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SBI has announced the launch of home loans linked to the repo rate, effective from July 1, 2019. RBI is continuously working on providing direct benefits to the borrowers, and therefore, they have shifted from PLR to base rate and then MCLR rate. The idea of launching MCLR Linked home loan was to ensure that any change in repo rate will change the cost of raising funds for the bank which will, in turn, lead to a change in the lending rates. There have been many repo rate cut by RBI showing that banks are not comfortable in passing rate cut benefits to the borrowers. The new repo rate linked home loan product will make policy transmission automatic. If three will be any change in the repo rate, this will also lead to a change in lending rates. With this view, the SBI initiative of repo rate linked home loan is aimed at passing direct benefits to the borrowers and thereby ensuring greater transparency in consumer loans.

It is probably impossible for unemployed youths to secure a loan from financial institutions these days. Getting a loan is difficult for them because they do not have a stable credit history or professional career in which the financial institutions decide the loans. So, to help them financially, there are several loans and government loan for unemployed youths  to help them pursue their dreams like: Cash Loans The government of West Bengal has started this scheme to support unemployed youths. Under this scheme, a jobless member can get loans of up to Rs. 50,000. Any member who is between 18 to 45 years of age can apply for this scheme. NEEDS Scheme This is a scheme where the state government provides a subsidy of 25% for any loan taken by unemployed youths who are graduates. Agriculture loan This is a very beneficial scheme to hel