Mortgage Loan without paying EMI!
Mortgage Loan without paying EMI is the most shocking news for all. Control on default is small and rural cities in India are the biggest challenge for all banks and other financial institutions in India. RBI stands a clear instruction to all PSU banks and private banks to do light underwriting at the time of processing of any education loans application in these rural areas. The largest bank of India SBI is agreed with the RBI’s policy. Actually the motive is behind light underwriting is to serve most important financial program to all people which is very important for growing our next generation and progress of our nation.
Banks should do instant process on education loans and other agree base loan everywhere. Also the main responsibility is all borrowers should repay their loan in timely manner. Property loan is another concern in all rural places and township where the clear title is not available, property search report is also not in proper manners kind of more hurdles are there so bank a not comfortable to lend their money in to open market, so availing mortgage loan in these cities is very risky. Mr. Gaurav Sharma owner of “Maa Traders” is very renowned distributor of Vodafone ESSAR Ltd for District Bhind in Madhya Pradesh provides us the complete information about market reports.
Before you believe on this just read it very carefully and you would laugh if you come to know that there is a place in India where many people are taking loan like monthly income and they want to use the funds in to their daily life style even they do not pay a single installment of their loans, collection agency do not have sufficient manpower thus the loan borrowers are enjoying the loan as their income!
It is a common thing in some places in India where the default rate is so high and bank don’t want to take more risk in those particular areas, so most of bankers are not entertaining to new borrower application for processing new loan facility. General information of finance is not available on public domain. People are not aware about the definition default and even them just taking this very casually. Mortgage Loan without paying EMI is a biggest hurdle in the banking growth. Know more about recent changes in Loan Against Property programs.
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