Disaster Fund – Gosic http://gosic.org/ Wed, 19 Jan 2022 06:55:33 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://gosic.org/wp-content/uploads/2021/06/icon-2-150x150.png Disaster Fund – Gosic http://gosic.org/ 32 32 Investec will offer private bank customers financing to disconnect with solar energy https://gosic.org/investec-will-offer-private-bank-customers-financing-to-disconnect-with-solar-energy/ Wed, 19 Jan 2022 05:06:43 +0000 https://gosic.org/investec-will-offer-private-bank-customers-financing-to-disconnect-with-solar-energy/

Investec plans to offer its private banking clients financing to install solar panels and battery storage systems in homes, bolstering its own green credentials and providing a power solution in a country regularly hit by blackouts of electricity. (Getty Images)

Investec plans to offer its private banking clients financing to install solar panels and battery storage systems in homes, bolstering its own green credentials and providing a power solution in a country regularly hit by blackouts of electricity.

The offering, which follows a pilot program for 1,000 customers in South Africa, will allow customers to tap unused home loan facilities or advance cash to set up the systems which can cost around $10,000 (around R155,000), or much more depending on the size of the property.

“We plan to give our customers access to multiple vendors and proprietary solutions,” the Johannesburg-based lender said in response to questions. “We can help customers with a range of needs” for individuals and businesses, he said.

Although Investec says the program is in line with its strategy of committing to “net direct zero carbon emissions”, it may also appeal to people in a country that has faced power outages for more than a decade and an increase in rates as an electric utility. struggling to meet demand. State-owned Eskom is seeking permission to raise the cost of its electricity, produced mainly from coal, by 20.5% this year.

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Axis Bank closes in on Citi India’s consumer business https://gosic.org/axis-bank-closes-in-on-citi-indias-consumer-business/ Mon, 17 Jan 2022 11:59:07 +0000 https://gosic.org/axis-bank-closes-in-on-citi-indias-consumer-business/

By Nupur Anand

MUMBAI, Jan 17 (Reuters) – Axis Bank has emerged as the favorite to buy Citi’s consumer business in India, which is valued at around $1.5 billion in a planned deal that is expected to take place this month, according to two sources with direct knowledge of the matter.

Another Indian lender, Kotak Mahindra Bank is still in the running but has submitted a lower bid to Axis Bank and therefore ranks second in Citi’s order of preference, the sources told Reuters.

Citi India, Axis Bank and Kotak Mahindra Bank did not immediately respond to requests for comment.

Wall Street giant Citi said last year it would exit its consumer franchises in 13 markets, including India, as it refocuses on its more lucrative institutional and wealth management businesses. Its consumer banking business in India includes credit cards, home loans and retail banking.

The acquisition of the assets would bolster the premium credit card and mortgage businesses of Axis Bank, India’s third-largest private lender, ICICI Direct analysts said in a note.

“Acquiring Citi’s retail business in India would further help Axis Bank expand its reach and create more opportunities,” they added.

Citi has been present in India for decades and was among the first banks to introduce Indians to credit cards in 1987.

It had a portfolio of 2.57 million credit cards in the country in November, according to India’s central bank, while Axis Bank’s card portfolio exceeded 7.9 million. Even though Axis has more cards, Citi reported higher spending per card.

Citi’s total retail loan portfolio in India was 216 billion rupees ($2.91 billion) for 2021, Systematix Institutional Equities said in a report last month.

($1 = 74.2350 Indian rupees) (Reporting by Nupur Anand; Editing by Pravin Char)

Heading to bankruptcy court? https://gosic.org/heading-to-bankruptcy-court/ Sat, 15 Jan 2022 11:43:00 +0000 https://gosic.org/heading-to-bankruptcy-court/

When is good news not necessarily good news? The number of bankruptcy filings has dropped significantly in the United States. This seems like good news. But is it?

