The present world is going through a terrible stage right now. There are different types of adverse effects that fall on the financial industry. While on the other side of the coin the efforts are being made to bring technical changes in a few rules and regulations so that safety remains the top concern during this pandemic time.
There are few opportunities where the services like that of the home loan, personal loan and the other types of loans are serving the people in this wrong time and helping a lot on this. There are different types of opportunities due to which the ratio for these services are rising.
According to the government, the banks will remain open only for 3 days a week. This has been done in order to maintain safety and there will be no physical collection of any dues or any document exchange. The home loan documents, personal loan documents and different other types of papers all will be done in the form of an online way.
The Kerala government has shown a concern that the collection will reduce by 70-80% due to the reason which in turn can affect the interest rates like that of the gold loan interest rates, home loan interest rates and the other relatable things which have a direct relation with the matter.
Some types of changes have been made in the eligibility criteria like that of the home loan eligibility and the gold loan eligibility and much more. The ease of eligibility has been done in order to give the earning person some relaxation in order to support in this time of pandemic situation. On the other side of the coin if there is any kind of opportunity to help the economy in all possible ways.
