Counterfeiters prefer larger
The problem of counterfeit money circulating on the territory of Russia, before the Russian law enforcement officers is quite acute. In 2013, the total number of fakes discovered by the…

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Ministry of Finance is preparing a new blow to business
The Russian Ministry of Finance proposes to prescribe in the Tax Code the maximum allowable interest rates on corporate loans. Thus, the ministry expects to simplify tax accounting and avoid…

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Business in Sweden and Stockholm - Business Ideas
The Scandinavian countries are today considered one of the most promising in terms of business. This is where the most incredible startups can be brought to life. After the perestroika,…

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but it’s not worth

Credit treat for scams

Lending to individuals is growing faster than the corporate borrowing market. In April, the volume of money issued to Russians for personal needs increased by 3.8 percent compared to 2.4 in the field of lending to non-financial organizations and exceeded six trillion rubles. It is not surprising that such amounts attract all kinds of crooks who want to grab at least part of such a tidbit. How often do banks face retail lending fraud? What debt schemes attract the most attention of scammers?

A Bigness correspondent addressed these questions to several of the largest Russian financial institutions that are leading in the consumer lending market – Sberbank, VTB24, Home Credit … But everywhere he was either at a loss or refused to provide data on this issue. Or, as in Raiffeisen Bank, they stated that there were no cases of fraud in their practice, as the bank’s experts meticulously check all the documents provided by the borrowers.

Bankers’ secrecy is easy to understand. Fraud for any type of loan is a painful topic for bank employees. However, this secrecy indicates the urgency of the problem. Another confirmation of this is the adorning website of Home Credit Bank for calls to borrowers to be vigilant about possible scams. Continue reading

The country’s infrastructure is thirsty for investment

As part of the third day of Mosinterfin-2012, work began with a plenary strategic session “Attracting Investments in Infrastructure Projects in Russia: Actual Problems, Models of Solution”. At the same time, intersectoral sessions were held on construction projects, healthcare, energy and the jewelry industry, and the expert session “Investment climate in Siberia and the Far East: tools for global warming.”

Alla Gryaznova, President of the Financial University under the Government of the Russian Federation, First Vice-President of the International Public Organization “GUILD OF FINANCE”, said that after the 2008 crisis, the need to create a self-sufficient platform for discussing, including investment in the Russian economy, led to international financial weeks in the capital .

In a welcome letter from President of Russia Vladimir Putin to the participants of Mosinterfin, it was noted that the forum “is gaining its face and traditions, becoming a noticeable, tangible event in the life of the professional community.” The head of state also noted that “a lively, multifaceted dialogue is extremely useful for developing consolidated approaches to pressing financial and economic problems, the main of which is the development of the financial market in Russia, its integration into the global financial system, the formation of a comfortable investment climate, and ensuring global financial stability ” Continue reading

It’s time to hold the horses on the lending market

The Ministry of Finance and the Central Bank of the Russian Federation consider it necessary to contain the rapid growth of consumer lending. The financial department, according to Deputy Minister Alexei Moiseev, supports the regulator’s proposals to tighten requirements for banks. Earlier in September, the Central Bank raised the interest rate from 8 to 8.25%, and a new increase may occur in November.

In turn, the Ministry of Economic Development believes that the increase in interest rates and the tightening the provision of funds to the economy by the monetary policy of the Central Bank significantly inhibits growth.

Since the beginning of the year, the portfolio of retail loans in the whole banking system in Russia has grown by 29.3%. At the same time, the annual growth rate was already 40%. And the volume of corporate loans increased by only 10.1%.

See also: Credit bonds for the iron horse Continue reading

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