CURRENT AFFAIRS

Detailed explanation-1: -EZ Capital to offer Gold Loans alongside Dhanvarsha Finvest Limited. Exclusive Leasing and Finance Private Limited (ELFPL), under the brand name EZ Capital, is a NBFC created for providing credit to low-income households. It is registered in New Delhi with branches in Jalandhar, Ghaziabadand New Delhi.

Detailed explanation-2: -Central Bank of India (CBoI) has entered into a strategic co-lending partnership with Dhanvarsha Finvest Ltd (DFL) to offer loans against gold ornaments under priority sector to Micro, Small and Medium Enterprise (MSME) borrowers at competitive rates.

Detailed explanation-3: -A Gold Loan is when you pledge your gold with a bank or finance company to borrow funds. The loan is provided after testing your gold assets for their purity, and you can get up to 80% of the market value of your gold as a loan.

Detailed explanation-4: -About Dhanvarsha Finvest Company They offer different types of loans such as Loan against property, Business Loan, Personal Loan, etc. Dhanvarsha’s mission started with an idea – an idea to ‘build social capital’ by aiming to provide credit solutions to India’s large underserved and underbanked MSME segment.

Detailed explanation-5: -Note: The applicant has to have a minimum of 10 grams of gold to avail of a Gold Loan.