According to a recent CNBC report, there were 434,540 bankruptcy filings in the United States in 2021, for the year ending 9/30/21. This compares to 776,674 filings in 2019, just before the onset of the COVID pandemic, a decrease of 45%. Total bankruptcy filings in 2021 were actually the lowest since 1985.

Sounds like good news, doesn’t it? Although there was a decrease in corporate filings, the dramatic decrease was recorded in bankruptcy filings by individuals. So your average American must have been wiser and more careful with their finances than in the past. In 2021, they must have been better able to live on their income and avoid unpaid debts that would lead to bankruptcy.

So, despite COVID, bankruptcy filings in the United States have declined by almost fifty percent over the past two years. Instead of, despite COVID, perhaps the dramatic decrease is due to COVID, or, more specifically, the government’s response to the pandemic. CNBC’s report gave three ways the government has helped keep the number of bankruptcies low. These were lender forbearance, low interest rates and, probably most importantly, direct government payments.

Forbearance of the lender. Several government programs have been enacted during the pandemic to delay payments to creditors. There was a moratorium on tenant evictions. Landlords could not evict tenants solely for non-payment of rent, or charge interest or late payment penalties. Rent is still due, but there are also rental assistance programs.

There was also forbearance in the pause in student loan repayments. This includes a suspension of loan repayments, payment of interest at 0% and a halt in the collection of delinquent loans. The average student now owes about $30,000 in student loans when they graduate from college. It does not eliminate the debt, it only suspends it, which has been extended until May 1, 2022.

Low interest rates. Persistently low interest rates orchestrated by the Federal Reserve have limited payments to borrowers. Lower payments kept borrowers from taking on more debt. But with prices soaring, the Fed has signaled interest rates will rise this year in hopes of curbing inflation.

Direct government payments. The most obvious were the stimulus checks most Americans received in April 2020, January 2021, and March 2021. These checks put thousands more dollars in the pockets of American families. Then there were changes to the child tax credit that increased it by $1,000 per child and issued payments during the year. There was also the Paycheck Protection Program which sent nearly a trillion dollars to businesses during the pandemic.

All the money sent to taxpayers and businesses due to the pandemic has likely helped many people avoid bankruptcy over the past couple of years. But the money provided was money the US government didn’t have, while running a deficit of more than $2 trillion over the two years and a total US debt of nearly $30 trillion. .

But there is also another problem. It seems like a lot of people have gotten used to getting extra money from the government. But what if that extra money no longer comes

in? Interest rates are rising, so the cost of borrowing will go up. Rent will be due, house payments will need to be paid, and these student loans are still outstanding, although many hope these loans will be forgiven.

But, among many in Washington, there is no desire for more COVID financial assistance. Economists know that all the money pumped into the economy has helped cause the inflation we face today, and more will only make it worse. So where will that leave anyone who has grown accustomed to these extra government freebies? Hopefully it’s not on the way to bankruptcy court.

Mac McPhail, raised in Sampson County, lives in Clinton. McPhail’s new book, “Wandering Thoughts from a Wondering Mind,” a collection of his favorite chronicles, is available for purchase at the Sampson Independent office, online at Amazon, or by contacting McPhail at [email protected]

Wholesale real estate: a beginner’s guide https://gosic.org/wholesale-real-estate-a-beginners-guide/ Fri, 14 Jan 2022 00:11:42 +0000 https://gosic.org/wholesale-real-estate-a-beginners-guide/

How to Wholesale Real Estate: Step by Step

The first part of wholesale real estate is setting up your business. In the United States, this means that you will probably start by setting up a limited liability company (LLC) to manage your wholesale real estate business.

Once you’ve done that, you’re ready to jump into the real estate market and look for investment properties. Follow these steps to get into the wholesale real estate game.

1. Find a distressed property or a motivated seller

For wholesale real estate to work, you need to find motivated sellers of distressed properties. These sellers want to sell the property quickly and don’t want to use the normal channels of a real estate agent, mortgage lender, deposits and home inspections or appraisals.

