under control. But a second wave of cases has filled hospitals, followed by faster-spreading variants of the virus, all leading to extensions in aid. The European Union late last year approved a recovery package worth €2 trillion. In France, the investments are seen as a way of buying social stability by preventing mass unemployment. The finance minister, Bruno Le Maire, has pledged to maintain the support “as long as the crisis lasts,” a strategy that he described as adding “spirituality” to the economy. Almost no businesses are being left out of the largess if they lobby hard enough — not even French escargot farmers, who recently won a battle for limited financial aid while restaurants that are their main buyers stay closed. As governments’ Covid debts skyrocket, European fiscal rules have been suspended. France is among several countries declaring that they don’t plan to pay down the enormous bill until the economy has mended. For now, financial aid is preventing the collapse of many once-healthy firms whose main misfortune was the pandemic. At the Paris Commercial Court, Judge Coupeaud said the measures had helped avoid a domino effect by encouraging businesses to use state-backed loans and other aid to pay suppliers and debts. France’s bankruptcy system is unlike those in other countries, in that it encourages troubled companies to come forward before default and offers help in negotiating with creditors. “Failure is not a word that the French like to use,” said Dominique-Paul Vallée, the judge at the court in charge of helping business owners avoid bankruptcy. “We prefer to say we are saving companies.” He added that there had been a sharp rise in firms going to him for help. Those that did file for bankruptcy protection in 2020 tended to be big companies with large work forces, such as the retailer Camaïeu, with 3,900 workers, and Alinea, a furniture maker with 2,000 employees. That was a shift from the small and medium-size business cases that the court typically hears. Still, the safety net extends only so far. Countless businesses face mounting debts, declining profitability and a limited capacity to invest the longer the pandemic lasts. Mr. Rozier is a case in point. He started his organic-themed cafe, Make Your Lunch, in 2016 in a bustling business and cultural district. The concept was so successful that he opened a second cafe near the high-traffic Paris Opera. After the pandemic hit, business plunged as offices that housed thousands of workers stood empty and remained largely unoccupied most of the year. The government helped pay the bulk of his employees’ salaries, and Mr. Rozier got a low-interest €30,000 state-backed loan with payments deferred until May, which the government last week extended for a year. After a new national lockdown in October, restaurants like his got an additional €10,000 a month in direct aid. But that money hasn’t made up for months of lost sales. “My treasury is drained,” said Mr. Rozier, who sold his cafe near the opera in the summer and spent much of the government loan paying off suppliers. With 80 percent fewer clients, he is three months behind on his €4,000 monthly rent, and he struggles to pay social security taxes, electricity and other expenses. The government allows restaurants to offer takeout only. Mr. Rozier has become an unofficial spokesman for restaurant owners who demand that the government let them seat patrons again, with social distancing, to survive. After the New Year’s holiday break, he said, his morale slumped when he reopened the business. “I waited. And I waited. And three people came in the door,” Mr. Rozier said. “At this point, there is a real danger I will have to close within a couple of months,” he continued. “I’d rather sell the business than have to go to bankruptcy court.” Two of his friends, also restaurant owners, have already declared bankruptcy. “There are many more that will follow in their footsteps,” Mr. Rozier said. “That we know for sure.” Antonella Francini contributed reporting. Source link #Bankruptcies #Europes #Plummeting #Problem

[radhikaschauhan]

Income Tax Slab Rates For FY 2019-20/AY 2020-21 Interim-Budget 2019-20 Key Highlights

The Act of income tax makes it compulsory for all the citizens of India and business firms to pay income tax. They are liable to pay the tax if their income is above the tax slab’s minimum income. Tax Payers can avail of the benefits of the tax under several sections of the income tax act. If taxpayers checked their tax slab and planned at the right time, it will help them add more money to their deposits. So at first, you all have to know that what is Income Tax Slab?

Income Tax Slab

As an individual, everyone works hard to grow their incomes with time. If you are a salaried individual of government or non-government or a businessman in India, then you must have to pay the tax according to the total income tax slab rate that how much you will learn in a Financial year. According to the annual income, all the individuals are categorized within a system that every individual should have to pay tax accordingly to their income tax slab rates. In the tax slab, different tax is levied on different incomes. Furthermore, the income tax slab rates are rectified, improved, and may change during the central government’s budget sessions held every year. But during the central government budget session 2019, they announced no changes in the income tax slabs for the Fy 2019-2020.

In Terms Of The Age, Taxpayers Fall Into Three Categories:-

Any individual (resident or non-resident) is of fewer than 60 years on the last day of the relevance.

Senior citizens of India belong to the age group of 60 years to 80 years during the previous year.

Super senior citizen is a resident of India and has 80 years or more during the financial year.

Income Tax Slabs For Individuals Within 60 Years Of Age For FY 2019/2020

For your better understanding, look at an example:-

Let Mr.X is 42 years old and has an annual income of Rs. Seven lakh. How much income tax he has paid?

According to the income tax slab:-

Income tax on Rs 2.5 lakh is Nil so tax payable is 0

Income tax on Rs 2.5 lakh to 5 lakh is 5% , (5 lakh – 2.5 lakh) = 2.5 lakh

So tax payable is 12,500

Income tax on Rs 5 lakh to 7 lakh is 20% , (7 lakh – 5 lakh) = 2 lakh

So tax payable is 40,000b

Total income tax is ( Rs 0 + Rs 12,500 + Rs 40,000)

= Rs 52,500

Plus cess of 4% on Rs 52,500 = 2,100

So Total income tax payable Rs = 52,500 + 2,100

= 54,600

The income tax act, 1961, also allows for deduction under section 80(C) and 80(U). So for that case, tax is calculated after considering such deduction and cess added to arrive at the local tax payable.

Income-Tax Slab For Senior Citizens Aged Between 60 to 80 Years For FY 2019/2020

 Like the previous point here also if someone’s income is 7 lakh in a year, he or she has to pay income tax Rs 54,600, but if someone between the age group 60 to 80 earns 3 lakh, then he or she don’t have to pay any tax that is a difference between the 1st and 2nd point. Where below 60 ages have to pay tax when the income goes 2.5 lakh but not for the age group between 60 to 80. They have to pay tax only when their income comes to 3 lakh.

Income Tax Slabs For Super Senior Citizens Aged Over 80 years:-

From these three points, everyone will get a clear idea about the income tax slab, and with the example which we described, every point would be cleared for everyone.

Some points which are related to the above income tax slabs you must have to know:-

The income tax slabs and rates for the financial year 2019-2020 are the same for both men and women.

If someone’s income lies in the tax slab of a maximum of 5 lakh rupees, then you will be available for the full tax rebate under section 87A.

The rates which we mentioned above of the income tax slabs do not suppress the cess and surcharge.

So now we will discuss the surcharges applicable for resident individuals:-

For the financial year, 2019-2020 new surcharges have also been put on for the rich. Here is a table for your understanding:-

Income Tax Slabs For The Other Entities For FY 2019/2020

Now we are going to discuss the other entities’ income tax slab –

1. For The Domestic Or Civil Companies-

For a domestic or civil company, the tax will be applicable for a given FYreclaineson the gross annual turnover which earned in the previous year –

According to the budget session’s announcement, the introduction of income tax slab 2019-2020 takes the new gross turn over Rs 400 crore limit for the purpose. Also, a surcharge will be applied if the income lies between 1 crore to 10 crores. And for the above 10 crore surcharge applies to 10%. With the health and educational cess of 4%.

