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KCC Loan Scheme | ₹ 100000 loan of KCC farmers waived off, check your status whether your loan is waived off or not KCC Loan Scheme : Now a big announcement can be made regarding farmer loan waiver. According to sources, it has been learned that now the Gehlot government is thinking of giving a big gift to the farmers on the New Year. The government is soon planning to provide assistance to the banks, due to which now the farmer loans taken from nationalized banks can be waived off. For this, the government has proposed farmer loan waiver in all nationalized banks. We would like to inform you that when Gehlot government came to power, the government had waived off farmer loans … Read More » KCC Loan Scheme : Now a big announcement can be made regarding farmer loan waiver. According to sources, it has been learned that now the Gehlot government is thinking of giving a big gift to the farmers on the New Year. The government is soon planning to provide assistance to the banks, due to which now the farmer loans taken from nationalized banks can be waived off. For this, the government has proposed farmer loan waiver in all nationalized banks. We would like to inform you that when Gehlot government came to power, the government had waived off farmer loans … Read More »

Agribank launches mobile branch initiative: The Agricultural Bank of Namibia (Agribank) has launched an innovative mobile branch initiative, Branch-On-Wheels, bringing essential financial services directly to clients in areas without physical bank branches. Bank sales executive Hildegardt Martin says the initiative involves reaching out to customers and overcoming geographical obstacles that hinder farmers or clients from accessing Agribank funding, to unlock their farming potential. “The Branch-on-Wheels concept aspires to extend Agribank services to customers in areas with no Agribank branch, as clients in such areas find it hard to reach our physical branches that are only found in selected towns,” she said. She added that the bank will assign a dedicated Branch-on-Wheels team to each of its eight branches. The approach aims to reach a wider customer base in the remotest towns, providing convenience to customers who face challenges in accessing traditional branch locations. “The bank takes this initiative very seriously and will ensure that the entire country is covered by assigning a Branch-on-Wheels team for each of the eight branches. By doing so, the bank expects to reach a wider customer base in the remotest towns, at the convenience of the customer.” Meanwhile, Agribank’s manager for marketing and communication Rino Muranda encouraged clients to actively engage with the Branch-on-Wheels teams during their scheduled visits. The services provided include accepting loan applications, handling general enquiries, sharing information, printing statements, providing updates on loan application statuses and even offering loan approvals where possible. “Agribank offers competitive fixed interest rates as low as 4% for some loan products (communal, labourer houses in commercial areas); it provides flexible repayment options often based on the cash flow of the agri-enterprise; while also offering extended loan repayment periods resulting in affordable installments,” he said. – The Brief The post Agribank launches mobile branch initiative appeared first on The Namibian.

From offices across the U.S., the USDA Farm Service Agency (FSA) provides financing to farms through direct loans to producers and loan guarantees to banks or Farm Credit institutions. As needed, it also offers emergency loans to producers affected by disasters. Of loans the FSA made in Federal Fiscal Year 2023, roughly 58% were direct obligations, and 42% were guarantees. Total FSA loans extended during this time exceeded $4.7 billion.     Although the FSA extends credit to any farmer who meets its criteria, it tends to do business with farms that otherwise lack credit access. For example, an established farm with weak profitability may seek an FSA loan if other lenders view the farm as too risky or quote high rates. Alternatively, a producer new to farming who lacks a sufficient down payment may apply to FSA for a beginning farmer and rancher loan. The FSA also directs special lending attention to socially disadvantaged producers and veterans. FSA loan programs provide credit risk protection allowing for more family farms.   To understand FSA lending activity, Alice Roach, Jennifer Ifft and I analyzed annual FSA data from 2017-23 as part of our work with the Rural and Farm Finance Policy Analysis Center (RaFF).    The charts summarize FSA’s recent direct loan volume and operating and farm ownership loan obligations. When extending direct loans, the FSA functions like a bank or ag credit association; it directly lends to producers. It has tended to extend more direct loans made in states with more farms and ag production. From 2017-19, loans were made consistently across the U.S. From 2020-23, geographic differences arose — likely due to farm financial strength in regions that produce conventional commodities.    Midwest and Plains states have dominated direct loan obligations in dollars. Texas and Arkansas have been exceptions.    In addition to making direct loans, the FSA guarantees ag loans originated by other lenders. The guarantee ensures the primary lender recoups most of any loss caused by a default. Here, the FSA engages with the primary lender, not the producer. As a share of all obligations in dollars, FSA has recently had more obligations for direct farm ownership loans and less for guaranteed operating loans.    FSA lending to socially disadvantaged farmers generally has aligned with areas known for greater ag production and higher racial diversity. Beginning farmer and rancher loan obligations and all direct loans had similar geographic dispersion. The veteran class had data too thin to produce a meaningful graph.    The data underscore a few takeaways:    1️⃣ A small share of farmers seeks direct loans from FSA.   2️⃣ Loan obligations total several billion dollars.   3️⃣ Farms in areas known for conventional commodity production generally use FSA loan programs.  4️⃣ Between 2017 and 2023, FSA directed a growing share of its financing activity to direct farm ownership loans. 

