smes

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Title: smes

Essay Details:

Subject: Business

Author: Harold W

Date: August 23, 2017

Level: University

Grade: A

Length: 25 / 7287

Essay text:

The rising expectation in the standard of living causes an increase in demand for loans to buy big ticket items like automobiles and consumer appliances on a hire purchase basis. Another reason was the cartel (subsequently removed) of bank interest rate and to overcome it, banks set up subsidiary finance companies to compete for deposits by offering higher interest rate. Prior to the enactment of the Finance Companies Act in 1967, finance companies were enaged in a wide range of activities which included collecting deposits, granting of loans, trading, dealing in real estate, and speculating in shares...

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