2. For The Partnership Firms And LLP(Limited Liability Partnership)

There are no alternative income tax brackets for the partnership firms and LLPs as the total income is taxable at the rate of 30%. The surcharge levied on forms falls into two categories mentioned below –

If total income is between 1 crore to 10 crore, then the tax will be calculated at 7%.

And above 10 crores, the tax will be calculated at 12%.

With the health and education cess of 4%.

3. For the Cooperative Society:-

The income tax slab rates for the cooperative societies are given below in a table-

And also, a surcharge applies to 12% if income is above Rs 1 crore.

4. For Local Authorities:-

 The local authorities, which they will earn, are also taxable, but there are no slab divisions. They are taxed at a flat rate of 30%, and a surcharge is also applicable if the income exceeds Rs 1 crore. With the health and Educational cess of 4%.

How To Increase Your Savings From The Income Tax For The Financial Year 2019-2020:-

It is an essential thing to know about the income tax slabs. It not only tells you about the tax slabs but also prepares you for various tax-saving investments.

Depending on the income tax slab for the assessment year 2020-2021, you can increase your savings and get the benefits of tax-saving investments. Many taxpayers, for their delaying tactics, they will get the results in a failing of saving tax. Investment in tax saving schemes and using a tax calculator wisely will make your total annual income fall into a lower tax bracket.

With exact planning for the AY’s income tax slabs, 2020-2021 gets deducted from the gross total income. If you have to know more details about it, then you can hire a professional.

1. Buy Life Insurance Or Health Insurance

It is important to have life insurance for providing financial security for your family. The donation you pay on your life insurance policy which is applicable for the deduction under section 80C. The health insurance will save your families from the unexpected financial impose that may arise in accidental purpose. Under section 80D, the donation you will pay in any mode except cash to defend your family partners. Then transmitted is available for a deduction of 25,000 maximum and 50,000 for the senior citizens.

2. Submit Rent Receipts

If you don’t have your own home and live in a rented house and get HRA from the employer, you will get a deduction under deduction 10(13A). You have to calculate and stop at the maximum rent that you can save under this section. The exemption will be based on the following factors : i. If you pay any home rent ii. If you receive HRA from the employees. iii. 50% of your salary if you live in a metropolitan city and 40% if you live in a non-metropolitan city.

3. In Case If You Give Any Charitable Donations

If you give any premium to the relief funds and charitable society, you will also be available for the deduction under section 80G. You have to calculate how much you can donate and make your income fall into a lower tax bracket.

4. Higher Education Loan For The Child

If you take an education loan to pay for your child’s higher education, then you can claim a deduction under section 80E. You can make available the deduction benefit for a maximum of 8 years or the time you will pay the interest for your loan.

5. A New Home Through Home Loan

If you take a home loan to buy a new home or build a new home, you will also be available to deduce up to 2 lakh on the loan interest paid during the FY. Also, you can take advantage of a tax calculator to find more things about this.

Frequently Asked Questions

1. How will the government collect income tax?

Tendentious payment which is made by the taxpayers into nominated banks as per their tax brackets. TDS( tax dedicated source) from an individual’s income source. TCS ( tax collected at source)

2. How is taxable income different from exempted income?

As per the income tax act, you will get the benefits of subtracting your total earnings in an FY. So your rescued income is the one from which you don’t need to give any tax. On the other side, taxable income from the ultimate part of your total earnings will throw out the rescued income; then, you have to pay the tax, depending on the tax liability as per the income tax bracket.

3. Who must have to pay the income tax?

Every Indian the citizen must have to pay tax as per the income tax slabs. It is our responsibility to pay the tax on time. Also, Hindu undivided families, firms, LLP, any companies, and the local authorities have to pay tax as per the income tax bracket.

4. Is filling income tax necessary if a person’s annual income is less than Rs 2.5 lakh?

No, you don’t have to pay tax if your annual income is less than 2.5 lakh. However, you can file a Nil return for that purpose.

5. Who is eligible to avail of the rebate under section 87A?

Any resident individual with a total amount of income less than 5 lakh can claim the tax deduction under section 87A.

6. Is it necessary to maintain all records or proof of the income?

While you pay the tax and filing the income tax return as per the tax slabs, you must have to maintain all proof of your income from several sourceifase you failed to den you need some reasonable records that may support your income declaration.

7. Do I get any benefit from filing ITR on time?

Paying tax on time is your contribution to the countries development. The ITRs you will fill as per the income tax bracket will support your creditworthiness, making you compatible with getting a bank loan to achieve so many goals you dreamed of.

  Via http://invested.in/income-tax-slab-rates-for-fy-2019-20-ay-2020-21/

source https://investedin.weebly.com/blog/income-tax-slab-rates-for-fy-2019-20ay-2020-21-interim-budget-2019-20-key-highlights

[shreecom]

New Rules in the Banking Sector

Banking services must include accepting deposits, lending money, facilitating transactions, and offering various transaction products such as saving accounts, loans, and credit cards. Mainly bank is a type of financial institution that is permitted to accept customers' deposits and provide a loan. There are such types of banking sectors as Retail banks, Commercial banks, corporate banks, cooperative banks, Regional rural banks, central banks, and investment banks.

Why Banking sector is good?

Checking and saving accounts, loans, mortgage services, wealth management, providing credit and debit cards, and overdraft services, are the most important banking services in the banking sector.

How does the banking sector work?

The customers deposit their money in banks, and then banks lend the money in different loans like car loans, credit loans, business loans, home loans, etc. the loan recipients spend the money they borrow, then the banks earn the interest loans, and the process keeps money moving through the systems.

The rules of banking sectors:

Demat account holders' nomination declarations:

Demat account holders will have to provide nomination declarations or opt out of nominations by January 1, 2024. Account holders failing to do so will not be able to transact in stocks. Earlier, the deadline to furnish nomination details was September 30.

Aadhaar Card:

Aadhaar card holders wanting to change their details will be able to do so till December 31, 2024. However post this date, an amount of Rs 50 will be imposed on those wanting to change their personal details in the Aadhaar card.

KYC for SIM card:

All KYC-related work will be done in digital mode only. People applying for new SIM cards will not have to fill out paper forms for the Know-Your-Customer process.

 Bank locker agreement:

People holding lockers in banks will have to sign the revised agreement by December 31, 2023. If customers will fail to do so, their lockers will be frozen.

New rule to save users from online fraud:

As smartphone usage has unscaled in India, online fraud and scams have unscaled and have seen a parallel increase. The government has been taking a decisive stance to curb these issues.

Legal consequences for fake SIMs:

As per the new Telecommunication Bill, individuals who will be found purchasing fake SIM cards will be facing severe consequences and the offenders will further be subjected to a jail term of up to 3 years and a fine worth Rs. 50 lakh.

