New Delhi: In view of the festive season in the country, banks have taken a big step to boost the demand in the market. This season is being seen as an important weapon in the recession. To ensure cash with customers during festivals, state-run banks have started loan fairs. On the other hand, private sector banks are offering easy terms and loans of various offers. Banks are engaged in strengthening consumer sentiment through this. Public sector banks have been issued a program to organize loan fair at 226 locations across the country. At the same time, government and private sector banks led by lead bank Canara Bank in Central Delhi district have started outreach programs.
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Shantanu Kumar Majumdar, General Manager, Delhi Circle, Canara Bank, said that the program has been launched to strengthen the buying perception of the customers. Majumdar said that "through this program, we want to tell people that there is no shortage of cash in banks and the person who needs a loan and fulfils the minimum KYC conditions, loaned it from the banks will go. Private sector Kotak Mahindra Bank has started its loan festival named 'Kona-Kona Khwab".
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Under this loan scheme, the bank is giving 25% to 100% discount on processing and foreclosure (repayment of the entire loan before the term) fees on different types of loans. The bank has offered a 'Buy Now Pay Letter' offer for auto loans, where EMI will start from January next year on purchase.
