Daily Monitor
Tuesday April 20 2021
A customer in a banking hall. In case the person you guarantee for a loan defaults, you will be liable. PHOTO/file
Summary
When you guarantee someone’s loan, you promise the creditor that the borrower will repay the loan and should he not pay, you will pay on his or her behalf.
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Some people are compelled to help those around them. Sometimes helping can involve food, shelter, medical care and other times sharing the little you have.
In some circumstances, you may not be required to reach your pockets but recommend or guarantee someone to access money either in a bank or through money lenders.
Rosenberg: Budget 2021 is a vote-buying multi-year massive spending binge that Canada is unlikely to afford Published April 20, 2021 Bookmark
Well, let’s call the Canadian federal budget for what it is: a pre-election slate of goodies aimed at regaining the Liberal majority. More than 200 spending initiatives and several brought in during the pandemic are being made permanent, with child care subsidies a major cornerstone.
Spending is now projected to be $165 billion higher in the coming five years than was being assumed in last November’s fiscal statement. Cumulative deficits will add C$686 billion to the debt over this time frame, up from the C$653 billion forecast made five months ago, which means that from 2020-2025 we will have seen Canada’s debt load double. Consider that - in just six years, the Canadian government will be tacking on as much debt to its balance sheet as it did in the prior 152 years combined!
Synopsis
The proceeds from this investment will be channeled to retail households and microentrepreneurs with a household monthly income of less than Rs 25,000, Northern Arc said.
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Over the last year, Northern Arc has raised debt from an array of global development financial institutions and impact-investors such as US International Development Finance Corporation, Asian Development Bank, Calvert Impact Capital.
KOLKATA: Non-bank lender Northern Arc Capital has received Rs 40 crore of debt from
Kotak Mahindra Bank, the company announced Monday. The facility is backed by partial guarantees from Michael & Susan Dell Foundation and Rockefeller Foundation.
The transaction is part of the covid-response package of both these impact institutions, that aims to alleviate the economic and social impact of the pandemic.