Mandatory biometric details for verification:

Telecom companies will now collect biometric data which will be mandated for every customer who is purchasing a SIM card. The inclusion of biometric details is a measure to safeguard fraudulent SIM card transactions and ensures strict action against the offenders.

Income Tax Return:

People will not be able to file Income Tax Returns (ITR) for financial year 2022-23 from January 1, 2024. Those who have not filed ITR for 2022-23 can file them with penalty fee till December 31.

Inactive UPI IDs:

The National Payments Corporation of India (NPCI) in a circular dated 7 November, has asked payment apps and banks to deactivate the UPI IDs and numbers that have not been active for more than one year. Every bank and third-party app has to follow these till 31st December.

UPI transaction limit hiked for hospitals, schools.

Deactivation of inactive UPI IDs.

UPI Lite wallets transaction limit increased.

No authentication for UPI auto payments.

Interchange fee on UPI merchant payments.

Google Pay:

The Gpay limit per day for money transfers for users in India is ₹1, 00,000. Moreover, the maximum times you can send money in a day cannot exceed 10 in Gpay or any other UPI app.ShreeCom Infotech Pvt. Ltd. Pune offering different types of banking sectors software’s like Co-Operative credit society software, core banking software, Retail banking software, SMS banking software, Pat pedhi software, Employees co-op credit society software, salary earners society software or you can google search for banking software near me

[phgq]

170 modern jeepneys to ply Cebu City routes

#PHnews: 170 modern jeepneys to ply Cebu City routes

CEBU CITY – One hundred and seventy modern jeepneys called “PeoplesJeep” will ply the city streets with the initial 70 units already servicing various routes here.

One hundred units are still waiting for the approval of the Land Transportation of Public Route Plan (LTPRP) specifically for the cities of Cebu and Mandaue.

Of the 70 units already in operation, 10 are being used as shuttle buses for the employees of the Cebu-based transport cooperative, Cebu People’s Multi-Purpose Cooperative (CPMPC), one of the biggest and multi-awarded transport cooperatives in the country.

CPMC chief executive officer Macario Quevedo said in an online interview on Friday that the coop launched and inaugurated these modern jeepneys last Aug. 15 in response to the government’s transport modernization program.

“We are one with the government in its goal to modernize the public transportation industry in the country, particularly in Cebu. The Department of Transportation (DoTr) has eyed to gradually replace old jeepneys with new units to reform the public land transport industry,” Quevedo said.

He said that these new units of air-conditioned jeepneys will soon ply the different routes in Metro Cebu but presently, 12 units of “PeoplesJeep” are plying the Talamban to Colon area.

The CPMC is hiring at least 300 new drivers in preparation for the new routes that will soon open in Metro Cebu.

He said the units have air-conditioning systems and foam seats to give passengers a comfortable ride.

They are also equipped with the required closed-circuit television (CCTV) camera for security purposes. These modern public utility vehicles (PUV) are powered by environmentally-compliant Euro 4/5 diesel engines, significantly reducing their carbon and sulfur emissions.

Fare payment is easy and convenient with the implementation of the Automatic Fare Collection System (AFCS), which is required under the PUV modernization program of the government, Quevedo said.

The Durabus Zhongtong Class 2 modern jeepneys are compliant with the Department of Trade and Industry’s Philippine National Standards. They feature a global positioning system (GPS), speed limiter, front and rear cameras, and indoor TV for entertainment. CPMPC has partnered with Beep Cards operator AF Payments Inc., which is the leading AFCS provider in the country, he said.

“Our acquisition of these new units of modern PUVs is our response to the government’s call for a massive industry-wide transport modernization providing efficient, safe and comfortable public transportation to the riding public while at the same time promoting pro-environment initiatives for a cleaner and better tomorrow,” Quevedo said.

The state-run lenders Development Bank of the Philippines (DBP) and Land Bank of the Philippines (LBP) have specialized loan financing programs that aim to help transport corporations and cooperatives acquire modern and environment-friendly jeepney units, he said.

Quevedo said the program has significantly benefited drivers as they now receive monthly fixed salary and other benefits. A transport cooperative ideally manages the PUV fleet management and distributes the monthly income to its owners and drivers.

“We thank our partners, our funding institutions in government, government regulators and our transport operators for this new milestone of our cooperative,” he said.

PeoplesJeep is a transport service operation owned and operated by Cebu People’s Multi-Purpose Cooperative, which has over 70,000 members nationwide. (PNA)

  ***

References:

* Philippine News Agency. "170 modern jeepneys to ply Cebu City routes." Philippine News Agency. https://www.pna.gov.ph/articles/1115853 (accessed September 18, 2020 at 11:00PM UTC+14).

* Philippine News Agency. "170 modern jeepneys to ply Cebu City routes." Archive Today. https://archive.ph/?run=1&url=https://www.pna.gov.ph/articles/1115853 (archived).

[dailykhaleej]

Stuck in paradise: Stranded for months in Bali, UAE residents now find their jobs at risk

Lana Shevchenko in Bali Picture Credit score: Provided

Dubai: What was meant to be a tropical vacation has become a nightmare for a number of UAE residents who’re presently stranded in Bali owing to journey restrictions necessitated by the coronavirus pandemic. Residents of assorted nationalities reached out to DailyKhaleej narrating their struggles of getting to pay for their home lease, utility, cellphone and Web connection in absentia in the UAE whereas additionally having to concurrently pay for their lodging and meals bills in Bali, Indonesia.

Though a lot of these stranded are managing to work remotely, they’re frightened for their jobs if this uncertainty persists. Small enterprise homeowners are struggling, with no work being commissioned, but having to pay lease for their home and workplace area. Others have even been laid off from their jobs whereas in Bali.

Obtained the pink slip in Bali

Lana Shevchenko, an Ukrainian who has been a UAE resident for a yr, visited Bali on March 15 for a two-week enterprise journey. Nevertheless, the occasions trade skilled acquired the pink slip from her firm as quickly as she arrived in Bali.

A tranquil scene from Bali, Indonesia, however for UAE residents paradise is misplaced Picture Credit score: Provided

With Ukraine additionally closing its territory for residents, Shevchenko’s solely possibility was to spend time in Bali till borders reopen and fly to Dubai the place she rents an residence for which she nonetheless pays lease, has her private belongings and mates.

“I planned to stay here only for two weeks, so I’m running out of money and using my credit card now. I’m still waiting for my last salary. To save money, I initially stayed in a cheap hostel, but now I’m sharing a villa. I’m cooking at home and buying fruits and vegetables from local people instead of shops,” she advised DailyKhaleej.

Shevchenko is aware of it is going to be not simple to find a job throughout a world disaster. However she is utilizing her time in Bali to be taught portray and assist a charity. She is actively wanting for jobs and has already attended an interview.

“I tried registering with Twajudi as soon as it was announced, but several times it showed errors in my application. Finally, I have managed to register successfully and currently the status is shown as under process,” she stated.

Double whammy

Natalya Afanasyeva, an expat from Kazakhstan who works in Dubai with Chalhoub Group as a industrial government, has been caught in Bali since March 11. A 10-day trip has now prolonged into a number of months with no readability on when it is going to finish.