Instead, they want to sell to a cash buyer who can close the property quickly before going into foreclosure. Motivated sellers usually sell the property for less than market value because they want to vacate the house quickly.

If you offer a price far enough below market value, you have enough room to put the house under contract at a higher price with your team of investors. This is important, so you make a profit or “finder’s fee” for facilitating the transaction.

Finding the owner of distressed properties requires selling yourself through direct mail, social media, and even word of mouth as a distressed property cash buyer. The more people who know about your services, the more houses you will have available to contract.

2. Negotiate with the seller

When you find the right property, it’s time to negotiate a deal with the seller. This is one of the most important steps in the process. If you bid too high, you won’t leave a profit margin when you sell the contract to the end investor. If you don’t bid enough, the seller may reject your bid.

When negotiating a real estate purchase agreement with the seller, be professional, courteous and give the seller reason to trust you. Tell the seller about your experience and how many other sellers you’ve helped avoid foreclosure or mortgage default longer.

It is also important to have a keen eye for detail. As you walk through the house, you need to say what improvements the house needs so you can use that in your negotiation, telling the seller how much money it will cost to fix the house to help you negotiate a lower rate .

The less you agree to pay the seller, the easier it can be to find investors who see it as a profit opportunity.

3. Sign the contract

Once you agree on a price with the seller, draft a wholesale contract. You can hire a lawyer or real estate agent to do this, or write one yourself. You’ll save more money if you do it yourself, but you run the risk of something going wrong. If you are unfamiliar with real estate contracts, consulting a lawyer may be a good idea.

4. Find an end buyer

To find an end buyer, you will need to rely on your network of real estate investors. While you may not know someone directly who is interested, someone you know may know someone. Build your network through social media and local real estate dating.

As you build your real estate wholesale business, you will build a group of real estate investors who will buy the properties you find. It is the final buyer or the person who will take possession of the property.

5. Negotiate with the buyer

Just as you negotiate the price with the seller, you will then negotiate with the end buyer how much you can earn on the sale of the contract. This is where you negotiate your transaction fees. This can be a standard fee that you charge or something specific that you and the buyer agree on.

6. Award the contract

To assign the contract you signed with the seller to the buyer, you must complete a Contract Assignment Agreement.

This agreement states that you assign the contract you signed with the seller to your end buyer for the agreed amount. The amount stated in the contract is the difference between the amount you agreed to pay the seller and the buyer’s agreement to pay you for the house.

The buyer agrees to buy the house and take possession of it. You (the seller) agree to accept the fee as an assignment of contract, giving you no rights to the house.

7. Close the deal

The final step is settlement. This is when all parties sign the documents, transferring the deed to the end buyer. The wholesaler (you) does not have to pay out of pocket. The end buyer pays all closing costs and the cost of the home. You pass the money on to the seller keeping only your profit or the difference between your selling price and the price you agreed with the end buyer.

LIQUIDIA CORP: Entering into a Material Definitive Agreement, Creation of a Direct Financial Obligation or Obligation under a Registrant’s Off-Balance Sheet Arrangement, Financial Statements and Supporting Documentation (Form 8-K) https://gosic.org/liquidia-corp-entering-into-a-material-definitive-agreement-creation-of-a-direct-financial-obligation-or-obligation-under-a-registrants-off-balance-sheet-arrangement-financial-statements-and-suppo/ Tue, 11 Jan 2022 21:19:11 +0000 https://gosic.org/liquidia-corp-entering-into-a-material-definitive-agreement-creation-of-a-direct-financial-obligation-or-obligation-under-a-registrants-off-balance-sheet-arrangement-financial-statements-and-suppo/

Article 1.01 Entry into an important final agreement.

