The Tougher Banking Norms in Difficult Financial Situations

sarosh By sarosh, 11th Feb 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/3-dtz_5k/
Posted in Wikinut>Money>Loans

There were times when it was very easy to get bank loans and people used this to maximum extent.Now that defaulters are raising, banks have made it very tough to give loans to public. Though this kind of situation has arised due to serious defaulters which effected the whole financial situation, many other people who are really in need are getting helpless in facing this crisis

Easier Banking Norms

There was a time when getting a loan was very easy. Banks were also like in a competition in lending loans to the public. The document process then was also very minimum and also quite easy. There were many people who got benefited by the easy way of availing loans. It was very easy to start any business with easily available loans. AS the financial crunch hit the world,situation has drastically changed here with banking norms becoming very tough that it is almost impossible to get a loan for an ordinary person.This is strange as the same people were getting easy loans even if they were not interested in those day's when everything was going fine. But now when the crisis hit and an ordinary person is also in need of money, banking norms have been tightened so that it is very very tough to get through a loan. The general public are struggling to come out of their financial problems as banks are refusing to lend loans in their hour of need

Banks Dealing in Tougher Financial Situations

People will need financial help in financial crisis like these and not when they are doing really well and here it it is opposite happening as banks were lending loans freely with minimum documentation when everything was fine and not at all lending loans or tightening up the loan lending norms during thee financial crunch situations is not at all justified. This is the crunch situation and at these demanding situations, respective governments should step up and lend helping hands to the people who are facing tough financial situations and here the people are left to themselves to plan out strategies of coming out of problems on their own which is really bad.

People Need Support in Tough Conditions

Government should work for the people looking after their needs and acting accordingly. The governments main responsibility is to see the developmental of their country and happy people all around. Whenever there is a problems for people, government should extend their hands to public to come out of their tough situations of life. There are different ways government can help the general public in demanding situations like these and it is left to the government to decide on ways. It is disturbing to see many corrupt politicians who are interested in making money for only themselves in illegal ways and that too in crisis like these. Government should act against such politicians and bring down corruption and help out people

Tags

Bank, Government, Loan, Money, People, Situation, Support, Tough

Meet the author

author avatar sarosh
I started my passion of reading books right at my young age which slowly developed into writing now.I have been writing Articles for various sites since 5 years

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