Natalya Afanasyeva Picture Credit score: Provided

“I am still paying my house rent, car loan, DEWA bill, phone and internet bills back in Dubai plus all my expenses in Bali. Although we are not living in Dubai and using these services, we are still receiving bills to pay. I cannot stay in Bali anymore since I don’t have enough money to pay for my second accommodation and food expenses,” she advised DailyKhaleej.

Within the first month in Bali, Afanasyeva and her pal rented a house for $1,300 (Dh4,774) a month and paid $650 for meals (Dh2,400). She modified homes on a weekly foundation in the primary month hoping the state of affairs would change and he or she might fly again. In April, she paid greater than $1,000 (Dh3,672) for a rented home in Bali whereas in Could, she is paying $650 (Dh2,400). She additionally must put aside Dh3,000 for her month-to-month home lease in Dubai.

The Kazakhi expat who has been residing in Dubai for 12 years stated her employer has been paying her the absolutely wage with none deduction thus far. “My employer is doing everything to support me but if the situation deteriorates further, I might have to face unpaid leave or a salary cut,” Afanasyeva added.

Ready for Twajudi approval for weeks

Though Afanasyeva has tried filling up the Twajudi type on the UAE’s Ministry of International Affairs and Worldwide Cooperation web site a number of occasions, there was no response and he or she is ready to get an approval earlier than reserving a ticket on Etihad’s flight from Jakarta to the UAE on Could 29. “A one-way air ticket from Jakarta to Abu Dhabi costs almost Dh4,000,” she identified.

A number of stranded expats declare that the UAE authorities is prioritising solely lecturers, medical employees, youngsters separated from dad and mom and faculty college students who’ve been ousted from college lodging to return to the UAE.

Caught in transit

C.M., an American analyst, travelled to Bali alone on March 17 since her UAE residence visa had expired and he or she wished to re-enter the nation on a vacationer visa. Nevertheless, with the nation closing its borders on March 19, she has been stranded in the Indonesian resort city. She has attended a number of digital interviews and was on the verge of signing a brand new job supply. Nevertheless, the employer just isn’t open to her beginning work remotely.

“The experience has been extremely stressful. I left the UAE with the intention to return in seven days. My apartment, belongings and bank accounts are all in Dubai. I am being forced to cancel my apartment, give up my DEWA account and close my phone since the expenses add up. I have to support myself in another country without knowing how long this will go on for. I don’t appreciate my life being put on hold and my career being interrupted,” C.M. advised DailyKhaleej.

The American expat is pissed off with the shortage of transparency in how Twajudi approvals are being given. She has acquired no responses from the UAE Embassy in Jakarta or the Amer providers. She has additionally contacted the American Embassy in Abu Dhabi, the American Consulate in Dubai, the American Consulate in Bali and the American Embassy in Jakarta. “Not having information in terms of what to do and how long I may be stuck here is unnerving. The American Embassy has offered to fly me back home to the US at my own expense. The number of coronavirus cases are rising in the US. I don’t feel safe returning there and I don’t have health insurance in the US. My parents are old and are considered a high-risk group. So, I don’t want to travel across the world and put them at risk. I might as well stay where I am,” she defined.

The expat, who has lived in the UAE for three-and-a-half years, has some cash saved to fulfill these unexpected bills. She additionally secured some freelance work with a Dubai firm.

With the Bali tourism trade in limbo, a whole lot of companies are providing discounted lodging and scooter leases. Nevertheless, stranded vacationers are renting a home and transportation solely on a two-week foundation. “They can negotiate a much better price for a month as opposed to two weeks. But because we have no foresight of when we might return, we are spending more money than necessary. There should be a systemised approach to repatriating residents stranded abroad,” C.M. defined.

Honeymoon prolonged

Shervan Shivesh Soogrim and Chenelle Diane Chattergoon, each residents of Trinidad and Tobago, arrived in Bali for their honeymoon on March 14 and are now stranded for two months. Shervan has been a UAE resident for 4 years and works in the well being and security division of a maritime firm in Dubai.

Shervan Shivesh Soogrim and Chanelle Dian Chattergoon Picture Credit score: Provided

“I am able to work remotely and get my salary. Thankfully, I bought my personal laptop during the holiday. I am not guaranteed any job security. While most of my managers are supportive of my situation, some are not as understanding of how it is to get work done around here,” Shivesh Soogrim stated.

Lodging is the household’s largest expense in Bali. The couple paid Dh7,500 for their lodging in April and Dh3,500 on meals and groceries. In Could, the couple moved to a different place for Dh3,800 and paid Dh2,000 on meals bills.

“I am using my basic salary to cover food, transport and accommodation costs in Bali. There is no saving,” Shivesh Soogrim advised DailyKhaleej.

The unique plan was for Chenelle to fly again to Dubai after the honeymoon on a 90-day vacationer visa. Nevertheless, in the present state of affairs, even when the UAE opens borders for residents, Shivesh Soogrim’s spouse can not fly again with him. “Trinidad borders are also closed and all flights stand cancelled,” he added.

Stuck in Turkey

Ryan Pyle, a Canadian nationwide, is a movie and tv host in Dubai with an workplace in Jumeirah Lakes Towers. A UAE resident since 2018, Pyle has been caught in Istanbul, Turkey, for eight weeks now.

Ryan Perle Picture Credit score: Provided

He was filming for a TV sequence in Ethiopia when the UAE closed its borders on March 19. “I could have gone back to Canada, but wanted to stay in the Middle East where I could keep working in the same time zone as my main partners. I landed in Turkey because it was one of the few places I could travel to,” Pyle defined.

He’s not at risk of dropping his job however admits to his firm being in horrible monetary form. “The experience has been expensive. I was in a hotel in Istanbul for the first six weeks. Now, I have rented an apartment because this is looking like it will last much longer. The UAE has still not offered low interest or zero interest loans through financial institutions to small businesses like mine. I am still paying rent for my office in JLT. I have not received a rent holiday from my landlord,” he identified.

Pyle stated that small companies had been getting crushed in the lockdown. Nobody is commissioning new movie and tv work, he added.

“I am not interested in a repatriation flight. I will come back when Dubai and Emirates get back to work properly. I am not missing any work in Dubai, there is no work anywhere,” he added.

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[advancetaxreliefexperts]

SMALL BUSINESS TEMPORARY ASSISTANCE PROGRAMS

Right now, the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) is helping small business owners and employees get through the coronavirus — one step at a time. We’ve got all the info on how this new legislation impacts your business and employees.

There are four programs you can leverage for your small business during the coronavirus outbreak:

Paycheck Protection Program (new applications currently suspended due to funding) Employee Retention Credit Payroll tax postponement Disaster loans How do you know which of these programs is the best fit for you and your business’ needs? We’ve got you covered:

1. Paycheck Protection Program (suspended due to funding) The Paycheck Protection Program (PPP) is a small business loan from the government. Businesses can leverage this loan to help with payroll costs and interest payments on current debt. As of April 16, 2020, this program is not accepting new applications due to unavailable funding.

If your business has 500 or fewer employees, you can borrow up to 2.5 times your average monthly payroll, up to $10 million. If your business is in the foodservice industry, the 500-employee rule applies per physical location.

