Loan app – Alba Ruthenicae http://albaruthenicae.info/ Sat, 02 Jul 2022 19:10:12 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://albaruthenicae.info/wp-content/uploads/2021/07/icon-2021-07-06T145847.214-150x150.png Loan app – Alba Ruthenicae http://albaruthenicae.info/ 32 32 Technology is essential for MSMEs after the pandemic https://albaruthenicae.info/technology-is-essential-for-msmes-after-the-pandemic/ Sat, 02 Jul 2022 13:59:22 +0000 https://albaruthenicae.info/technology-is-essential-for-msmes-after-the-pandemic/ The Philippines’ economy owes much of its success to micro, small, and medium-sized enterprises (MSMEs), which make up over 99% of businesses in the country and employ about 62% of the workforce. Unfortunately, despite their crucial role in the economy, these essential businesses face many barriers to growth when it comes to accessing business finance. […]]]>

The Philippines’ economy owes much of its success to micro, small, and medium-sized enterprises (MSMEs), which make up over 99% of businesses in the country and employ about 62% of the workforce. Unfortunately, despite their crucial role in the economy, these essential businesses face many barriers to growth when it comes to accessing business finance.

A new report from cloud banking platform Mambu, titled “Small Business, Big Growth,” surveyed more than 1,000 small business owners globally, including 100 Filipino SME owners, who started their businesses and asked a business loan within the past five years.

Alarmingly, the survey found that 3 out of 4 Filipino MSMEs (77%) had been unable to obtain sufficient business finance – or none at all – at some point during this period. Among businesses unable to obtain sufficient financing, 48% experienced cash flow problems, 48% were unable to launch new products or services, and 35% had difficulty repaying their creditors.

More than half (56%) of business owners resorted to loans from friends and family after being unable to secure funding through formal channels, and about 45% used their own funds personal to start their business.

Fostering the growth of MSMEs

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To overcome these barriers to growth, MSMEs in the Philippines are turning to technology-enabled alternative lenders for financing, taking advantage of the benefits that technology could bring to the lending process, such as faster loan applications and processing. . With 93% of Filipino MSMEs indicating that they would consider switching lenders for a better experience, there is a clear opportunity for lenders willing to embrace new technologies.

Leveraging technologies such as artificial intelligence, machine learning, data analytics and the cloud enables technology-driven lenders to deliver faster loan applications and processing, with much less focus on administration and paperwork. In fact, some digital lenders offer applications that can be completed in just five minutes, with loans approved and funds processed within 24 hours. This is a big improvement over the traditional MSME lending route.

If the Philippine economy is to recover from the impact of the pandemic, it is vital that banks and lenders embrace these new technologies. New cloud-native technology could dramatically improve the MSME lending experience, reducing the time it takes for each application and getting money much faster for business owners – two key issues facing business owners small businesses.

MSMEs need better support from lenders and financial institutions, and they are not afraid to change lenders to find it. Ninety-three percent of Filipino businesses say they are willing to switch lenders for a better deal. If this demand is not met, it would be a costly missed opportunity for the economy, banks and SME lenders.

If lenders want to play a role in the success of Filipino MSMEs, they must modernize their customers’ lending experience and embrace new technologies to make lending processes simpler, more personalized and accessible. Better digital lending services would enable faster processing and onboarding of lending decisions, meaning funds get into the hands of business owners when they are truly needed, and these MSMEs could get back to business.

William Dale is Chief Commercial Officer of Mambu APAC and is responsible for growing the business in the APAC region. During his time at Mambu, Will has worked with a wide range of businesses, including neo-banks, established Tier 1 banks, and other fintechs and financial services institutions that now rely on the platform. Mambu to provide banking, lending and BPaaS services to their customers. .

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Jesse Lingard: West Ham await striker call after Man Utd contract expires | Transfer Center News https://albaruthenicae.info/jesse-lingard-west-ham-await-striker-call-after-man-utd-contract-expires-transfer-center-news/ Thu, 30 Jun 2022 19:13:05 +0000 https://albaruthenicae.info/jesse-lingard-west-ham-await-striker-call-after-man-utd-contract-expires-transfer-center-news/ West Ham are still awaiting a decision from Jesse Lingard, with the player set to become a free agent on Friday. The Hammers believe they have made a good offer and are hoping he will sign after his release from Manchester United. Lingard scored nine Premier League goals in 16 starts for West Ham during […]]]>

West Ham are still awaiting a decision from Jesse Lingard, with the player set to become a free agent on Friday.

The Hammers believe they have made a good offer and are hoping he will sign after his release from Manchester United.

