Tag: #InformalSector

State-Run Banks Explore New Home Loan Model for Informal Income Earners

November 12, 2024

MUMBAI: Major state-owned banks have begun preliminary discussions to evaluate the potential for offering home loans to individuals lacking traditional income documentation, employer certificates, or tax returns. Unlike standard disbursements under ‘affordable housing’ initiatives, this new approach would assess applicants’ income through unconventional means, such as examining the transaction activity of a street vendor via […]

State-Run Banks Explore New Home Loan Model for Informal Income Earnersmore