The current world is going through a very tough situation during this time of the covid 19 but still, the tries and the efforts are being given by the government to reduce the pressure on the public which is caused by the pandemic situation.
The finance industry is ramping up for every possibility to enhance the department of every department and so for that of the loans and advances which includes the personal loan, home loan, gold loan and all the other types of loans are there.
An announcement of the real easing of the Rs 50,000 core into the finance industry for the banking services to extend the loan services during this time of the covid 19. This will not only help the economy to grow but also will make the power to move out the shadow of the covid 19. It has also been done for the support of vaccine-making companies as well as the hospitals and the patients for their treatments.
The RBI governor has made some decisions based on which there will be incentives to provide the loan under the scheme of providing loans to the priority sector. The other precautionary measure for the staffs of the banks and the other departments those who are involved with the collection of the physical documents like that of the home loan documents needs to be very careful while handling the customer’s documents.
It has also been focused that instead of focusing on the proper to omg if the home loan interest rates and interest rates of the other types of loans, the focus should be given in adjusting the room and the reserve reported so that the funds can be made available for the sectors which are the priority during this time of the covid 19.
While on the other side of the coin, there are few options are there to check the eligibilities for example Gold loan eligibility criteria or the home loan eligibility in online websites to have less burden on the department staff who are busy serving for the pandemic.