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Auto, Home Loans to be Cheaper, Says Nirmala Sitharaman
August 26, 2019
This Friday, Finance Minister Nirmala Sitharaman announced a number of measures that will make home loans and vehicle loans cheaper and more accessible with the traditional banks and non-banking financial companies (NBFCs).
Sitharaman was addressing the media after the announcement when she said that the lenders will also pass on the benefits of RBI rate cuts to the borrowers under MCLR reduction. She also announced that housing financing companies (HFCs) will receive additional financial support of ₹20,000 crores that will increase the total liquidity offered to ₹30,000 crores.
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