Lingard scored nine Premier League goals in 16 starts for West Ham during a loan spell in the second half of the 2020/21 season.

The striker officially becomes a free agent on Friday when his contract with United expires. Newcastle attempted to sign Lingard in the January transfer window.

Image:
Jesse Lingard had a successful spell on loan at West Ham in 2021

Former United caretaker manager Ralf Rangnick dismissed criticism from Lingard’s brother in May after he failed to bid farewell to Old Trafford against Brentford.

Gary Neville has argued Lingard doesn’t deserve special treatment after seeing two United favourites, Bryan Robson and Steve Bruce, dismissed without a sentimental send-off.

Speaking on the Gary Neville podcast, he said: “The nonsense about Jesse Lingard, look, Jesse has been at the club a long time, did a good job, but I saw Bryan Robson and Steve Bruce not playing in their last matches and failing to get a start in the cup final.

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Gary Neville says Jesse Lingard had no ‘God-given’ right to play in his last game for the club, pointing out that some of the club’s greats weren’t on the pitch when their careers at Old Trafford took a turn for the worse. ended.

“One of them is possibly the greatest captain Manchester United have ever had and the other is one of the greatest and they didn’t get that send off, a fan farewell. I don’t know Not sure why Jesse Lingard deserves it.

“I was flushed in West Brom down the toilet. In the end it doesn’t work, Jesse.”

David Moyes is looking to improve his squad ahead of a season which will see West Ham combine Premier League improvement with a debut campaign in the Europa Conference League.

West Ham completed the permanent transfer of Paris Saint-Germain goalkeeper Alphonse Areola on a five-year deal earlier this week.

West Ham set to offer £30m for Chelsea striker Broja

Armando Broja spent the 2021/22 season on loan at Southampton
Image:
Armando Broja spent the 2021/22 season on loan at Southampton

West Ham are set to make an offer of around £30m for the Chelsea striker Armand Broja.

The 20-year-old has been identified as West Ham’s best striker this summer.

The club are keen to step up their pursuit of the Albania international, with his future to be secured by new owner Todd Boehly and manager Thomas Tuchel following the departure of Chelsea manager Marina Granovskaia.

Broja impressed on loan at Southampton last season, scoring nine goals in 38 appearances in all competitions, and Saints were also keen to sign him permanently.

Armando Broja was on loan at Southampton last season
Image:
Armando Broja was on loan at Southampton last season

West Ham agree £30m Aguerd deal

West Ham completed their first signing of the summer with the Rennes defender Nayef Aguerd.

The Moroccan defender has signed a five-year contract with David Moyes’ Hammers, in a deal that will cost the east Londoners around £30million, including add-ons.

Aguerd is Moyes’ first foray into the transfer window, as West Ham plan to improve their squad ahead of a season that will see them combine Premier League improvement with a debut campaign in the Europa Conference League.

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West Ham’s new signing, Moroccan defender Nayef Aguerd, says it was an easy decision for him to join the club after speaking with manager David Moyes.

“I was really excited when I heard about the interest from West Ham United,” said Aguerd. “When I heard about it, I knew I had to go to the Premier League because it’s a dream for every player.

“West Ham are a historic club. I’ve seen a few of their games this year, and I’ve seen the fans and the atmosphere was fantastic, with the bubbles! I spoke with the manager and he told me showed he was very interested, so it was easy to choose to come to West Ham.”

What other positions are West Ham targeting?

Sky Sports News chief reporter Kaveh Solhekol:

David Moyes will receive cash to spend on continuing to strengthen his squad, with Mark Noble, Andriy Yarmolenko, Ryan Fredericks and David Martin all leaving at the end of their contracts.

One of the sagas of the summer will be the future of Declan Rice. West Ham have made it clear they won’t be selling him this summer, but you’d think they would find it difficult to turn down an offer of around £100million. Rice has two years left on his contract, but West Ham have the option of extending it for another year until the summer of 2025.

They are also interested in Hull City striker Keane Lewis-Potter.

Follow the summer transfer window with Sky Sports

Who will be on the road this summer before the transfer window closes in 11 p.m. on September 1.

Keep up to date with all the latest transfer news and rumors in our dedicated Transfer Hub blog at Sky Sports’ digital platforms. You can also catch up on the ins, outs and analysis at Sky Sports News.