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Good news! These loans are 100% guaranteed, without collateral or a personal guarantee. Just what small businesses need when finances are plunging quickly. You can defer the loan when you use it for permitted purposes. Another bonus: some or all of the loan balance is forgivable.

Use this loan for:

Employee salaries, up to $100,000 per employee Certain health benefits (such as insurance premiums or paid sick leave) Mortgage interest, rent, and utilities Interest on other debts This program is currently not accepting new applications due to unavailable funding. We will continue to update our small business resource center if additional funding is approved.

2. Employee Retention Credit Think of the Employee Retention Credit as a payroll tax credit. It can help you keep your employees on the payroll if you’ve stopped doing business or significantly been affected financially.

Am I eligible for this credit?

You qualify for this credit if:

You had to fully or partially suspend your operations due to a coronavirus shutdown order Your business has decreased by more than 50% compared to the same calendar quarter last year What does this credit cover?

As a small business owner and employer, you can claim a refundable tax credit of 50% on qualifying wages, up to $10,000. This credit is for wages paid to your employees from March 13 to December 31, 2020.

You can get a maximum credit of up to $5,000 per employee if you:

Employ 100 or fewer employees: All wages qualify, regardless of whether your business remains open.

Employ more than 100 employees: Wages only qualify if they’re paid to your current employees who aren’t able to work due to your business’ closure or lack of business.

You can claim the credit for the first $10,000 of wages per employee, including payment for specific health benefits. However, you can’t double dip and use the same wages for the Employee Retention Credit and any other credits for employee wages (like the Family and Medical Leave Act). 

Additionally, you can’t claim this credit for employee wages if you receive a covered small business loan.

How can I get this credit?

Though you’ll see the credit reported on your payroll tax return, you don’t have to wait until the end of the year to claim it.

To claim this credit:

Keep your share of Social Security tax that’s already withheld (up to the credit amount) until you reconcile it on your payroll tax return (Form 941) when you file your quarterly return. Claim a credit advance on Form 7200 — do this before you pay employees, then reconcile it on Form 941 when you file your quarterly return. Claim the refundable credit on your Form 941 to recover any payroll taxes already paid in the quarter. Read what the IRS has to say about the Employee Retention Credit.

3. Payroll Tax Postponement If you have employees on your payroll, you can delay paying your share of their Social Security contributions. But you’ll owe half of the payment by December 31, 2021, and the rest by December 31, 2022.

The postponement excludes:

Medicare taxes, or 1.45% of wages with no ceiling Social Security and Medicare taxes paid by the employee Are you a self-employed taxpayer? Self-employed taxpayers, including Schedule C and Schedule F filers, can defer half of their 2020 Social Security taxes. These are 6.2% of net earnings up to $137,000 for estimated tax purposes.

4. Economic Injury Disaster Loan Businesses have historically used these loans in federally declared disaster areas. However, the disaster loan program is now available to all small businesses as a part of the CARES Act.

You don’t have to give a personal guarantee for loans under $200,000. You also can request an advance of up to $10,000 to get paid out in three days.

Use a disaster loan for:

Paid sick leave for employees Maintaining payroll Covering the increased cost of materials due to supply chain limitations Rent or mortgage payments Repaying unmet obligations due to revenue loss

Who qualifies?

Any business, cooperative, or employee stock ownership plan (ESOP) with 500 or fewer employees

All sole proprietors, independent contractors, and private non-profits

Bonus assistance program: The Small Business Administration

You can also find temporary assistance through the Small Business Administration (SBA). For example, if you’ve got an existing SBA loan, the organization could defer your principal and interest payments for six months. The SBA is also working to provide small businesses with economic support through access to capital, export assistance, and continued guidance. Learn more about how the SBA is tackling the coronavirus.

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[inlandre-blog]

EFFORTS OF NATIONAL ASSOCIATION OF REALTORS (NAR) DURING PANDEMIC

WASHINGTON (March 27, 2020) - because the House of Representatives' voted Friday to send a historic COVID-19 relief package to President Trump, the National Association of Realtors® published a comprehensive guide to the $2 trillion, 880-page bill educating Realtors® on the numerous benefits secured by NAR. The nation's largest trade association is additionally offering separate, evolving guidance to assist its members navigate the crisis.

"This bipartisan relief bill delivers a much-needed win for the American people and for our nation's 1.4 million Realtors®," said NAR PresidentVince Malta. "Over recent weeks, NAR has worked tirelessly with Congressional leaders to make sure small business owners, the self-employed and independent contractors were included within the federal response to the present national crisis. With every two home sales-generating one job during this country, the $64000 estate industry will represent a key piece of our national recovery, and NAR will continue fighting for key provisions in an exceedingly fourth relief package expected within the coming weeks."

The measure includes:

$350 billion for the tiny Business Administration 7(a) loan program, allowing eligible small businesses to secure up to $10 million toward mortgage interest, rents, utilities, and payroll costs.

A significant expansion of unemployment insurance for the self-employed and independent contractors that would provide benefits for up to 39 weeks. These workers don't seem to be usually covered under traditional state unemployment benefit programs.

An employee retention step-down estimated to supply $50 billion to companies that retain existing employees.

Rebates of $1,200 to single filers and $2,400 to joint filers, plus $500 for every child, subject to income limitations.

A 60-day foreclosure moratorium and up to 1 year of mortgage forbearance. Among a number of other initiatives, NAR is additionally working with lawmakers to expand access to remote online notary services and supply direct rental assistance for families who have income loss thanks to COVID-19.

The National Association of Realtors® is America's largest trade association, representing over 1.4 million members involved altogether in aspects of the residential and commercial property industries. Amidst the COVID-19 pandemic, states over the United States are executing limitations on which organizations can stay open and who must work remotely. A few industry gatherings, including the NAR, have found a way to advocate for the lodging business and guarantee that officials are taking self-employed entities and entrepreneurs into thought when drafting enactment.

As states are at present overwhelming their own principles, NAR is additionally working with state relationships to characterize realtors related administrations as "fundamental" in any crisis presentations. NAR has likewise advocated for cutoff time alleviation for the working capital safe dock for Qualified Opportunity Funds, just as for 1031 like-kind trades 180-day fulfillment cutoff times to help with delays in settlements as title organizations close during the flare-up. It is additionally "working with other exchange affiliations and industry accomplices to extend access to remote online legal official administrations, give direct rental help to families who have salary misfortune due to COVID-19, and push for alleviation for landowners from the money related commitments of restraint and foreclosures ."

LAND OWNERS AND RENTERS

A few associations - including NAR, the National Multifamily Housing Council, the Council for Affordable and Rural Housing, the National Association of Home Builders and numerous others - united to draft an alliance letter that bids direct rental help for families who encountered lost salary due to COVID-19. It focuses on the requirement for alleviation for land owner-related weights, for instance, contract and other money-related commitment self-control, and cautions against cover ousting bans. On March 23, the Federal Housing Finance Agency (FHFA) approved Fannie Mae and Freddie Mac to suit self-control for multifamily proprietors, given that they stop expulsions to leaseholders unfit to pay lease because of COVID-19.