Effective January 7, 2021 (the “Effective Date”) Liquidia Corporation, a
Delaware company (the “Company”) has entered into an amended and updated loan and guarantee agreement (the “Loan Agreement”) by and between the Company, Silicon Valley Bank, a California company (“SVB”), in its capacity as administrative agent and guarantee agent, Silicon Valley Bank, a California company, as a lender and SVB Innovation Credit Fund VIII, LP, a Delaware limited partnership (“Innovation”), as a lender (SVB and Innovation collectively the “Lenders” and each individually a “Lender”). The loan agreement amended and reaffirmed that certain loan and guarantee agreements dated February 26, 2021, as amended, by and between the Company and SVB (the “Prior Agreement”).

The Loan Agreement grants the Company up to $ 40.0 million in term loans, the first of which $ 20.0 million was funded on the effective date. The prior agreement provided for up to $ 20.5 million in term loans including $ 10.5 million
had been funded on the effective date.

Under the New Loan Facility, the Lender will grant loans in three tranches. The proceeds of the first tranche of $ 20.0 million were used to repay outstanding loans under the prior agreement and adds $ 9.5 million cash flow on the Company’s balance sheet. The first tranche also offers the possibility of drawing an additional amount $ 5.0 million at the discretion of the Company by December 31, 2022. A second installment of $ 7.5 million is available for funding upon receipt of final and unconditional approval of YUTREPIA ™ Inhalation Powder (Treprostinil) by December 31, 2022. The third installment of $ 7.5 million will be available via August 31, 2023, after having generated net sales of products over the last six months of YUTREPIA of $ 27.5 million through June 30, 2023. The loan facility will mature on December 1, 2025 and will consist of interest payments only by December 31, 2023, unless the milestone of the third tranche is reached, in which case the interest-only payments will continue until
December 31, 2024. The principal amount outstanding on term loans will bear interest at an annual variable rate equal to the greater of (1) seven and a quarter one percent (7.25%) and (2) the annual interest rate from time to time published in the monetary rates section of The Wall Street Journal plus four percent (4.0%).

Under the terms of the loan agreement, the Company has granted to the agent, for the proportional benefit of the lenders, to guarantee the payment and the full performance of all the obligations set out in the loan agreement, a continuing security pledged to the agent, for the benefit of the lenders, the collateral (as defined below), wherever it is located, whether currently held or acquired or resulting, and all products and products thereof.

For the purposes of the Loan Agreement, “guarantee” means all of the Company’s rights, title and interest in the following personal property: (i) all property, accounts (including health care receivables), ” equipment, inventory, contractual rights or rights to payment of money, leases, license agreements, franchise agreements, general intangibles (except as provided below), commercial tort claims, documents, instruments ( including promissory notes), movable effects (physical or electronic), cash, deposit accounts, certificates of deposit, arrangements, rights to letters of credit (whether or not the letter of credit is embodied in writing), securities, securities accounts, rights to securities and all other investment property, supporting obligations and financial assets, whether they are currently held or acquired below, wherever they are located; and (ii) all company records relating to the foregoing, and all claims, rights and interests in any of the above and all substitutions, additions, attachments, accessories, acquisitions and improvements and replacements , products, products and insurance products of all or part of the foregoing. All defined terms used in this paragraph have the definitions assigned to that term in the Uniform Commercial Code.

As with the previous Agreement, the Loan Agreement contains customary covenants, positive and negative, including, but not limited to, certain financial covenants, the protection of intellectual property rights and the disposition of certain assets.