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Cong leader Satyajeet Tambe writes to RBI Governor and demands action against widespread online loan scams https://albaruthenicae.info/cong-leader-satyajeet-tambe-writes-to-rbi-governor-and-demands-action-against-widespread-online-loan-scams/ Tue, 28 Jun 2022 18:53:50 +0000 https://albaruthenicae.info/cong-leader-satyajeet-tambe-writes-to-rbi-governor-and-demands-action-against-widespread-online-loan-scams/ Congress leader Satyajeet Tambe has written to Reserve Bank of India (RBI) Governor Shaktikanta Das to draw his attention to widespread abusive practices through online instant loan applications. Congress leader Satyajeet Tambe has written to Reserve Bank of India (RBI) Governor Shaktikanta Das to draw his attention to widespread abusive practices through online instant loan […]]]>

Congress leader Satyajeet Tambe has written to Reserve Bank of India (RBI) Governor Shaktikanta Das to draw his attention to widespread abusive practices through online instant loan applications.

Congress leader Satyajeet Tambe has written to Reserve Bank of India (RBI) Governor Shaktikanta Das to draw his attention to widespread abusive practices through online instant loan applications. The letter was written on June 17.

He urged the governor to intervene in the matter. Maharashtra’s cybercrime unit has received at least 1,900 complaints related to online loan applications since 2020.

Tabe said the phenomenon is the latest online threat. “Even a committee formed by RBI found that more than half of the 1,100 apps available on the devices are illegal. These 1,100 digital lending apps are available in at least 80 app stores. According to the RBI report, the maximum number of complaints were filed in Maharashtra, followed by Karnataka, Delhi, Haryana, Telangana, Andhra Pradesh and Uttar Pradesh among others,” Tambe said.

Tambe added in his letter, “Most private lenders attract customers by offering huge loan amounts, collecting the least amount of paperwork and disbursing the loan in no time. People who urgently need money take out loans with high interest rates and end up being harassed.

Tambe further said that borrowers are inundated with calls, abused on calls, and harass people on their contact list. “They often cause irreversible damage with their shameful tactics and the borrower even finds it difficult to cope with society,” he added.

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Upcoming Trends of Islamic Finance Market Segmented by Type, Application, End User and Region – Al Rajhi Bank, Abu Dhabi Islamic Bank, Al Baraka Banking, Dubai Islamic Bank, Emirates NBD, HSBC, Kuwait Finance House, NBAD, NCB, Qatar International Islamic Bank, Samba Financial Group – Indian Defense News https://albaruthenicae.info/upcoming-trends-of-islamic-finance-market-segmented-by-type-application-end-user-and-region-al-rajhi-bank-abu-dhabi-islamic-bank-al-baraka-banking-dubai-islamic-bank-emirates-nbd-hsbc-kuwait/ Sun, 26 Jun 2022 14:01:27 +0000 https://albaruthenicae.info/upcoming-trends-of-islamic-finance-market-segmented-by-type-application-end-user-and-region-al-rajhi-bank-abu-dhabi-islamic-bank-al-baraka-banking-dubai-islamic-bank-emirates-nbd-hsbc-kuwait/ The Islamic financing The research report studies primary and secondary research to effectively analyze the data. The market research also draws attention to crucial industry factors such as global customers, potential customers, and vendors, which drives the positive growth of the business. In order to assess the turn of the companies, significant key market […]]]>

The Islamic financing The research report studies primary and secondary research to effectively analyze the data. The market research also draws attention to crucial industry factors such as global customers, potential customers, and vendors, which drives the positive growth of the business. In order to assess the turn of the companies, significant key market players are also enlisted to provide the readers with an in-depth analysis of the industry strategies.

The Islamic Finance report is heavily structured into a study by region. The comprehensive regional analysis done by the researchers highlights the key regions and their dominant countries accounting for substantial revenue share in the market. The study helps to understand how the market will perform in the respective region, while also mentioning emerging growing regions with significant CAGR.

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The report provides a comprehensive analysis of the company profiles listed below:

Al Rajhi Bank, Abu Dhabi Islamic Bank, Al Baraka Banking, Dubai Islamic Bank, Emirates NBD, HSBC, Kuwait Finance House, NBAD, NCB, Qatar International Islamic Bank, Samba Financial Group

Types of Islamic finance markets:

.

Islamic Finance Market Applications:

Individual, Commercial, Governmental, International

The study report offers a comprehensive analysis of the Islamic Finance market size across the globe in the form of regional and country level market size analysis, CAGR estimation of market growth Market Over the Forecast Period, Revenue, Key Drivers, Competitive Background, and Payers Sales Analysis. Along with these, the report explains the major challenges and risks to be faced during the forecast period. Islamic Finance market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Islamic Finance Market will be able to gain the upper hand as they use the report as a powerful resource.