REALTORS EVALUATION, MORTGAGE

To keep on encouraging realtors exchanges, FHFA added adaptability to mortgage provisions, explicit evaluations and work checks. In the declaration, additionally, on March 23, FHFA approved Fannie Mae and Freddie Mac to actualize "evaluation options," to maintain a strategic distance from the face to face cooperation; just as proceed with work confirmations through email from the business, if incapable to verbally check, or by means of a bank explanation that shows an ongoing finance store, or an ongoing year-to-date pay receipt.

As per the declaration, banks should keep on using sound guaranteeing judgment to guarantee these choices are proper to the borrower's conditions.

The options stretch out to May 17, 2020.

PRIVATE COMPANIES AND INDEPENDENT CONTRACTORS

A few letters from NAR and other industry bunches have squeezed Congress to give effectively open, unbound credit to businesses and any independently employed people to guarantee they can pay their laborers, lease and some other expenses. These letters mentioned the following :

Suspend the recording of business returns and the installment of all business expenses to the national government for the span of the pandemic; and change the Tax Code to, among different things, reclaim the capacity of organizations to carry back any networking misfortunes against earlier year charge installments.

Suspend the utilization of Section 163(j) confinement on intrigue cost conclusions for the charge year 2020 to abstain from punishing organizations for obtaining during this emergency.

Suspend Section 461(l) misfortune constraint ongoing through organizations to permit organizations to fully deduct any misfortunes they bring about this year. Conclusion– NAR also is pushing for some real estate services to be deemed essential during the crisis. "Many of our state associations are reaching out to their governors on this issue. Our country is facing rapidly rising unemployment," the NAR letter noted. "There are 9.5 million jobs in the real estate, rental and leasing industry, real estate school and every two home sales generate one job."

Other NAR initiatives include a request to the Treasury Department and IRS to ease deadlines for the working capital safe harbor for Qualified Opportunity Funds. So these efforts are being done by the NAR to stabilize the real estate scenario in their country which occurred due to a pandemic.

Source - https://bit.ly/2V5XfRz

[fnewstoday]

Best Loan Options In Quarantine – Find Here The Right One

The inexorable spread of coronavirus forced the government to resort to an emergency to prevent total infection of the Americans. For the second week, our life is proceeding quite differently than a month ago. In order not to get sick ourselves and not to spread COVID-19 among other people, we stay at home and leave it only in case of emergency. However, while we stay at home no one will pay us a salary, despite the fact that we will not stop eating. That is why the question about what is the best loan options in quarantine to choose in case products and money run out becomes so relevant. Many Americans would continue to go to work, despite the risk of contracting coronavirus, which can lead to death, especially older people and people with chronic illnesses. However, many jobs are closed while quarantine and if the company survives, they will open no earlier than in a few weeks. Restaurants, entertainment and shopping malls, like many other businesses, have closed to prevent the pandemic from spreading further. Some employees were sent on vacation, others were temporarily sent home without pay, and some were completely fired. So many Americans found themselves face to face with coronavirus and financial difficulties.

Take advantage of financial support

Even if you are still not as bad as many others and your work place is reserved for you and you have some money for the first time to stay at home, so far no one knows exactly how the pandemic situation will develop further and how long home isolation will last. In this regard, it is worth considering the best loan options in quarantine, which will provide you with a financial pillow and is best suited if you need money. In the event that you have already felt the negative impact of the coronavirus pandemic in your own pocket, then for you this question has already become especially relevant. Find out more about the types of personal loans and lenders that you can provide to cover gaps in your finances during quarantine.

best-loan-options-in-quarantine-to-choose Short payday loans This type of loan is very popular among short loans of small amounts, which are then repaid most often with one payment from your salary on the day it is received. Their term usually does not exceed one month and seems to be an inexpensive loan, but if you count the interest for a year, then payday loans are one of the most expensive types of financial support. To apply for and receive such loans often requires a personal visit to the lender's office, which is dangerous to do during the ramp-up of the virus throughout the country. In addition, you are unlikely to be able to count on the approval of this loan if you are temporarily or indefinitely left without a salary or completely without work. Sometimes some payday loan lenders are willing to consider your unemployment benefits as proof of income. But then again, the conditions and interest rate in this case may be even higher. If you are sure that you will pay the payday loan on time, then in general this may be an acceptable option when borrowing small amounts for two to four weeks. However, if you cannot repay the payday loan on time in one installment, it can cause to sink you into debt swamp due to its infinitely growth, which will then be difficult to repay. Peer-to-peer (p2p) lending Modern technologies of distributed and secure computer databases have made it possible to provide loans to one borrower by several lenders at once. Websites that unite different investors who want to earn on a loan, act as intermediaries between lenders and borrowers. They connect several parties to the transaction and provide security and guarantees. So, wanting to borrow money through such a P2P platform, you get the opportunity to quickly get money, while each lender gets the opportunity to partially lend to several borrowers at once in order to diversify their risks and earn on the interest that the debtor pays. Same day loans Quick personal loans are very relevant among those who are in emergency situations when money becomes needed very urgently. Typically, lenders provide small amounts with this type of loan, but the money you need will be credited to your account within a few hours if the loan is approved. Traditional bank loans Of course, you can try to use the services of your bank, with which you already cooperate. If you have a good credit history and relationship with your bank, then it is highly likely that a loan will be approved for you. Another thing is that the simplicity and speed of obtaining a loan at the bank loses to other lenders. In addition, you will again have to personally visit the bank branch to apply, providing a lot of documents, and then to get a cash loan. Therefore, during a coronavirus pandemic, a traditional bank loan may not be the best loan options in quarantine, because it may not be so simple because of the restriction of the work of bank branches and violation of isolation due to contact with a large number of people. Also, this option most likely will not work if your credit score is too low or has already suffered from the first consequences of the spread of COVID-19. Even if you have a long-standing relationship with your bank, you will most likely receive a denial of a loan until you raise your credit rating. Naturally, if you run out of food or hygiene products, which are so necessary during quarantine, as well as money, then you will not have time to fix your credit. Online loan stores This will probably be the most relevant and the best loan options in quarantine during a pandemic if you need to receive financial support. Firstly, all the processes here, from filing an application to final payment, occur exclusively online, without having to visit the company’s office or even leave your home. So, having received loan approval, which is very likely, because they have one of the highest percent of approval, then you can order the necessary food or hygiene products through the online store, which will deliver them to your home. This one of the best loan options in quarantine is probably the most relevant to security requirement. One of the successful examples of such online loan stores is our project Fnews.today, through which you can apply for a loan to which several online lenders will immediately respond and you will receive a preliminary decision on a loan in a few seconds. Here you will find creditors with different conditions and criteria for approving loans, including for borrowers with bad credit.

technologies-of-distributed-and-secure-computer-databases

How to take a loan?

There are many loan options to stay a quarantine many places, so you will only have to choose the most suitable conditions for you. However, do not forget that any loan must be paid, so before you submit an application, soberly assess your capabilities. Check your credit status so that you can understand for approval which loans you are likely to be able to count on. Your credit rating also affects not only the likelihood of approval, but also the conditions that lenders are willing to provide you. The higher your credit score, the better conditions and interest rates you can be approved by lenders.

