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Economic crisis victims get Banks aid for pay cuts and job loss

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Looking to the harsh economic scenario the Banks and other few lending organizations have initiated the process of offering some relaxation to all those suffering from the pay cuts and the job loss. Source reported at www.propertykhazana.com reveals that the ultimatum of Reserve Bank of India has expired the Banks and is still extending their support for all those victims of the economic crisis mainly attached to the home loans and other few property dealings. “These all are coming in the form of allotting EMI holidays to the consumers effected in lieu of crisis” as stated by senior officials of a private bank.
Head of the consumer assets of HSBC India – Ravi Subramanian stated at the www.propertykhazana.com that – “a loan is structured the internal guidelines of the company along with the authoritarian requirements and the ultimate verdict are entirely based on the merit of the situation”. Whenever a case comes to the banks with such application both the lender and the consumer gets into a mutual repayment agreement elucidation and allows the victim with few moths or years extension or waive off a part interest along with some EMI holiday to make the consumer fit to pay the debts as added on www.propertykhazana.com.
However also there are certain measures taken by the lending authority to examine the genuineness of the claim of the victim. “For this, an agency on behalf of Bank cross examines the entire circumstances of the victim before granting the restructure mode of payment” as stated by Madan Mohan of Disha Financial Counseling. For more updates visit www.propertykhazana.com.
Source: NBTVLIVE

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