There are ample chances where the financial industries are making enough effort to bridge the gap between required services affected in all the places related to the financial sector. The first and the foremost thing is that of the loans and advances where the different loan services like that of the gold loan, home loan and all the other styles of loans are being used and have played a very vital role as of a boon amid everything where the people were in emergency need.
The secretary in the department of the financial services at the finance ministry of India has shown some logical reason to explain that there should be a different altogether setup or the drive should be acclaimed to vaccinate the financial sector employees. On the other side of the coin, financial services, especially those of the bank, have been kept in the list of the essential categories and are supposed to remain open with certain conditions. The employees are made to work online from home while services like that of the home loan, the gold loan, will be made online.
For the safety of the staff, the documentation like the home loan documents, gold loan documents and all are being done online to have a contactless and safe experience of services.
Amid the pandemic, the gold loan interest rates and the home loan interest rates have fluctuated or can say have fluctuated to maintain the balance in each minute change of the market conditions.
There are specific eligibility requirements that have been either eased, or the restrictions have been changed or reduced in the pandemic to avail the services without any problem. The real estate sector has been affected a lot, and thus the home loan eligibility has been changed.