🔊 🔊 🔊 Personal loans growth moderated to 17.4 per cent (y-o-y) in April 2024 Data on sectoral deployment of bank credit for the month of April 20241 collected from 41 select scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks, was published by RBI today.. On a year-on-year (y-o-y) basis, non-food bank credit registered a growth of 15.3 per cent in April 20243 as compared with 16.2 per cent a year ago. Highlights of the sectoral deployment of bank credit3 are given below: 1. Credit growth to agriculture and allied activities accelerated to 19.7 per cent (y-o-y) in April 2024 from 16.8 per cent a year ago. 2. Credit to industry grew by 6.9 per cent (y-o-y) in April 2024 as compared with 7.2 per cent in April 2023. Among major industries, growth in credit (y-o-y) to ‘all engineering’, ‘chemicals and chemical products’, ‘food processing’, ‘infrastructure’, and ‘textiles’ accelerated in April 2024. However, credit growth to ‘basic metal and metal product’ decelerated, and contracted for ‘petroleum, coal products and nuclear fuels’. 3. Credit growth to services sector was robust at 19.2 per cent (y-o-y) in April 2024 (21.3 per cent a year ago), supported by improved credit growth to ‘commercial real estate’ and ‘professional services’. Credit growth to ‘non-banking financial companies (NBFCs)’ and ‘trade’, however, decelerated in April 2024 as compared with April 2023. 4. Personal loans growth moderated to 17.4 per cent (y-o-y) in April 2024 (19.4 per cent a year ago), despite accelerated growth in credit to housing, primarily due to decelerated growth in vehicle loans.

Manufacturing posts largest loans slump of Sh39 billion https://ift.tt/7MYlFnA Kenya’s manufacturing sector has been the hardest hit by the slowdown in private sector credit caused by higher commercial bank lending rates and rising non-performing loans. Total credit to the sector declined by Sh38.8 billion to Sh597.9 billion in the three months to end-March from Sh636.7 billion in December 2023. The decline represents almost half of the Sh82.2 billion drop in private sector credit in the first quarter of the year with the sector’s loan book falling to Sh3.829 trillion from Sh3.911 trillion. The decline in credit to goods makers is compounding the difficulties facing the sector, which saw its slowest growth rate in 16 years at 1.3% in the first quarter, due to higher costs and new taxes. The sector saw its slowest growth rate since the post-election violence in 2008, as market participants felt the impact of higher input costs and new tax measures such as the imposition of export and promotion taxes. Cement companies other than Bamburi, Mombasa and Simba Cement, which make their own clinker, have incurred higher costs that have impacted product volumes, which fell to 2.1 million tonnes in the first quarter ended March from 2.3 million tonnes a year earlier. Private sector credit has been squeezed by high interest rates and rising loan defaults, factors that have combined to push credit out of reach for some borrowers, while bad loans have prompted banks to tighten lending conditions. Lending to the private sector was also affected by the appreciation of the Kenyan shilling, which reduced the foreign currency loan book, which covers part of the loans to manufacturing. Private households defied the credit slowdown as the sub-sector recorded a loan book growth of Sh42 billion in the quarter. “NPL levels are expected to remain flat in eight economic sectors, with increases in the personal and household sectors and trade and declines in the transport and communications sectors over the coming quarter. In the first quarter of 2024, credit standards remained unchanged in 10 economic sectors. Credit standards for the personal and household sectors were tightened,” the Central Bank of Kenya said in its latest credit survey. The Central Bank pointed to the increase in defaults in the agriculture, real estate, tourism, restaurants, hotels, trade, construction and building sectors until the end of last June. Mining and quarrying, consumer durables and business services sectors also recorded unprecedented increases, with their loan books recording the only other increases in the quarter at Sh5.3 billion, Sh0.6 billion and Sh3.7 billion respectively. All other economic sectors witnessed a decline in credit with the commercial loan book shrinking by Sh17.8 billion, the transport and communication book falling by Sh20.6 billion, while finance, insurance and real estate loans fell by Sh24.6 billion and Sh11.6 billion respectively. ...