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  • The report helps stakeholders understand the pulse of the Islamic Finance market and provides them with insights on key market drivers, restraints, challenges, and opportunities.
  • This report will help the stakeholders to better understand the competitors and acquire more information to improve their position in their businesses. The competitive landscape section includes competitor ecosystem, new product development, deal, and acquisitions.

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Mumbai man harassed by officers goes missing https://albaruthenicae.info/mumbai-man-harassed-by-officers-goes-missing/ Sat, 25 Jun 2022 02:39:00 +0000 https://albaruthenicae.info/mumbai-man-harassed-by-officers-goes-missing/ The man from Taloja, 34, had taken out a small loan; family receiving rape threats, mother and sister branded as sex workers Absence of Suhas Jagdale Threat of loan application rages on as 34-year-old man from Taloja, Navi Mumbai, has now disappeared after constant harassment from theoan […]]]>

The man from Taloja, 34, had taken out a small loan; family receiving rape threats, mother and sister branded as sex workers


Absence of Suhas Jagdale






Threat of loan application rages on as 34-year-old man from Taloja, Navi Mumbai, has now disappeared after constant harassment from theoan recovery agents. Her family members, her mother and sister, are receiving rape threats while her photos have been altered and shared with her contacts. Some of the messages sent by debt collectors also indicated that the borrower’s mother and sister were available for paid sex so he could repay the loan.

The borrower, Suhas Jagdale, worked as a delivery man and had been upset for a few days. His sister said at midday: “On Friday, a day before he disappeared, he told me that he had downloaded an application, following which he started to receive messages asking him to repay a loan. . He left on Saturday morning saying he would be back in two days. But he didn’t come back and his number is also off. We registered a missing report with the Taloja police.

Also Read: Now Handbook For Mumbai Cops On Loan Application Management

Borrower's sister urged Navi Mumbai Police to take note of their plight and end the nightmare.  Representation photoBorrower’s sister urged Navi Mumbai Police to take note of their plight and end the nightmare. Representation photo

Asked about the harassment, she said: “Even I get abusive messages. They send messages to others saying my mom and I are available for sex. I can’t even begin to tell you about the trauma we are going through.

She added that some of their relatives also received messages that Jagdale raped an underage girl and ran away. Another post, which contained a morphed photo of Jagdale, said he was looking to have sex with men for money. In another message, the agents even wrote that Jagdale had listed the recipient of the message as an emergency contact and therefore if Jagdale did not repay the loan, the recipient should.

“I urge the police to take this seriously and help us locate our brother and end this nightmare,” she said.

Jitendra Sonawane, Senior Inspector at Taloja Police Station, said: “We have already registered a missing complaint and are working to find him. We will also register an FIR based on abusive and vulgar messages received by the missing person’s sister.








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Biden administration agrees to forgive student debt for 200,000 borrowers who say they were defrauded https://albaruthenicae.info/biden-administration-agrees-to-forgive-student-debt-for-200000-borrowers-who-say-they-were-defrauded/ Thu, 23 Jun 2022 02:41:41 +0000 https://albaruthenicae.info/biden-administration-agrees-to-forgive-student-debt-for-200000-borrowers-who-say-they-were-defrauded/ The class action lawsuit accused the Trump administration — and later the Biden administration — of unlawfully delaying for years any action on the applications borrowers filed with the Department of Education for debt relief. Under the proposed deal, which still needs to be approved by a judge, the Biden administration would forgive the student […]]]>

The class action lawsuit accused the Trump administration — and later the Biden administration — of unlawfully delaying for years any action on the applications borrowers filed with the Department of Education for debt relief.

Under the proposed deal, which still needs to be approved by a judge, the Biden administration would forgive the student loan debts of hundreds of thousands of borrowers who have already filed a claim against one of 50 colleges, most for profit. These borrowers would also receive a refund of payments they have already made under the agreement.

About 74,000 of the borrowers are those whose applications had been denied during the final years of the Trump administration. These large-scale denials scuttled a previous settlement in the case after a judge 2020 blasted the rulings as lacking sufficient explanation and “disturbingly Kafkaesque”. The Biden administration has now agreed to reverse those decisions, according to the proposed settlement.

Eileen Connor, director of the Harvard Law School’s Predatory Student Loans Project, which filed the lawsuit, called the proposed settlement a “momentary” settlement that “will provide answers and certainty for borrowers who have fought long and hard for a fair resolution of their borrower defense claims after being deceived by their schools and ignored or even rejected by their government.

