Line of Credit

 Line of Credit

The RBI has instructed large Non-Banking Financial Companies (NBFCs) to cease offering new lines of credit and to stop renewals.

About Line of Credit (LoC):
A line of credit is a flexible form of debt, similar to working capital, often provided to self-employed individuals and small businesses.

Features:

• Funds can be withdrawn multiple times within an approved limit.
• Excess funds can be repaid into the loan account.
• Initially, only interest payments are required, with principal repayment deferred.

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Wallace Line
The Wallace Line explains the differences in species between continents.

What is the Wallace Line?
Definition: The Wallace Line is an invisible biogeographical boundary proposed by Alfred Wallace in the 19th century, which separates the fauna of Asia and Australia.

It marks a significant shift in species characteristics over a relatively short distance.

Geography (Southeast Asia):
It runs between Bali and Lombok, extends north between Borneo and Sulawesi, and curves south of Mindanao (Philippines).

Reason for Distinct Species Development:
The collision and interaction of the Australian and Asian tectonic plates created volcanic islands (e.g., Bali, Lombok, Sulawesi). These islands served as isolated habitats, separating species and allowing for independent evolution.

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