According to a senior official of Kotak Mahindra Bank it has come to knowledge that the bank is experiencing a sudden slowdown in the home loan book market. In comparison with the previous bank loan records, now the bank is experiencing a remarkable fall in home loans. For this reason, the bank has compelled to cut down its interest rate by 0.25%.
Kotak Mahindra bank, the latest inclusion in the banking industry reveals that like them other renowned banks are also cutting down their names from the list of home loans. To explain this meagre rate of home loans, he described that the present market condition is playing a key role behind this scarcity of home loan book.
When they have asked about the asset and the margin amount, the official informed that, soon bank will get rid of this problem and will hold back its lost position in a proper way. Once the market will take a positive turn, it will soon change this condition and they will emerge in volume as well.