As an incentive to enter into the Loan Agreement, from the Effective Date, the Company issued to each of SVB, Innovation and VIII-A LP Innovation Credit Fund (“Innovation Credit”). certain warrants to purchase ordinary shares of the Company in accordance with the share subscription agreements entered into by and between the Company and each beneficiary (collectively, the “Warrants”). The granting of warrants under the respective warrants conferred (i) on SVB the initial right to obtain 125,000 shares of the Company at an exercise price of $ 5.14 one share, and there is an opportunity for SVB to obtain up to 50,000 additional warrants on the basis of certain loans that may be granted under the loan agreement, (ii) Innovation with the initial right to obtain 62,500 Company shares at an exercise price of $ 5.14 one share, and there is an opportunity for Innovation to obtain up to 25,000 additional warrants based on certain loans that may be granted under the Loan Agreement, and (iii) Innovation Credit with the right initial purchase of 62,500 Company shares at an exercise price of
$ 5.14 one share, and Innovation Credit has the option of obtaining up to 25,000 additional warrants based on certain loans that may be made under the loan agreement. The warrants provide an option for a cashless exercise.

The description of the terms of the Loan Agreement and the Warrants is qualified in its entirety by the full text of each agreement filed attached as Exhibit 1.1, Exhibit 1.2, Exhibit 1.3 and Exhibit 1.4 and incorporated herein by reference. .

Item 2.03    Creation of a Direct Financial Obligation or an Obligation under an
             Off-Balance Sheet Arrangement of a Registrant.

The information to be reported under this Item 2.03 is incorporated by reference from Item 1.01 of this current report on Form 8-K.

Item 9.01 Financial statements and supporting documents.

(d) The exhibits listed in the exhibits index below are filed as part of this current report on Form 8-K.

No.                                        Exhibit
  4.1        Warrant to Purchase Stock, dated as of January 7, 2022, by and
           between the Company and Silicon Valley Bank.
  4.2        Warrant to Purchase Stock, dated as of January 7, 2022, by and
           between the Company and SVB Innovation Credit Fund VIII, L.P.
  4.3        Warrant to Purchase Stock, dated as of January 7, 2022, by and
           between the Company and Innovation Credit Fund VIII-A L.P.
  10.1       Amended and Restated Loan and Security Agreement, dated as of
           January 7, 2022, by and among the Company, Silicon Valley Bank and SVB
           Innovation Credit Fund VIII, L.P.
  99.1       Press Release of Liquidia Corporation, dated January 7, 2022.
104        Cover Page Interactive Data File (embedded within the Inline XBRL

© Edgar online, source Previews

Geneva Financial announces primary sponsorship of the Jamaican Olympic Ice Hockey Federation https://gosic.org/geneva-financial-announces-primary-sponsorship-of-the-jamaican-olympic-ice-hockey-federation/ Mon, 10 Jan 2022 10:00:00 +0000 https://gosic.org/geneva-financial-announces-primary-sponsorship-of-the-jamaican-olympic-ice-hockey-federation/

CHANDLER, Arizona., January 10, 2022 / PRNewswire / – Geneva Financial Home Loans (Geneva), a direct mortgage lender headquartered in Chandler, Arizona with more than 130 branches in 46 states, announces that the company will now sponsor the Jamaican Olympic Ice Hockey Federation, a pioneering team in the sport of ice hockey in Jamaica. Founded in 2011 and accepted into the International Ice Hockey Federation (IIHF) in 2012 as an associate member, the JOIHF revolutionized the global understanding of sport and established a more diverse appreciation of the game.

“I am honored and delighted to help support this team. from Geneva the implication and the support will prove to be essential for the progress of the team ” Rachel Caple, Geneva Financial’s director of sales and revenue, said of the sponsorship. “My husband, Sean, is a member of the JOIHF Board of Directors and Director of Hockey Operations, which makes the success of the program all the more personal. Being able to watch this program develop and grow has been gratifying, and I can’t wait to see what they accomplish in the long term. “

Geneva Financial is built around the premise that humans support humans, and this opportunity to support a team that has accomplished so much, winning international championships and heading to the 2030 Winter Olympics for the very first time, was within reach. do not miss. . In order for the team to be successful, they must meet certain qualifications and receive full IIHF inclusion, requiring an ice rink that they are still building. Sponsorship from Geneva Financial will help support their goals and push the boundaries of what the team can accomplish. Both from Geneva head office at Arizona and one Colorado Branch is committed to sponsoring the group’s goals so far.

