As per a Bloomberg report, nearly 56 per cent of individuals have availed the moratorium facility proposed by the RBI in March 2020. Anyone having a loan with banks and NBFCs could avail this benefit and did not have to make any repayments for the moratorium period. The benefit is extended till August 2020. The objective is to provide relief to those borrowers who could be facing a liquidity crunch due to the lockdown impact on jobs and business income. While this may provide

In the event of Covid19 crisis and the subsequent lockdown, the RBI announced a three-month moratorium on loan repayments 2 months ago. Anyone having a loan with banks and NBFCs could avail this benefit and did not have to make any repayments for the months of March, April and May. Now this relief has been further extended by the RBI till August. 2020 The objective is to provide relief to those borrowers who could be facing a liquidity crunch due to the lockdown impact on jo

One of the important decisions in buying a house property involves taking a home loan. Skyrocketing real estate prices have made it inevitable in India for a common man to fund assets like a home through bank loan. It is prudent to be prepared first before applying for a home loan. Preparation here means not just getting familiar about various facets of home loan application. It also implies financial preparation since you would be taking on a liability in the near future. So

Aplethora of financial products are available today suiting our various financial goals and risk appetite. More the choices, more the confusion. Banks have become a one stop shop for offering all kinds of financial products and services besides accepting deposits and lending money. While the objective of the RBI is to enhance the wider reach of financial products by appointing banks as intermediaries, it has given rise to a menace – rampant misselling. With bank employees bei

The definition of convenience has evolved in the 21st century thanks to the internet. Ironically, the more convenient our life gets, the busier we have become. It is because we humans have a tendency to complicate the simplest of things. We focus on so much unnecessary clutter that we forget to view simplicity as it is. Take the case of online banking. One need not visit the bank nowadays for financial transactions or information. Everything is available at the click of a mou