“This will not only help secure billions of dollars in debt forgiveness for defrauded students, but will map out a borrower defense process that is fair, just and effective for future borrowers,” Connor said in a statement.

Education Secretary Miguel Cardona said in a statement that he was pleased to have reached “an agreement that will provide billions of dollars in automatic relief to approximately 200,000 borrowers and which we believe will resolve the plaintiffs’ claims in a manner that is fair and equitable to all parties”. .”

The deal aims to eliminate the large backlog of “borrower defense” claims that predated the Biden administration, but only grew during his tenure.

Full loan discharges for about 200,000 borrowers will clear about three-quarters of pending claims, according to the proposed settlement. The remaining claims – from around 68,000 borrowers – will have to be decided individually by the Department of Education. The Biden administration agreed as part of the agreement to resolve those remaining claims within six to 30 months, depending on how long the claim is pending.

It is unclear whether the Department of Education will seek to recoup some of the cost of canceling the loans from these institutions or whether department officials have made any findings of misconduct against the schools or their owners.

Loan relief under the settlement is limited to borrowers who have already filed an application with the Department of Education. A remaining question is whether the agency will take steps to extend relief to borrowers who attended schools concurrently but did not file borrower defense claims.

The proposed settlement follows Vice President Kamala Harris’ announcement earlier this month that the Department of Education would forgive all of the remaining $5.8 billion in student loan debt for 560,000 borrowers who attended the now defunct Corinthian Colleges for-profit school chain – on the same grounds that borrowers were defrauded.

But the deal also comes after months of incremental frustrations over how the Biden administration handled the backlog of claims that predated his tenure but have continued to grow. Two additional chases were filed against the Biden and Cardona administration in recent months, accusing the Department of Education of illegally blocking advocacy groups.

Progressives were disappointed that the Biden administration continued to defend itself against the lawsuit challenging the delays. And they were especially appalled that the Justice Department sided with lawyers for former Education Secretary Betsy DeVos in arguing that DeVos should not be required to testify in the case.

The 9th Circuit Court of Appeals ruled in February in a 2-1 decision that DeVos could not be compelled to sit for a deposition in the case.

The appeals court ruled that the DeVos education department acted in bad faith by denying large amounts of loan forgiveness requests, but ruled the case did not meet the high standards to compel the testimony from a former Cabinet Secretary.

The Ministry of Education and the plaintiffs in the case have asked the judge handling the case to hold a July 28 hearing on the settlement.

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Find out how to check your CIBIL score and 5 ways to improve your score https://albaruthenicae.info/find-out-how-to-check-your-cibil-score-and-5-ways-to-improve-your-score/ Tue, 21 Jun 2022 07:01:45 +0000 https://albaruthenicae.info/find-out-how-to-check-your-cibil-score-and-5-ways-to-improve-your-score/ Unless it’s an emergency, you should always be aware of your credit score. Checking before applying can help you avoid submitting an application with a high probability of rejection. Additionally, checking your CIBIL score often helps you stay on top of any discrepancies or errors in your profile. Often these can be a sign of […]]]>

Unless it’s an emergency, you should always be aware of your credit score. Checking before applying can help you avoid submitting an application with a high probability of rejection. Additionally, checking your CIBIL score often helps you stay on top of any discrepancies or errors in your profile. Often these can be a sign of cheating and only through frequent monitoring can you stay ahead of the game and challenge issues before they escalate. All of these practices are essential to maintaining a good CIBIL score, but what does your score indicate? For answers to this question and how to check CIBIL score, build and maintain a good score, read on.

How to check the CIBIL score?

With several platforms offering free CIBIL Score verification solutions, it is possible to complete the process online in minutes. You can either log in to the CIBIL website to check your credit score or use other service providers and financial institution tools for a free CIBIL Score check. You will need to fill out a simple form with your details. This will include your name, date of birth, ID, contact number, address, income, and other additional information. Once you have access to your CIBIL score and credit report, read carefully to notice errors and understand the factors that influence your score.

What is a good CIBIL score?

TransUnion CIBIL is one of the best credit rating companies that calculates your credit score. It takes into account information sent by various financial institutions to generate your credit score. CIBIL considers four important factors, including your repayment history, credit usage, credit applications, and the types of credit you have. Each of these factors represents a certain percentage of your CIBIL score. Generally, a CIBIL score of 850 and above is excellent and implies high creditworthiness.

Subsequently, a CIBIL score between 750 and 849 is excellent for your creditworthiness and a score between 700 and 749 is considered good. During a credit score check, if your score is below 650, you should analyze and take the necessary steps to improve your score.

