Quikrupee, Online Financial Platform

Overview: Every business people at some point in time face a critical financial problem due to the current shortage of working capital to run their business. Entrepreneurs become exhausted in searching for money to continue their business without any loss in production. In order to solve the sudden shortage of money, banks help business people a running credit limit, called as cash credit, popularly known as CC. Cash credit account is normally like a current account which is used by the business people to meet their sudden financial crises. What is Cash credit? Let us consider an example how cash credit helps business people, for that let us consider a factory where the business owner invest money to buy raw materials these raw materials are then converted into finished goods. The intermediary goods are called as work-in-progress. The raw materials, work-in-progress and finished goods together constitute inventories. The business owner’s fund invested as inventories does n...

Overview: Every business people struggles at one point in moving forward in their business is due to financial crises. Financing is required for their daily expenses and meeting daily business requirements. Although short-term business loans are available, businessmen face hassles to get loans at the desired time. These business loans cannot be availed as a standby option, in times of need. Here comes overdraft - a boon to business people. What is Overdraft? Bank  Overdraft is a credit facility given to an individual against his or her  assets  as collateral with banks. Overdraft allows you to draw against your own account, a fixed amount beyond the available bank balance.  As a collateral, one can offer house, insurance policies,  bank fixed deposits ,  securities  etc to banks. Interest rates on overdraft sanctioned by banks vary from customer to customer.  The interest is charged according to the amount drawn from...