If you are looking to join a leading company with a deeply authentic and human-centric culture, Geneva Financial Home Loans is currently expanding in all markets and is looking for team members across United States. Geneva Financial currently has mortgage job offers in 46 states.

About Genève Financière

Founded in 2007 by Aaron Van Trojen, Geneva Financial (NMLS 42056) is a direct mortgage lender with registered office at Chandler, Arizona with over 130 branches in 46 states. Our mission at Geneva Financial is to approach every aspect of our business from the inside out. With a forward-thinking mindset, we focus on our loan originators and support staff first to ensure an unbeatable experience for our clients.

Our core values ​​were created as a daily reminder to operate with the inside-out approach in mind. Core Value # 1 is the backbone of all of our Core Values, Mission, and Brand Vision: Human Powered Home Loans®. Find out more about Geneva financial mortgage real estate loans on www.GenevaFi.com

SOURCE Genève Financière

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How Homeownership Rates Have Changed Over the Past 25 Years Characteristics https://gosic.org/how-homeownership-rates-have-changed-over-the-past-25-years-characteristics/ Sat, 08 Jan 2022 07:00:00 +0000 https://gosic.org/how-homeownership-rates-have-changed-over-the-past-25-years-characteristics/

The housing market tends to take more twists and turns than a rural mountain road, and for good reason. A slight change in an economic or social factor can have a huge impact on the market. Take a look at how the ongoing global pandemic has affected domestic housing markets – or how a recent recession or period of growth has affected the market – for proof.

As the housing market evolves and changes due to outside factors, so do homeownership rates in the United States. But while global conflicts, wars, or recessions can have a big impact on homeownership rates, these events may not have the kinds of impacts you would expect. In fact, the types of events that you think would cause homeownership rates to drop or rise can have exactly opposite effects.

Take, for example, how the years 2004 to 2006 saw some of the highest homeownership rates overall. These high rates of homeownership occurred just a few years after a recession caused by the September 11, 2001 attack in New York City. In theory, the recession and the bombings should have caused homeownership rates to drop due to low consumer confidence, but the opposite has happened.

On the flip side, the years 2015 to 2017 saw some of the lowest home ownership rates, despite the economy being booming and unemployment rates extremely low. It would make sense for a thriving economy to result in high rates of homeownership, but that’s not what happened during this time.

So what exactly is driving the constantly fluctuating homeownership rates across the country? And what events have taken place over the past 25 years to change homeownership rates? Better Mortgage, an online lender and homeownership platform with a mortgage calculator, analyzed data from the US Census Bureau Vacant housing and home ownership data to determine the evolution of homeownership rates over the past 25 years.

This data includes information on homeownership rates for the entire United States, as well as a breakdown by region: Northeast, Midwest, South, and West; age; and the fiscal quarter with the most recent data covering the third quarter of 2021.

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Reltime announces two new IEOs on P2PB2B and IndoEx https://gosic.org/reltime-announces-two-new-ieos-on-p2pb2b-and-indoex/ Thu, 06 Jan 2022 22:49:47 +0000 https://gosic.org/reltime-announces-two-new-ieos-on-p2pb2b-and-indoex/

Reltime is ready to launch its Initial Exchange offer on two platforms P2PB2B and IndoEx. The Reltime DeFi ecosystem is a global financial service fully controlled by end users. Reltime was founded by a team in Norway, El Salvador, Canada and India. Reltime started as a project at King’s College London in 2018. Built on trust, performance and security, the Reltime DeFi (decentralized finance) ecosystem is owned, supported and supported by the world’s leading financial partners, for example , TAG Systems and FSS Tech will help bring the platform to the mass market.

