Loans

When we are in need of money, its obvious that the need for the loan arises. Loans are of different categories like Personal loan, Home loan, Educational loan, Marriage loan, Industrial loan, etc.. The problem is that most of us not getting money from bankers without security. Even if we go for a personal loan, we will be given only limited amount after being well scrutinized about our capacity. Now Government has taken a decision to relax the terms of loans and increase the cash flow of the peoples by availing them whenever needed.

Now every Metropolitan city do have a community called Credit Information Bureau of India Limited (CIBIL), used commonly by all bankers. When a person gets a loan, he will be given scores and will be tracked throughout the loan period about his perfection. If he applies to the other bank, his CIBIL score must be enough to get the second loan, otherwise his file will be rejected. Even sometimes, if he has any pending loans, he will located by the second application that he files.

A good news for persons whose loans are pending by the CIBIL report is that Government feels that there is no proper money flow from the Industry level to the ordinary peoples level. Industrial owners and even officials suggest that to remove the existing CIBIL report and to make a fresh ones, so that lot of people who are in need of money to do business will avail loan and cash flow will be well enough in the country. Government surprisingly nodes for the decision, but it takes some time.