Latest news with #DFS
NDTV
a day ago
- Business
- NDTV
No More CIBIL Checks? New Credit Initiative Promises Faster Loans, Wider Access
The process of checking CIBIL scores before approving loans may soon change. The Department of Financial Services (DFS), under the Ministry of Finance, is working to scale up the Unified Lending Interface (ULI), a new digital lending system that could reduce reliance on traditional credit scores. Currently, banks and financial institutions primarily depend on Credit Information Bureau (India) Limited (CIBIL) scores to assess an applicant's creditworthiness. However, with ULI, the aim is to create a more streamlined and inclusive lending process. To ensure faster implementation, the DFS has instructed all financial institutions to review ULI adoption on a monthly basis. Those that haven't yet joined the system have been told to take immediate steps in that direction. According to an statement issued by the Ministry of Finance, on June 23, DFS Secretary M Nagaraju and Reserve Bank of India officials met with representatives from various central and state ministries to discuss the nationwide rollout of ULI. The goal is to make loan processing faster, more efficient, and less dependent on traditional credit bureaus. If implemented successfully, ULI could bring a major shift in how loans are approved in India, making the system more accessible to a wider range of borrowers. What is Unified Lending Interface (ULI)? According to the Ministry of Finance, the Unified Lending Interface is a digital platform designed to simplify lending processes by integrating technology, data, and policy. It enables lenders to access high-quality, verified data from government ministries and departments, facilitating faster and more inclusive credit delivery. Key Features of ULI Frictionless Credit Delivery: Streamlines loan disbursement processes, reducing time and effort required for credit appraisal. Consent-Based Data Sharing: Borrowers can grant lenders permission to access their financial and non-financial records, expediting loan processing. Standardised APIs: Enables seamless data exchange between financial institutions, eliminating extensive technical integration. Alternative Data Evaluation: Uses non-traditional data sources, such as utility bill payments and GST records, to assess creditworthiness. Benefits of ULI Increased Financial Inclusion: Brings rural borrowers and small businesses into the formal credit ecosystem. Improved Transparency: Promotes transparency in financial transactions, reducing fraud and inefficiencies. Reduced Loan Processing Costs: Automates and digitises the lending process, minimising paperwork and operational costs. Enhanced Credit Access: Simplifies the loan process for MSMEs and farmers, providing timely access to credit.
Indian Express
2 days ago
- Indian Express
Delhi schools receive bomb threat for fourth time in five days; search underway
Several schools in Delhi received a bomb threat email Friday, the fourth time in the last five days, promoting authorities to conduct searches on their premises. According to an official of the Delhi Fire Service (DFS), they received calls regarding a bomb threat from Richmond Global School in Rohini at 4.55 am, Abhinav Public School and The Sovereign School in Rohini at 8 am and 8.16 am, respectively. A senior police officer said more schools have received similar emails. The police, along with the bomb detection and disposal squads and DFS personnel, conducted a search operation but have so far failed to find anything suspicious on the premises. The schools were also vacated during the check. On Wednesday, seven schools, including St Thomas School in Dwarka, Vasant Valley in Vasant Kunj, Richmond Global School in Paschim, Mother's International in Hauz Khas and Sardar Patel Vidyalaya in Lodhi Estate, received bomb threat emails, which were later declared a hoax. In one case, the police apprehended a 12-year-old schoolboy who allegedly sent emails to a school and a college affiliated with the University of Delhi on Tuesday. The other incidents of email threats remain unsolved, as the police claim that they were sent through a Virtual Private Network (VPN), which is an encrypted connection over the internet. Another police officer said that legal action was being pursued, and the cyber units of the respective district police were conducting an inquiry into the bomb threats in their areas. Since May last year, several Delhi schools have been receiving bomb threats. More than 200 schools in the national capital received bomb threats on their official email IDs in May 2024. Similar threat emails were also sent to several hospitals, colleges, and the Delhi Airport. In May this year, the Udyog Bhawan office at the Central Secretariat received a bomb threat via email, triggering extensive checking that ultimately resulted in the building being declared safe. In June, a Delhi-bound Air India flight from Mumbai received a bomb threat after an airline crew member discovered a paper that said, 'Bomb in flight Air India 2948, Air India 171' written on it. However, checks by DFS and the Central Industrial Security Force (CISF) revealed the threat to be a hoax.
