Presented by International

Global Trade Finance India PVT Ltd

PUNE: India Factoring & Finance Solutions Pvt Ltd, a joint venture of the state-owned Punjab National Bank (PNB), Malta-based FIM Bank Group, Italy- based Banca IFIS, and Blend Financial Services, Mumbai, is expanding its factoring services in Maharashtra for entrepreneurs, small and medium enterprises (SMEs) and small-scale industries. The company will soon starts services in like Pune, Nashik, Nagpur, Aurangabad, a company executive said.

Factoring is a financial transaction where a business sells its accounts receivable for immediate cash to a third party referred to as the 'factor'. The factor finances the receivables, administers the debt and later collects it's at the due date. In a simple sense, if an SME has raised an invoice on its customer with a credit period of 60 days, the SME will sell the invoice to the factor and realise the due amount immediately. The factor will collect the money from the SME's customer at the end of the credit period.

Sudeb Sarbadhikary, CEO of India Factoring, said "Maharashtra has a large potential to grow SMEs and small-scale industries and there is a need for factoring and other trade finance services to support them. In India, SMEs generate the second largest employment opportunity after agriculture and it contributes 40% of the country's export.

India Factoring provides financial solutions to over 200 SMEs and SSIs in Delhi, Mumbai, Chennai, Bangalore, Kolkata, Ahmedabad and Hyderabad.We are committed to developing factoring services which in turn will assist of the growth and efficacy of small scale industries. Growth in SME will result in increase in employment and facilitate GDP growth, Mr Sarbadhikary stated.

In developed markets the factor also provides bad debt protection and it is expected that as the markets evolve in India and proper legislations are enacted similar services will also be available for Indian consumers. According to Factors Chain International, an association of factoring companies worldwide, the market for factoring services is doubling every year since the last five years.

Bankers Want World Economic Government

by Mr_Ps_Ghost

Knowing that greater international trade would help to prevent future wars, and determined to avoid another Great Depression, the delegates signed the Bretton Woods Agreements, creating the International Monetary Fund and the World Bank. It was a big vision, driven by grand historical figures: Winston Churchill, Franklin D Roosevelt and the British economist John Maynard Keynes.
But a system that was designed 64 years ago has, not surprisingly, proved ill equipped to deal with the fiendishly complex practices of 21st-century banking that led to the current worldwide crisis.

SpotOption Expands in Hong Kong to Attract More Chinese Binary Brokers  — Forex Magnates
The huge Chinese market has been the major growth factor in the business expansion plans of many brokers and technology providers in the global financial trading industry.

Related Posts