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  • Kumar & Co..: Cia-I Entrepreneurship Assignment-I Business Plan

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    Rohit Mittal
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    Kumar & Co aims to provide loans to rural Indians at lower interest rates than current lenders. Their mission is to invest in rural communities where finance needs are high but interest rates charged are very high. They will provide loans secured by gold and silver assets pledged as collateral at an interest rate of 1.5% per month (18% annually). Borrowers must repay their loan within one year, or the accumulated interest will exceed the original asset value pledged. Interest is compounded annually and charged on a daily basis for flexibility. The vision is to establish branches across all states in India to better serve rural borrowers.

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    Business Paln

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    Kumar & Co aims to provide loans to rural Indians at lower interest rates than current lenders. Their mission is to invest in rural communities where finance needs are high but interest rates charged are very high. They will provide loans secured by gold and silver assets pledged as collateral at an interest rate of 1.5% per month (18% annually). Borrowers must repay their loan within one year, or the accumulated interest will exceed the original asset value pledged. Interest is compounded annually and charged on a daily basis for flexibility. The vision is to establish branches across all states in India to better serve rural borrowers.

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    46 просмотров2 страницы

    Kumar & Co..: Cia-I Entrepreneurship Assignment-I Business Plan

    Загружено:

    Rohit Mittal
    Kumar & Co aims to provide loans to rural Indians at lower interest rates than current lenders. Their mission is to invest in rural communities where finance needs are high but interest rates charged are very high. They will provide loans secured by gold and silver assets pledged as collateral at an interest rate of 1.5% per month (18% annually). Borrowers must repay their loan within one year, or the accumulated interest will exceed the original asset value pledged. Interest is compounded annually and charged on a daily basis for flexibility. The vision is to establish branches across all states in India to better serve rural borrowers.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 2

    CIA-I Entrepreneurship Assignment-I Business Plan

    KUMAR & CO..

    Submitted by: ROHIT KUMAR MITTAL 1021428 IIMBAN(Finance)

    Executive summary Mission


    Mission is to take over investors in rural India who charge a very high interest rates..

    Vision
    Vision is to have a branch in each and every state of India.

    Company Name

    Kumar& co

    Product Description

    We are focusing Rural India for our business idea, at the initial stage our plans is to invest as the investors who lend money on interest and rural India will be the best option for us to establish our business as finance requirement is high and a very high % of interest is charged in rural india by the lenders over their... We give loans to people on interest on their assets i.e, (Gold & Silver) which they keep with us for money they need. Money is lended on the basis of purity i.e, 75% of the value of good or can be lended to the holder of the good. The interest rate charged is 1.5% p.m i.e, 18% points a year...

    The receiver of the money will have to take back his/her good which he/she has kept with us within 1 year of the date he has kept the good or he will have pay the required interest amount within a year otherwise he will not get back it after a year as his interest and the principle which he has already taken will exceed the original value of the good in maximum cases so it is assumed that he will not take his good back... The criteria for charging interest is compounded annually i.e, if the good kept exceed 1 year and interest amount is paid then it will be calculated as for term interest minus the amount which he has already given. The interest charged will on day basis i.e, if the receiver has kept the good with us only for day he will be charged interest only for a day not for the month which is practiced in Rural areas.....

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