State Bank of India, the largest bank in India, is considering revising the equated monthly installments (EMIs) on its home loans as interest rates have risen up by two per cent in the past 1 year.

For the last two quarters, there has been a considerable rise in default cases from retail customers. The situation has forced the top loan providers in the country: ICICI, State Bank of India (SBI), and HDFC, to sell their bad home loans.

Now, people borrowing home loans will have to ensure their home to be earthquake resistant, as per the new guidelines released by the National Disaster Management Authority (NDMA). Such a decision has been taken by the authority to strengthen collateral security.