A way to increase and maintain the CIBIL score

  • Make timely repayment to create a good balance sheet

Your past credit behavior plays a crucial role in determining your CIBIL score. By paying your EMIs regularly and on time, you can improve your credit score. Not only that, timely reimbursement helps you avoid late fee payments. If you have multiple IMEs and are having trouble keeping track of your payment, you can set automatic payment or reminders.

  • Do not close old accounts and present a long history

Having a long credit history helps you display consistent behavior, which can improve your credit score. But it’s important to make sure your oldest account has a positive impact rather than a negative one. This means that if you have old credit and haven’t paid the dues, it’s wise to pay the amount and close your account. On the other hand, if a credit account shows good repayment behavior, you should not close it. Additionally, keeping your oldest account active also helps you maintain a good relationship with the financial institution. This can come in handy when you want to apply for a new line of credit or a loan.

  • Maintain a good credit utilization rate

The credit utilization ratio refers to the amount of credit you are using compared to the available limit. A high utilization rate can have a negative impact on your CIBIL score. As a general rule, you should maintain your ratio at 30%. If you have a credit limit of Rs. 1 lakh, do not exceed the Rs. 30,000 mark. Using a higher percentage of your assigned credit will cause your score to drop.

  • Avoid displaying credit-greedy behavior by making multiple new applications

Applying for new credit in a short time has several disadvantages. First of all, each new application momentarily reduces your CIBIL Score. So multiple applications will cause a noticeable drop. Second, these inquiries in your CIBIL profile are logged and lenders can view this history. Applicants with multiple inquiries in a short period of time are considered credit-hungry people. This is a red flag for most lenders, and many are less likely to approve your application.

  • Monitor your credit report

It is essential that you check and review your credit report regularly. Indeed, it allows you to make the right decisions and the right actions at the right time. Also, as mentioned above, it can help you spot any misinformation or discrepancies in your report. These can lower your CIBIL score, especially if it is a reporting error made by your lender. During a CIBIL score check, free downloadable report options are available. Use them to get a detailed overview of your account. Remember that you can only get one free CIBIL Score check per year.

With the right metrics, you can easily improve your CIBIL score and get the most out of it. With discipline and the right credit management habits, you can increase and maintain a good CIBIL score in no time. Additionally, knowing how to increase CIBIL score is helpful because it teaches common mistakes to avoid. Remember that an excellent CIBIL score is a huge advantage for any borrower, as it not only gives access to the best offers from the best lenders, but also guarantees easy access to funds through pre-approved offers.

Disclaimer: This article is a paid publication and does not involve any journalistic/editorial involvement of the Hindustan Times. Hindustan Times does not endorse/endorse the content(s) of the article/advertisement and/or opinions expressed herein. Hindustan Times shall not be in any way responsible and/or liable in any way whatsoever for anything stated in the article and/or also with respect to the view(s), opinion(s) ), announcement(s), statement(s), affirmation(s) etc., stated/presented in the same.

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Department of Higher Education accepting loan applications https://albaruthenicae.info/department-of-higher-education-accepting-loan-applications/ Sat, 18 Jun 2022 18:16:38 +0000 https://albaruthenicae.info/department-of-higher-education-accepting-loan-applications/ The New Mexico State Department of Higher Education announced this week that it is accepting applications for its 2022 Teacher Loan Repayment Program, which is designed to help pay off some of the student loan burden. federal funds that veteran teachers have hired to pay for their education. Higher Education Secretary Stephanie Rodriguez said in […]]]>

The New Mexico State Department of Higher Education announced this week that it is accepting applications for its 2022 Teacher Loan Repayment Program, which is designed to help pay off some of the student loan burden. federal funds that veteran teachers have hired to pay for their education.

Higher Education Secretary Stephanie Rodriguez said in an interview Thursday that this program, which started in 2001, has grown since 2019 by $3 million and that this year the fund available to applicants is growing. at $5 million.

Rodriguez said the program is for teachers who have taught in New Mexico schools for three years and plan to stay for another two years.

Students now attending college to become teachers are eligible for New Mexico Opportunity and Lottery scholarships, Governor Michelle Lujan Grisham said in the news release.

Opportunity and lottery scholarships were not available when many veteran teachers went to college, the secretary said.

An opportunity scholarship complements the lottery scholarship, the statement said. “By supplementing the Lottery Scholarship with the Opportunity Scholarship, students will pay no tuition or fees at any of the state’s 29 public institutions of higher learning…”

“New Mexico Licensed Teachers Working in Needy Areas and Schools

the entire state may be eligible (through the Teacher Loan Repayment Program) for up to $6,000 per year for two years for principal debt and interest on federal student loans related to teacher training” , the statement said.