Bank loans to industries increased by 8.5 percent In the month of March, there was an increase of 8.5 percent in the loans received from banks to the industry on an annual basis, while a slowdown was seen in the personal loan segment. A year ago, in March 2023, credit growth in the industry and personal loan segments was 5.6 percent and 21 percent respectively. Releasing bank credit data, the Reserve Bank of India (RBI) said, 'Among key industries, credit to 'chemicals and chemical products', 'food processing' and 'infrastructure' increased in March 2024 as compared to the same month last year increased, while the 'Basic Metals and Metal Products' segment declined. According to the data, credit growth to agriculture and allied activities stood at 20.1 percent last month compared to 15.4 percent a year ago. However, due to slow growth in vehicle loans and other personal loans, personal loan growth declined to 17.7 percent in March 2024. It was 21 percent in the same period a year ago. Apart from this, credit growth in the services sector increased to 20.2 percent from 19.6 percent in March last year. The central bank data also showed that growth in credit to non-banking financial companies (NBFCs) and business decelerated from a year earlier. On an annual basis, non-food bank credit registered a growth of 16.3 percent in March 2024, compared to 15.4 percent a year ago. The RBI said the bank credit data has been collected from 41 selected banks, which constitute about 95 percent of the total non-food credit allocated by all scheduled commercial banks.

RBI's new draft rules for project finance loans - How intense can be the impact on banks & NBFCs if passed? In brief, though still in draft stage, the probability of provisioning% for project finance loans (i.e., loans for building infrastructure...roads, bridge, port, dams etc etc.)........going up from the current 0.4% to max. till 5%......can be a pretty huge load... Also with the objective of making India a developed nation by 2047 (budget for the same allocated as 11 lac Crores in the interim budget FY25)....infrastructural development will be a key driver.... And with the above rule if gets passed can pose as a challenge for the same.....as in a way or the other....either it will have an impact on the profitability of the banks/NBFCs or they will pass it on the borrowers (can get expensive by atleast 1-1.5%).. But we are also aware of the bad loan problem that had shaken the industry about a decade back....with 52% of the stressed loans being related to infrastructure..... So, yes, reasons are there for our central bank to be stringent....but will wait to see how it ultimately unfolds... https://bit.ly/3USjFV8

Why do banks in Africa not lend money so someone can buy land, then build a house, and then the house becomes collateral? Access to financing for land purchase and housing construction can vary across African countries and regions, but there are several reasons why banks might be cautious or reluctant to provide loans for this purpose: 1. Risk Assessment: Banks evaluate loan applications based on the borrower's creditworthiness and ability to repay the loan. In some African countries, the lack of a formal credit history and income documentation can make it difficult for individuals to qualify for loans. Additionally, the risk associated with land and housing loans can be high, especially if the borrower has a limited financial track record. 2. Land Ownership and Title Issues: In some African countries, land ownership and land titling systems may be complex and informal, which can create uncertainties and disputes over land titles. Banks may be hesitant to lend against land that lacks clear and legally recognized ownership, as it can lead to difficulties in reclaiming collateral in case of default. 3. Construction Risks: Building a house involves various risks, including construction delays, cost overruns, and the quality of construction. Banks may be concerned about their ability to recover their investment if the construction process encounters problems, leading to a partially completed or substandard house. 4. Regulatory and Legal Framework: The regulatory environment in different African countries can influence the banking sector's lending practices. Regulatory requirements, interest rate caps, and legal constraints may affect a bank's ability and willingness to provide loans for housing construction. 5. Lack of Collateral: Banks typically require collateral to mitigate the risk of loan defaults. While a house can serve as collateral, it may not be sufficient to cover the loan amount if the borrower defaults, given the potential challenges of assessing and liquidating real estate assets in some regions. 6. High Costs and Low Margins: Providing loans for land acquisition and housing construction can be costly for banks, requiring extensive due diligence and monitoring. The relatively low loan amounts and interest rate caps in some regions may make these types of loans less profitable, leading banks to focus on other lending products. Despite these challenges, some African countries have established initiatives and financial products aimed at promoting affordable housing and land acquisition. These may include government-backed housing finance schemes, microfinance institutions, and partnerships with development organizations to increase access to housing finance for low- and middle-income individuals.

