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CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration. CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration, CBIC chief Vivek Johri said.

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A cash credit facility is a type of loan that is offered by banks in India to help businesses meet their short-term working capital needs. It is a flexible loan facility that allows businesses to borrow money as per their requirement and repay it as and when they have sufficient funds.

What is Cash Credit Facility?

Cash credit facility is a type of loan that allows businesses to borrow money against their current assets, such as stocks, inventory, raw materials, etc. The credit limit is sanctioned based on the value of the collateral provided by the borrower. The borrower can withdraw funds from the credit limit as and when required, up to the sanctioned limit. The interest is charged only on the amount withdrawn, and not on the entire sanctioned limit.

Eligibility Criteria for Cash Credit Facility

To be eligible for a cash credit facility, the borrower must fulfill the following criteria:

Benefits of Cash Credit Facility
Disadvantages of Cash Credit Facility
Conclusion
Cash credit facility is a useful loan facility for businesses that require short-term working capital. It is a flexible loan facility that allows businesses to borrow money as per their requirement and repay it as and when they have sufficient funds. However, it is important to carefully evaluate the pros and cons of cash credit facility before availing it. It is recommended to compare the interest rates and other terms and conditions offered by different banks before choosing the right cash credit facility for your business.

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