The Sun
2 days ago
- Lifestyle
- The Sun
I transformed a rundown 3-bed caravan in two weeks – people ask why we'd give up a house but we'll save so much cash
A MUM has revealed how and why she's moving her family from a three-bed house to a caravan. Megan Sweeney, from the UK, took to social media, documenting how she transformed the old caravan into her home. 2 2 The mum-of-two said she had just two weeks to get the caravan in order before they moved in and people were stunned by the transformation. The giant static caravan had three bedrooms, a living room, kitchen and bathroom - making it pretty spacious. The living room had large glass doors to let in lots of natural light. The interiors of the caravan looked like they hadn't been touched in decades, so the pair got to work making it feel like home. In the clip, Megan said: "We have had two weeks in total to transform this caravan into a family home. And we have quite literally pulled it out the bag and I do not know how." She revealed that the couple spent hours repainting every single wall, ripping out carpet for vinyl flooring and spraying all of the wood furnishings down. The pair also got busy transforming the kitchen, painting the cupboards, switching out door handles and replacing the worktops. They also bought new furniture to make the space feel more homely including a massive corner sofa from DFS. Megan said the bedrooms weren't totally finished yet but she was thrilled with how far they had come. The final task was to add fencing outside of the caravan so that the dogs could roam free. I bought a dated caravan & turned it into my family's very own second home for £4.5k - now we holiday for just £10 a day Finishing the video, the mum said: "I am just so ready to bring my babies and my dogs here now. "I'm so excited to be able to call this gorgeous little place our home for the next nine months." Megan revealed that she had sold their previous house to buy their own land. Now, she and her family were planning to build their own house from scratch and were living in the caravan while planning took place. This meant they could save money on rent and mortgage costs. The clip quickly went viral on her TikTok account @ megannsweeneyy with over 154k views and 26k likes. People were quick to praise the mum for the transformation. One person wrote: "I mean it looks nice, but why give up a house for a caravan..." How much does it cost to live in a caravan? LIVING in a caravan can be an economical and flexible lifestyle choice in the UK. Here's a breakdown of potential costs: Initial Costs Caravan Purchase: £8,000 - £40,000 (depending on size, age, and condition) Caravan Insurance: £200 - £800 per year Ongoing Monthly Costs Pitch Fees: £150 - £600 (varies by location and facilities) Utilities (Electricity, Gas, Water): £40 - £120 Maintenance and Repairs: £20 - £80 Internet and TV: £20 - £50 Gas for Heating/Cooking: £15 - £40 Other Potential Costs Waste Disposal Fees: £8 - £25 Transport Costs (if moving locations): Variable, depending on distance Optional Add-ons (Awning, Solar Panels, etc.): £400 - £1,600 (one-time) Sample Monthly Budget Pitch Fees: £400 Utilities: £80 Maintenance and Repairs: £40 Internet and TV: £40 Gas for Heating/Cooking: £25 Total: £585 Annual Estimated Cost Total Monthly Costs: £585 x 12 = £7,020 Insurance: £500 Maintenance and Repairs: £480 Total Annual Cost: £8,000 Tips to Save Off-Peak Pitch Fees: Look for lower rates during off-peak seasons. DIY Maintenance: Handle minor repairs yourself. Energy Efficiency: Invest in solar panels to reduce utility costs. While initial setup costs can be significant, ongoing expenses for living in a caravan can be relatively low, making it a viable option for those seeking an affordable and mobile lifestyle in the UK. "Why not? Saves a fortune, less cleaning, plenty of space with a nice garden," replied one viewer. Another commented: "Oh my gosh I love this!! Looks STUNNING!!! Making me want to do it!! The amount we all spend on rent is unreal!!" "Is there anything you can't do?! Looks incredible," penned a third. Meanwhile a fourth said: "Okay, fine, I'll sell my house and move into a caravan again."
Indian Express
2 days ago
- Politics
- Indian Express
Delhi Fire Chief Atul Garg transferred – three months before his retirement
Delhi Fire Services (DFS) chief Atul Garg's sudden transfer has raised eyebrows in the department — he was due to retire in three months, on October 31. Garg held the post for six years since December 2019. He will now serve as Director, Fire Safety Management Academy. The order was issued by Delhi government's Home Department on July 14, which stated, 'Lt. Governor, Delhi, is pleased to order that Atul Garg, Director, Delhi Fire Services, is transferred and posted as Director (Fire Safety Management Academy), Delhi Fire Services, with immediate effect…' As per the order, Garg will report to the Principal Director (Delhi Fire Services) — a new post created in June by the Delhi government — but will no longer be part of the DFS. IAS officer A Nedunchezhiyan of the 2012 batch (AGMUT cadre) — recently transferred from Puducherry to Delhi — has been appointed as the Principal Director. There has been no official order regarding Garg's successor, according to sources. Garg did not respond when contacted for comment. Delhi Home Minister Ashish Sood did not respond to messages or phone calls when contacted for a comment on the reason behind Garg's transfer. Sources said the Principal Director's post was created to appoint an IAS cadre-level officer as the head of the fire department. Until now, the posts of Director and Chief Fire Officers had been held by officers from the technical cadre. Currently, there are five Chief Fire Officers and five Deputy Chief Fire Officers who report to the Director. These officers will now report to Nedunchezhiyan, they said. The post of Director was created after the implementation of the new Delhi Fire Service Rules in 2010. Prior to this, the DFS was headed by an officer of the Chief Fire Officer rank. SK Dheri was the longest serving Chief Fire Officer — he held the post for 17 years in the 1990s. Before Garg, G C Mishra, A K Sharma, and R C Sharma retired from the post of DFS Director. They were from the technical cadre, an official said. Garg had joined the unit in 2002 and was also awarded the Meritorious Services medal in 2009. Sources said that while Garg's tenure remained largely uneventful, he came into the limelight earlier this year during the alleged cash recovery incident at the residence of a Delhi High Court judge after a fire. Currently, DFS has a staff strength of 3,312 against the sanctioned strength of 3,623.
Express Tribune
3 days ago
- Business
- Express Tribune
Cattle deals hit Rs4.6b online
Listen to article The State Bank of Pakistan (SBP) announced on Wednesday that 64,553 digital transactions worth Rs4.656 billion were carried out in cattle markets during Eidul Azha in early June. According to the central bank, the transactions were processed under the SBP's "Go Cashless in Cattle Markets Campaign 2025", which aimed to reduce reliance on cash and promote Digital Financial Services (DFS). The campaign was implemented in 54 major cattle markets nationwide, with participation from 24 partner banks. An award ceremony was held on Wednesday, in Karachi by the SBP Banking Services Corporation (SBP BSC) to honour high-performing banks. SBP BSC MD Maraj Mahmood appreciated the banks' efforts in promoting digital payments. Executive Director, DFS Group, SBP, Sohail Javaad, highlighted SBP's focus on building a digital economy.