Reltime offers direct P2P and M2P lending, borrowing, free remittance, and joint account services to users, and they are backed by industry experts around the world. The ecosystem creates its own Reltime PoA (Proof of Authority) protocol, which is a blockchain technology that enables faster transactions using an identity-based consensus process. Reltime has been developing the platform with the help of global organizations since 2018 to deliver the service as the first true banking offering based on smart contracts and Blockchain-based dApps.

FRODE VAN DER LAAK is the inventor of the PoA and the Reltime ecosystem. Frode, with a Masters in Software and Systems Security from the University of Oxford, an MPhil from the Faculty of Natural Sciences and Mathematics, and a pending PhD. from King’s College London in DLT. He brings tremendous value to the Reltime team by connecting the distributed ledger to user efficiency interests, as well as inventing patents and patents pending to promote convenience in a telecom and DLT environment. Have filed more than 15 patents. Reltime will go public on a regulated stock exchange, where it will continue to develop new innovations, file patents and integrate new technologies. Reltime will distribute investor funds based on escrow and investor workshop evidence. This workshop is part of Reltime’s request for feedback from investors interested in being a part of this revolutionary invention.

Reltime brings cutting edge technology to Defi

Reltime intends to revolutionize cutting-edge Blockchain technology used in rental and microtransactions. The Reltime Proof of Stake “RPoS” consensus method will provide a decentralized public ledger that is open, scalable, and rapid. The protocol aims to take advantage of the structural qualities of the blockchain to solve the problem of the orphan rate. The ability of RPoS to survive this difficulty and therefore increase scalability depends on additional rules provided to deal with transaction consistency as well as any other design decisions made.

Based on building blocks, the multi-tenant protocol established under the protocol will be simple to adopt en masse. Nevertheless, to be approved by the industry, it must be able to support industry standards, such as Mastercard MCBP.

The Reltime platform provides a variety of services to its users, including low-cost cross-border transactions, peer-to-peer loans where the lender sets interest and terms, payment cards, integrated financial services that provide payments snapshots, expense info, instant loan, zero transaction fees, open APIs, etc. Reltime has partnered with Accubits Technologies, one of the leading blockchain development companies in the market, to create its blockchain components. After the completion of the Reltime Security Token (STO) offering in October 2021, the ecosystem is expected to start in the second quarter of 2022. Reltime is also working on the development of an identity and biometric card for the mass market. .

Real-time loans and key services

Reltime Loan is a peer-to-peer lending platform that allows users of the Reltime app to borrow money from other users. Instant loans backed by crypto assets provide users with short-term liquidity. Users can borrow money from other users by submitting collateral in fiat or cryptocurrency. Borrow fiat or cryptocurrency as collateral. Until the borrower repays the borrowed amount plus interest to the lender, the submitted collateral will be blocked. Reltime allows lenders to publish their RTC tokens on the platform and receive interest payments from borrowers.

Reltime uses advanced DLT technology to provide a DEFI payments ecosystem for B2B and B2B2C transactions worldwide. Reltime’s mission is to rebuild the banking system as a de facto decentralized, automated and regulatory compliant platform. Users can transfer money from one account to another in minutes with minimal transaction fees with Reltime Money Transfer.

The transaction is backed by a stable currency RTC. Suppose a sender in the United States wants to send money from their account to a recipient in India. In this case, the sender can use the Reltime mobile app to purchase RTC Stable Coins and transfer them to the recipient’s wallet. The recipient can convert the RTC tokens they have received into their own money. They are able to complete the transaction within minutes for a small cost.

To learn more about Reltime visit Reltime.com

Social connections:

Twitter: https://twitter.com/Reltimedefi

Telegram string: https://t.me/reltimedefi

Telegram group: https://t.me/reltimedefiecosystem

LinkedIn: https://www.linkedin.com/company/reltimedefi

Media contact:

Company: Reltime AS

Contact: Frode van der Laak

Email: laak@reltime.com

Website: https://reltime.com/


The information provided in this press release is not investment advice, financial advice or business advice. It is recommended that you exercise due diligence (including consulting a professional financial advisor before investing or trading in securities and cryptocurrencies).

