Business & Finance Journal

Personal loans are a prominent financial instrument that can give people easy access to money when they need it most. Personal loans can be a helpful tool if you need to pay for unforeseen expenses, consolidate debt, or finance a home improvement project. In this article, we'll examine 6 key benefits of personal loans and how they could help borrowers in reaching their financial objectives. 1. Flexible Usage One of the primary advantages of personal loans is their versatility. Unlike specific-purpose loans like auto loans or home loans, personal loans can be used for a variety of purposes. Whether you need to pay off high-interest credit card debt, finance a dream vacation, or cover medical expenses, a personal loan can provide the necessary funds without any restrictions on how you use them. 2. Quick and Convenient Access to Funds When faced with urgent financial needs, personal loans can offer a fast and hassle-free solution. Many lenders provide quick approval processes, allowi...

Non-Banking Financial Companies (NBFCs) have been instrumental in driving the growth of the Indian economy. In recent years, these entities have proliferated dramatically and become the preferred source of credit for several small businesses and individuals. Here are five factors that have led to the growth of NBFCs in India. 1. Regulatory Challenges Faced By Banks Stringent regulatory norms for banks have compelled them to adopt a cautious approach with regard to lending. This has resulted in a credit gap that NBFCs have been able to fill effectively. It has been observed that the credit-deposit ratio of banks has been declining over the years, providing ample opportunities for NBFCs to capture a significant share of the lending market. Also Read: Understanding The Role And Functions Of NBFC In India 2. Favourable Demographics India’s population is the second-largest in the world and is expected to increase at a steady pace. The country’s economy is poised to grow at a robust rate whi...