Public Sector Banks are thinking of a Common portal to offer competitive personal, housing & other retail loans. It is learnt that Government would extend assistance banks to set up such a portal which can also be a platfor to offer loans to small and micro industries in the days to come.
- This would be the next phase of banking, where loans can be availed instantly.
- This would follow the Pradhan Mantri Jan Dhan Yojana, which was brought to make formal banking more inclusive.
- Here they propose to offer competitive Loans under the categories of Housing, Personal and other Retail areas, which would be based on the customers’ creditworthiness.
- This would avoid delay in releasing loans and pave way for early disbursal.
Though the proposal is in the budding stage, the same will be operated like this.
- A borrower can fill in the required details online
- Based on this the borrower will receive competitive offers from interested lenders on personal loans, home loans or auto loans.
- A common checklist by banks would ensure access to the borrower’s credit worthiness
- The bank chosen/allotted would be intimated to the borrower who can visit and avail the facility after completing the necessary formalities.