The secretary said 105 teachers applied for the loan repayment program in fiscal year 2021 and 604 applied in fiscal year 2022, including 100 the previous year.

New Mexico has one of the lowest tuition rates in the country, Rodriguez said. To help teachers, the state this year raised the salaries of its teachers at Tiers 1, 2, and 3 to $50,000, $60,000, and $70,000 per year. “(New Mexico) has one of the highest salaries (for teachers) in the region.”

“The Teacher Loan Repayment Program is a great initiative to help highly qualified teachers from all walks of life get in and stay where they want to be – in the classroom,” the Public Education Secretary said. , Kurt Steinhaus, in the press release. “Between increasing teacher salaries and teacher support programs like this, this administration is working to ensure that educators are compensated for the critical contributions they make every day in our state.”

“The award may be renewed for additional two-year cycles if the recipient continues to fulfill their teaching commitment,” as stated in the release. “Preference is also given to teachers with a New Mexico college or university degree and teachers from underrepresented backgrounds. Teachers with the Federal Teacher Loan Forgiveness program can concurrently benefit from the New Mexico program.

“Applications for the program must be submitted by 5 p.m. on Monday, August 1 and can be completed electronically through the New Mexico Higher Education

Department’s website at hed.state.nm.us,” the statement read. “Interested teachers can also contact the agency by email at [email protected] or through a toll-free helpline at 1-800-279-9777.

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Tech services company owner sentenced to more than three years in prison for $13 million COVID fraud scheme | USAO-MA https://albaruthenicae.info/tech-services-company-owner-sentenced-to-more-than-three-years-in-prison-for-13-million-covid-fraud-scheme-usao-ma/ Fri, 17 Jun 2022 14:25:19 +0000 https://albaruthenicae.info/tech-services-company-owner-sentenced-to-more-than-three-years-in-prison-for-13-million-covid-fraud-scheme-usao-ma/ BOSTON – A Winchester man was convicted in federal court in Boston yesterday of filing fraudulent loan applications seeking more than $13 million in Small Business Administration (SBA) guaranteed forgivable loans for COVID relief -19 through the Paycheck Protection Program (PPP) under the CARES (Coronavirus Aid, Relief and Economic Security) Act. Elijah Majak Buoi, 40, […]]]>

BOSTON – A Winchester man was convicted in federal court in Boston yesterday of filing fraudulent loan applications seeking more than $13 million in Small Business Administration (SBA) guaranteed forgivable loans for COVID relief -19 through the Paycheck Protection Program (PPP) under the CARES (Coronavirus Aid, Relief and Economic Security) Act.

Elijah Majak Buoi, 40, was sentenced by U.S. District Court Chief Judge F. Dennis Saylor IV to 39 months in prison and three years on probation. Buoi was also ordered to pay $2 million restitution and $2 million forfeiture. On February 24, 2022, Buoi was found guilty by a federal jury of four counts of wire fraud and one count of misrepresentation to a financial institution.

Beginning in or around April 2020, and continuing through or around June 2020, Buoi devised a scheme to obtain PPP funds by repeatedly filing false and fraudulent loan applications in which he systematically used fake tax documents and payroll processing records until finally granted a loan.

Buoi submitted six fraudulent PPP loan applications on behalf of his company Sosuda Tech, LLC (Sosuda) to four different SBA-approved lenders. In each loan application, Buoi misrepresented the number of employees and salary expenses. Buoi also submitted fraudulent IRS tax forms in support of his claims. Evidence at trial showed that Sosuda was a start-up with no US-based payroll or employees. As a result of his scheme, Buoi secured a $2 million PPP loan. The government recovered approximately $1.97 million of the loan funds.

The CARES Act is a federal law enacted on March 29, 2020, designed to provide emergency financial assistance to millions of Americans who are suffering from the economic effects caused by the COVID-19 pandemic. One of the sources of relief provided by the CARES Act was the authorization of up to $349 billion in small business forgivable loans for job retention and certain other expenses, through the PPP. . In April 2020, Congress authorized over $300 billion in additional PPP funding.

The PPP allows small businesses and other eligible organizations to receive loans with a term of two years and an interest rate of 1%. PPP loan proceeds are to be used by businesses for payroll costs, mortgage interest, rent and utilities. The PPP allows for the interest and principal of the PPP loan to be forgiven if companies spend the proceeds of these expenses within a specified period of time and use at least a certain percentage of the loan for payroll expenses.

