In India, buying a home has become a Social Status for many. They don’t estimate their affordability in most of the cases which I had known. This makes them incompatible to pay their dues when a hardship situation arises. We would have funnily seen the memes which say “If you don’t love your job, take a Home Loan, you will love your job!”. Some people only for the reason of showing off, get the fancy loans and end up in crisis. And these types of people are highly found in India. After getting a Credit Card, followed by a Personal Loan, followed by a Car Loan, followed by a Marriage, followed by a Home Loan, followed by having 2 kids are considered as a Settled Person in India.
OK. Now coming to our topic of discussion. In this Coronovirus which is sweetly addressed as COVID2019 by scientists, the Reserve Bank of India has offered Moratorium for all the Loan Payers of India to help this situation. Very Good initiative initially alike other options provided by the Government of India in this series. It is worth mentioning the Rs. 20000000000000 towards the economic revamping of India where I saw the announcements for Sale of Airports and other Indian assets. Actually, this situation of COVID2019 is very well used by 2 peoples and will see the modus operandi of the schema.