The International Monetary Fund visualizes demonetization to benefit in medium- to long-term to the Indian economy. The economy would benefit from the widened tax base, enhancing the liquidity with banks and greater digitization and e-commerce.
Loan for Home Repairs
IB Home Enrich – a new home loan product for repairs and renovation of your house can be borrowed from the Indian Bank. Customers can avail this loan up to 36 times their gross monthly income, subject to a maximum of Rs. 10 lakhs. No mortgaging of house property is required under this loan facility. Loan facility can be availed against liquid securities like LIC, NSC and term deposit.
Exemption up to Rs. 30,000 under Section 24 of the IT Act would be available on interest amount of the loan availed