Sectoral Deployment of Bank Credit – June 2024 RBI collected data on sectoral deployment of bank credit for the month of June 20241 from 41 select scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks. On a year-on-year (y-o-y) basis, non-food bank credit2 registered a growth of 13.9 in June 20243 as compared with 16.3% a year ago due to the unfavourable base effect. Highlights of the sectoral deployment of bank credit3 are given below: 1. Credit growth to agriculture and allied activities remained robust at 17.4 per cent (y-o-y) in June 2024, however, it was lower compared with 19.7 per cent a year ago. 2. Credit to industry grew at 7.7 per cent (y-o-y) in June 2024 as compared with 7.4 per cent in June 2023. Among major industries, while y-o-y growth in credit to ‘chemicals and chemical products’, ‘food processing’ and ‘infrastructure’ was higher in June 2024, credit growth to ‘basic metal and metal product’, ‘petroleum, coal products and nuclear fuels’ and ‘textiles’ moderated. 3. Credit growth to services sector moderated substantially to 15.1 per cent (y-o-y) in June 2024 from 26.8 per cent a year ago, primarily driven down by lower credit growth in ‘non-banking financial companies (NBFCs)’ and ‘trade’ segments. 4. Personal loans growth reduced to 16.6 per cent (y-o-y) in June 2024 as compared to 21.3 per cent a year ago, largely due to moderation in growth recorded in ‘other personal loans’ and ‘advances against fixed deposits’. However, credit growth to ‘housing’, the largest constituent of the segment, accelerated.

🌟Important Announcement for Businesses and Homeowners Impacted by the Recent Natural Disaster (Houston Region)🌟 If you are located in a declared disaster area, you may be eligible for financial assistance from the U.S. Small Business Administration (SBA). Here’s a breakdown of the types of disaster loans available: 1. Business Physical Disaster Loans:   Loans for businesses of any size and private non-profit organizations to repair or replace disaster-damaged property, including real estate, inventories, supplies, machinery, and equipment. 2. Economic Injury Disaster Loans (EIDL):   Working capital loans to help small businesses, small agricultural cooperatives, businesses engaged in aquaculture, and most private non-profit organizations meet their financial obligations during the disaster recovery period. 3. Home Disaster Loans: Loans for homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles. Credit Requirements:   - Credit History: Must be acceptable to SBA.   - Repayment Ability: Must demonstrate the ability to repay all loans. Interest Rates:   Interest rates depend on whether you have Credit Available Elsewhere, determined by SBA. Rates are fixed for the loan term. -Physical Damage Loan Rates:    - Home Loans: 2.688% (No Credit Available Elsewhere) / 5.375% (Credit Available Elsewhere)    - Business Loans: 4.000% / 8.000%    - Non-Profit Organizations: 3.250% - Economic Injury Loan Rates:    - Businesses & Small Agricultural Cooperatives: 4.000%    - Non-Profit Organizations: 3.250% Loan Terms:   Terms are up to 30 years, with a maximum of 7 years for businesses with credit available elsewhere. SBA sets repayment terms based on each borrower’s ability to repay. Collateral may be required. Loan Amount Limits:  - Business Loans: Up to $2,000,000 for repair/replacement of property.   - EIDL: Up to $2,000,000 for economic injury.   - Home Loans Up to $500,000 for real estate and $100,000 for personal property. Eligibility Restrictions:   - Only uninsured or uncompensated disaster losses are eligible.   - Secondary homes, personal pleasure boats, airplanes, RVs, and similar properties are ineligible unless used for business.   - Noncompliance with previous SBA loans may affect eligibility. Mitigation and Refinancing Assistance:   - Additional funds may be available for mitigation improvements to protect property against future damage.   - SBA can refinance mortgages for businesses and homeowners who meet specific criteria. Application Filing Deadlines: Physical Damage: July 16, 2024 Economic Injury: February 18, 2025 For more detailed information and to apply, visit the SBA website: https://lending.sba.gov/ To contact your local SBA office: disastercustomerservice@sba.gov 1-800-659-2955 Stay safe and take advantage of the support available to help you recover and rebuild! 💪✨ #DisasterRelief #SBA #BusinessLoans #HomeLoans #EIDL #SmallBusiness #FinancialAssistance