Source: Histoire.KISSPR.com

Version number: 125100

There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any title or any other product or service in this article. Further, nothing in this PR should be construed as a recommendation to buy, sell or hold any investment or security, or to engage in any investment strategy or transaction. It is your responsibility to determine whether an investment, investment strategy, security or related transaction is suitable for you based on your investment objectives, financial condition and tolerance for risk. Consult your business advisor, lawyer or tax advisor about your specific business, legal or tax situation.

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Deposits: Four large midsize banks report 10.5-26% yoy rise in third quarter https://gosic.org/deposits-four-large-midsize-banks-report-10-5-26-yoy-rise-in-third-quarter/ Tue, 04 Jan 2022 22:00:00 +0000 https://gosic.org/deposits-four-large-midsize-banks-report-10-5-26-yoy-rise-in-third-quarter/

HDFC Bank deposits increased 13.8% on an annual basis to reach Rs 14.46 lakh crore at the end of December.

Four large and mid-sized banks – HDFC Bank, YES Bank, IDFC First Bank and Bank of Maharashtra – on Tuesday announced a 10.5% to 26% year-over-year (year-on-year) increase in their deposit base for the quarter ended. in December. Excluding YES Bank, all three lenders also saw double-digit growth in their year-on-year advances, based on provisional data.

HDFC Bank deposits increased 13.8% on an annual basis to reach Rs 14.46 lakh crore at the end of December. On a sequential basis, deposits increased 2.8%. Retail deposits increased by almost 17% from last year, while wholesale deposits increased by around 1%. Lender’s low-cost current account and savings account (CASA) deposits amounted to Rs 6.81 lakh crore as of December 31, 2021, up 24.6% year-on-year . As a percentage, the bank’s CASA ratio stood at around 47% as of December 31.

The lender’s total loans rose 16.4% on an annual basis to Rs 12.60 lakh crore during the quarter ended in December, above the industry trend of 7.1%. According to the bank’s internal classification of activities, retail lending increased by about 13.5% on an annual basis, commercial and rural bank lending increased by about 29.5%, and loans to businesses and others wholesale loans increased by about 7.5%. “During the quarter ended December 31, 2021, the Bank purchased loans totaling 74.68 billion rupees (7,468 crore rupees) through the direct assignment route under the mortgage loan agreement with Housing Development Finance Corporation Limited, ”the bank said.

On the other hand, YES Bank’s net advances increased 3.9% year on year and 2.1% sequentially to Rs 1.76 lakh crore at the end of December. The lender’s retail disbursements for the reporting quarter amounted to Rs 9,233 crore. Growth in deposits outpaced growth in credit as the bank reported a 26% year-on-year increase in its total deposit base to Rs 1.84 lakh crore. Of these, CASA deposits stood at Rs 55,997 crore at the end of December. As of December 31, the bank’s credit-to-deposit ratio stood at 95.7%, while the short-term liquidity ratio (LCR) stood at 127%.

In addition, IDFC First Bank reported that its customers’ total deposits increased 10.5% year on year to Rs 85,387 crore at the end of December. The bank’s CASA ratio stands at 51.85% and the average LCR at 150.7%. At the end of December, the lender’s gross financed assets stood at Rs 1.22 lakh crore, up 10.7% year on year. Personal loans, including mortgages, accounted for 51.1% of the lender’s loan portfolio, while loans to businesses and others represented 23.7%. “As of December 31, 2021, the Bank will disaggregate businesses into retail loans, commercial loans, rural loans, infrastructure loans and business loans for better visibility of the underlying portfolio and report the same,” said the lender.

Finally, the Bank of Maharashtra reported a 23% year-over-year increase in its total advances to Rs 1.29 lakh crore at the end of December. The lender’s deposit book stood at Rs 1.86 lakh crore, up 15.21% year on year, with a CASA ratio of 55.1%.

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