In India, Home or property insurance is a popular banking product. Being secure is better that being sorry- the essential theory behind the concept of insurance.
After the Monetary policy review on February 8, The Reserve Bank of India, (RBI), left the repo rate unchanged at 6.25 percent. Finance Minister Arun Jaitley too conceded to the RBI’s decision. Now, developers and prospective buyers are waiting for the Central bank to cut key rates in the next policy review in April.
According to media reports, the national Housing Bank (NBH), along with the Indian Institute of Insurance is working to build a frame work that could make cost of home loans cheaper by 50 basis points, if the borrower opts for property insurance. [Read more…]