Study your budget

Check your monthly income and expenses. How much money do you have left? Will there be enough for a monthly loan payment? Can you give up something to save? Having answered all these questions, you will be able to determine what limit of the amount per month you are ready to pay on the loan. This is important because a too small loan payment will increase the loan term, which will make you pay more in the end, and a too large payment may be too difficult for you. The good news is that since all public institutions, restaurants, entertainment centers, cinemas, etc. in most areas are closed, you can save on visiting these places to ensure faster loan repayments, or to secure a small reserve of funds on time until quarantine ends. The main thing now is to maintain prudence in all areas of life, not to succumb to panic and not to be wasteful, observing all safety measures and hygiene. Soundly and keep up to date with the news. While nothing has been definitely decided by state financial aid, you should not count on it prematurely and weigh each expenditure. Apply for support using the loan application form on our website. Read the full article

[guidetourme]

Digha Tourism

Digha Tourism in West Bengal India

KOLKATA Digha Tourism : After lambasting the demonetisation move for over a month, chief minister Mamata Banerjee - who had earlier said that the state exchequer had already lost Rs 5,260 crore - will get a first-hand knowledge of the impact on two key sectors -tourism and agriculture -when she visits East Midnapore and Bankura next week. Even on Tuesday, Banerjee highlighted the plight of workers in her outburst against the Centre. "Crores of people have become victims of a visionless policy. It's a catastrophe. The draconian demonetisation decision has drastically affected about 5 crore workers in the country . It is indeed a major setback for the employees since Independence," she said in a statement. She elaborated, " According to reports, around 1.25 crore workers in the country in unorganized sector, e-commerce, leather, jute, textiles, glass, beedi, gems and jewellery sectors and daily wage earners under government schemes like MNREGA have either lost jobs or have been seriously affected due to cash crunch. In big industries, the retrenchment process is going on which has made or will make huge number of workers jobless." According to sources, the chief minister's visit to East Midnapore will coincide with the Digha Tourism Festival -now an annual fixture on the tourism calendar to lure more tourists. In Bankura, she is expec ted to hold an administrative meeting in Mukutmonipur. According to sources, in the past month alone, Bengal's tourism has suffered losses worth Rs 1,000 crore. State tourism minister Goutam Deb, however, wasn't willing to cite a figure. "The tou rism sector has been badly hit.Prior to November 8, whatever advance bookings we had we are seeing only those people tickling in. Fresh bookings have fallen drastically . Tourists are feeling the cash pinch." State transport minister Suvendu Adhikari, the ex-Tamluk MP , added: "In Digha and Mandarmani, most hotels went empty the past month. It is only now that some people have started coming. This is peak season time otherwise.Anytime this month, all hotels would have been booked much in advance." If tourism has taken a beating, so has agriculture. Trinamool MLA and Bankura district president Arup Khan said, "Labourers can't be paid. Farmers are not getting any fresh loans. The crisis is acute." In East Midnapore, too, cultivation of betel leaf and cashew -two primary produce here -have taken a body blow. "The cash-crunch is severe. Lending by the district cooperative banks (to cultivators) has fallen by 25%," Adhikari, who also heads two district cooperative banks, claimed. The CM, earlier on December 5, had told the state assembly that the state economy has already contracted by 25%.While she had mentioned several key industrial sectors, she didn't provide any preliminary estimates for tourism and agriculture, which is feeling the maximum pinch. Her December 19-23 district tour, however, will give her some key inputs on them, feel sources. Body blow to tea, jute industries Kolkata: Labour minister Moloy Ghatak on Tuesday claimed that tea and jute industries are finding it difficult to continue with operations, including payments to workers, due to demonetisation. Though no factories have been closed down, salaries in 28-odd tea gardens in Bengal have been delayed while the fate of jute mill workers were also the same, he added. BJP president apologises to CM Kolkata: State BJP president Dilip Ghosh on Tuesday apologised to Mamata Banerjee for his remarks that they could have "dragged her by her hair"."I never tried to hurt feelings of any person or intended to make any personal attack against anyone. Whatever I said was out of emotion.If our CM feels insulted, I am extremely sorry," Ghosh said in the Assembly.Ghosh apologised in the House soon after govt deputy chief whip Tapas Roy strongly raised his voice against him.

A pleasant surprise - Hotel New One N Only

The Location of the Hotel is around 2 to 3 min of walking distance from New Digha Beach. The Hotel itself has a restaurant but you also do have an option of many restaurants around the hotel and the beaches. There are many souvenir shops around the hotel and the beach near to the hotel side. The Hotel staff were supportive to some extend but not enthusiastic enough to help. The Rooms were just OK OK .. but the bathroom were pathetic , it was not clean. I had booked AC Standard room but it had windows which open within the premises of the hotel , so the passer by can easily check inside our room.When I ask to change the room , then came to know that all the AC Standard rooms have window which open within the hotel and hence any passer by from the lawn or stairs can see things inside the room.It was indeed a great turn off. In every hotel , every day in the morning , cleaning staff comes and clean the room and change the bedsheets and towels but here in this case there were no cleaning done although we stayed for 2 days from 24th Oct 2014 till 26th Oct 2014. Read the full article

[titusjxgp927-blog]

Debt Solutions - Lenders Focus on Profit You Must Focus on Saving - Use Professional Settlement

"College trainees are often cautioned to prevent private loans unless absolutely required, prompted instead to take benefit of all other financial assistance options first.

The advice is sound. Generally speaking, private trainee loans, which are offered by banks, cooperative credit union, and other private lending institutions, do not offer the exact same level of debtor defenses and benefits that federal government college loans do.

As a student, you ought to look for out grants and scholarships initially-- money for college that you won't have to repay-- prior to taking on college loan debt. Then, if you're still going to need college loans, you should, in basic, make certain you have actually made http://query.nytimes.com/search/sitesearch/?action=click&contentCollection&region=TopBar&WT.nav=searchWidget&module=SearchSubmit&pgtype=Homepage#/https://www.thebalance.com/best-debt-consolidation-loans-4175125 the most of all your readily available government loans prior to you consider getting a personal trainee loan.

Interest Rates & Repayment Options

Federal education loans have repaired rates of interest and more flexible payment terms than personal loans. The Department of Education uses income-based payment choices that keep your regular monthly payments at a figure you can afford, repayment extensions to provide you more time to repay, and loan deferments and forbearances that can momentarily postpone your college loan payments if you're facing monetary difficulty.

If you go to operate in the public sector, you might also be eligible for the discharge of some or all of your government loan debts.

With personal trainee loans, on the other hand, your rate of interest is usually variable, and private loan providers aren't needed to supply the kind of payment versatility that comes requirement on federal college loans.

The present foreclosure crisis that began mushrooming, in part, because of variable-rate mortgages must suffice to make anybody leery of adjustable-rate loans on anything.

However it's worth bearing in mind that when rate of interest are low, as they are now, adjustable-rate personal student loans can have a lower interest rate than their fixed-rate federal counterparts.

