Chennai rains: DHFL, banks not to penalise for EMI delays | Current Affairs, Current Affairs 2017

Chennai rains: DHFL, banks not to penalise for EMI delays

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Chennai rains: DHFL, banks not to penalise for EMI delays

Banks to relax EMI norms for rain-hit Chennai residents.

City-based Dewan Housing Finance Ltd (DHFL) on Sunday announced waiving off penalties on Chennai customers for delays in monthly repayment considering the hardship caused by heavy floods.

“We understand the current difficulties our customers would be facing and would like to extend our support to the families by assuring them on the housing finance front,” DHFL chief executive Harshil Mehta said here.

On Saturday, major financial institutions like state-run State Bank of India (SBI), ICICI Bank, HDFC Bank and Axis Bank also announced their decisions not to penalise Chennai customers for delays in EMI payments.

SBI said it was waiving off penalty for late or no payment of EMI for November and December for home, car and personal loans.

All banks in flood affected northern districts of Tamil Nadu as well as Puducherry were open on Sunday.

The finance ministry has asked all banks to restore banking services in affected areas as early as possible and provide ATM and other facilities round the clock.

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