SIDBI Inland Letter of Credit (INLC) Scheme

SIDBI Inland Letter of Credit (INLC) Scheme To facilitate the flow of credit to Micro, Small, and Medium Enterprises for meeting credit needs, the Small Industrial Development Bank of India (SIDBI) has launched the SIDBI Inland Letter of Credit (INLC)…

Credit Score

Credit Score Credit score comprises of a three digit numeric value which signifies the creditworthiness of a particular individual. The range of creditworthiness starts from 300 to 900 with 300 being the least and 900 being the highest. A Credit…

Letter of Credit

Letter of Credit A Letter of Credit (LC) is a legal document that is issued by the bank that acts as an irrevocable guarantee in making payment to a beneficiary. When an individual fails to perform the required obligations, the bank…

Types of Letter of Credit

Types of Letter of Credit A letter of credit is an assured form of payment which is widely used by businesses in trade transactions. In a Letter of Credit (LC) transaction, a bank undertakes to make payment to a seller…