United States Attorney Rachael S. Rollins; Assistant Attorney General Kenneth A. Polite Jr. of the Justice Department’s Criminal Division; Joseph R. Bonavolonta, special agent in charge of the Federal Bureau of Investigation, Boston Division; Joleen D. Simpson, special agent in charge of criminal investigation for the Internal Revenue Service in Boston; Stephen Donnelly, Acting Special Agent in Charge, Eastern Region, Office of Inspector General of the Board of Governors of the Federal Reserve System and Bureau of Consumer Financial Protection; Amaleka McCall-Brathwaite, Special Agent in Charge of the Small Business Association, Office of the Inspector General, Eastern Regional Office; and Patricia Tarasca, Special Agent in Charge of the Office of the Inspector General of the Federal Deposit Insurance Corporation, New York Region, made the announcement today. Assistant U.S. Attorney Mackenzie A. Queenin of Rollins’ Securities, Finance, and Cyber ​​Fraud Unit and General Counsel Della Sentilles of the Criminal Division’s Fraud Section prosecuted the case.

On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to mobilize Department of Justice resources in partnership with government agencies to scale up enforcement and prevention efforts. pandemic-related fraud. The task force strengthens efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies administering relief programs to prevent fraud, among other methods, by increasing and integrating coordination mechanisms existing ones, identifying resources and techniques to uncover fraudulent actors and their agendas, and sharing and leveraging information and knowledge gained from previous enforcement efforts. For more information about the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

Anyone with information about alleged attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) hotline at 866-720-5721 or via NCDF’s online complaint form at: https://www. .justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

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Halder approved no-demand loans https://albaruthenicae.info/halder-approved-no-demand-loans/ Wed, 15 Jun 2022 18:00:00 +0000 https://albaruthenicae.info/halder-approved-no-demand-loans/ Typically, when a lender receives a loan application, the applicant’s repayment capacity is assessed before signing the loan. But for Reliance Finance, under the leadership of Proshanta Kumar Halder aka PK Halder, it was an afterthought. As chief executive of the non-banking financial institution, Halder was approving loans even before the request arrived. And it […]]]>

Typically, when a lender receives a loan application, the applicant’s repayment capacity is assessed before signing the loan. But for Reliance Finance, under the leadership of Proshanta Kumar Halder aka PK Halder, it was an afterthought.

As chief executive of the non-banking financial institution, Halder was approving loans even before the request arrived. And it wouldn’t be for ridiculous sums.

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It started with a loan of Tk 15 crore for a JK Trade International owned by Irfan Ahmed Khan.

The loan was approved on April 3, 2011, while the loan application was submitted on December 12, 2011, said an Anti-Corruption Commission investigator investigating Halder’s case.

“It’s completely unrealistic and illegal,” said an Anti-Corruption Commission investigator investigating Halder’s case, adding that the loan was sanctioned without any collateral.

And JK Trade was illegally granted a six-month grace period.

“That was his start. After that, he got more desperate and did one loan manipulation after another.”

ACC investigators have not located Irfan.

“We instead found Halder’s friend, Abdul Alim Chowdhury, as the owner of JK Trade.”

Halder also managed a Tk 5 crore loan to a NAM company owned by Abdul Alim.

“Abdul Alim and Halder were friends. Halder started scamming with his friend,” he said.

In total, Abdul Alim took out loans of around Tk 300 crore for his organizations: NAM Corporation, JK Trade International, Clewiston Accessories, Bharb Metal and RA Chowdhury Enterprize from Reliance through fake documents, according to investigators.

The duo later laundered the sum.

When contacted, ACC Deputy Director Gulshan Anowar Prodhan said they are still investigating the embezzlement at Reliance Finance.

Between 2009 and 2019, he and his associates defrauded about Tk 10,000 crore from four non-banking financial institutions including Reliance Finance, according to ACC investigators.

The other NBFIs are: People’s Leasing and Financial Services, FAS Finance and International Leasing and Financial Services.

The ACC has so far seized Halder’s property worth around Tk 1,000 crore.

In October 2019, when investigators began investigating the embezzlement of NBFI loans, Halder fled Bangladesh.

On May 14, he and his five associates were arrested at Ashok Nagar in North 24 Parganas district.

During interrogation, India’s Law Enforcement Branch uncovered Halder’s connection to bank accounts containing almost Rs 50 crore and seven luxury homes in Malaysia.

Halder is now behind bars in India and faces forgery investigations in the neighboring country.

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