If you have outstanding credit, or if you have a parent or co-signer with outstanding credit, you might get approved for the lowest-rate personal college loans, which presently bring rates of interest that are as much as 3-percent to 6-percent lower than the rates on federal student and parent loans.

Interest rates are predestined to rise as the economy continues to recover from the economic downturn, so private loan rates won't constantly be this low, but if you or your moms and dads remain in a position to pay that private student loan off reasonably rapidly, you may have the ability to save cash over a government-issued college loan.

Covering Your College Costs

So why get a private trainee loan at all?

Personal student loans are meant to ""fill the gap"" in college financing that may be left after you reach your federal student loaning limitations. In lots of cases, households discover that scholarships and federal financial assistance just aren't enough to cover the increasing expense of college.

Without personal student loans, you may not be able to spend for college or continue your studies.

Statistically, college graduates have a much better possibility of being gainfully used than non-graduates do, and college graduates, typically, earn more cash in their tasks than employees who don't have a college degree. For you as an university student, much better task and salary potential customers might make the problem of an affordable quantity of private trainee loans much easier to bear.

Dealing With Private Student Loan Lenders

College lender aren't deaf to the financial truths that college graduates are dealing with. Recently, some of the biggest private trainee loan lenders have instituted new guidelines for the repayment and forgiveness of college loan debt.

Wells Fargo and Sallie Mae, for example, both revealed this year that they would begin discharging personal trainee loans upon the death of the borrower. Beforehand, that debt was being delegated the co-signer to repay.

And as the economic downturn and large swaths of unemployment amongst current college graduates has led to greater rates of delinquency and default on college loans, some private lenders have actually revealed a minor uptick in their desire to exercise modified repayment plans with distressed customers who are unable to repay their personal trainee loans.

Being a Smart Student Debtor

For students who must rely on personal education loans, it pays to look around. Interest rates are constantly crucial, but they aren't the only aspect worth thinking about. Payment policies, payment deferment choices, default and late-payments penalties, interest-rate caps, and other terms may offer some personal trainee loan programs a clear advantage over others.

Always bear in mind the total quantity of your financial obligation from all sources, school loans and otherwise, and goal to limit your reliance on college loans, both federal and private.

The Department of Education's National Trainee Loan Data System can assist you track all your federal loan debt. Additionally, if you're bring financial obligation from multiple federal college loans, the Education Department's student loan financial obligation combination pacific national funding consolidation program program can assist streamline the payment procedure and may reduce your regular monthly loan payments.

As you start to repay your school loans, make it a priority to settle the higher-interest loans initially.

By making the most of college scholarships, using all your federal financial assistance choices, and decreasing the quantity of debt you handle to spend for school, you can gain from the careful and restricted borrowing of personal trainee loans to help pay for your college education."

[hectoraefr925-blog]

Free Debt Relief Application - How to Apply For the Best Debt Settlement Programs

"College students are often cautioned to prevent private loans unless definitely necessary, advised rather to make the most of all other monetary aid choices initially.

The suggestions is sound. Normally speaking, personal student loans, which are provided by banks, cooperative credit union, and other personal loan providers, don't offer the same level of debtor securities and advantages that federal government college loans do.

As a student, you should look for grants and scholarships initially-- loan for college that you will not have to repay-- prior to handling college loan debt. Then, if you're still going to require college loans, you should, in basic, make sure you have actually optimized all your readily available federal government loans before you think about taking out a private student loan.

Interest Rates & Payment Options

Federal education loans have actually fixed rate of interest and more flexible payment terms than private loans. The Department of Education uses income-based repayment alternatives that keep your regular monthly payments at a figure you can pay for, repayment extensions to offer you more time to pay back, and loan deferments and forbearances that can temporarily delay your college loan payments if you're dealing with monetary difficulty.

If you go to operate in the public sector, you might also be qualified for the discharge of some or all of your government loan debts.

With personal trainee loans, on the other hand, your rate of interest is usually variable, and private lending institutions aren't required to offer the kind of payment flexibility that comes standard on federal college loans.

The existing foreclosure crisis that began mushrooming, in part, since of variable-rate mortgages need to be enough to make anyone leery of adjustable-rate loans on anything.

But it's worth bearing in mind that when rates of interest are low, as they are now, adjustable-rate private trainee loans can have a lower rates of interest than their fixed-rate federal equivalents.

If you have exceptional credit, or if you have a moms and dad or co-signer with outstanding credit, you may get approved for the lowest-rate private college loans, which currently carry rates of interest that are as much as 3-percent to 6-percent lower than the rates on federal trainee and parent loans.

Rate of interest are predestined to increase as the economy continues to recover from the economic downturn, so private loan rates will not always be this low, but if you or your parents remain in a position to pay that personal trainee loan off fairly quickly, you may have the ability to conserve money over a government-issued college loan.

Covering Your College Costs

So why get a personal trainee loan at all?

Personal trainee loans are suggested to ""fill the space"" in college financing that may be left after you reach your federal student loaning limits. In a lot of cases, households discover that scholarships and federal monetary help simply aren't enough to cover the increasing cost of college.

Without personal trainee loans, you may not have the ability to spend for college or continue your studies.

Statistically, college graduates have a better chance of being gainfully utilized than non-graduates do, and college graduates, on average, make more cash in their tasks than employees who don't have a college degree. For you as an university student, much better job and salary prospects might make the concern of a sensible quantity of personal trainee loans simpler to bear.

Dealing With Personal Student Loan Lenders

College lender aren't deaf to the economic realities that college graduates are dealing with. Just recently, some of the largest private student loan lenders have actually instituted new standards for the repayment and forgiveness of college loan debt.

Wells Fargo and Sallie Mae, for instance, both revealed this year that they would begin releasing personal student loans upon the death of the customer. In advance, that financial obligation was being left to the co-signer to repay.

And as the economic crisis and big swaths of joblessness amongst recent college graduates has actually caused greater rates of delinquency and default on college loans, some personal lenders have shown a small uptick in their determination to work out customized repayment plans with distressed borrowers who are not able to repay their personal trainee loans.

Being a Smart Trainee Customer

For trainees who should rely on private education loans, it pays to search. Rates of interest are constantly crucial, but they aren't the only element worth thinking about. Repayment policies, payment deferral choices, default and late-payments charges, interest-rate caps, and other terms might offer some personal trainee loan programs a clear benefit over others.

Constantly bear in mind the total amount of your debt from all pacific national funding consolidation program sources, school loans and otherwise, and objective to restrict your reliance on college loans, both federal and private.

The Department of Education's National Trainee Loan Data System can help you track all your federal loan debt. In addition, if you're carrying debt from numerous federal college loans, the Education Department's trainee loan financial obligation consolidation program can assist streamline the repayment procedure and may decrease your monthly loan payments.

As you start to http://www.bbc.co.uk/search?q=https://www.thebalance.com/best-debt-consolidation-loans-4175125 repay your school loans, make it a concern to pay off the higher-interest loans initially.

By making the most of college scholarships, utilizing all your federal financial assistance alternatives, and reducing the amount of debt you handle to pay for school, you can gain from the mindful and restricted borrowing of private trainee loans to help pay for your college education."