For the lenders to process your loan application, your property should be free from legal disputes. Therefore, they send a team of experts to examine and evaluate the property documents, such as the no-objection certificates (NOCs), title deeds, and other ownership papers for legal home loan verification. A group of certified lawyers usually undertakes the inspection process.
On Tuesday, the Minister of State for IT Rajeev Chandrasekhar said that the Ministry of Electronics and IT plans to introduce a verification process for loan apps to block harmful apps from appearing on Google or Apple app stores. He said RBI and Finance Ministry would be consulted about this.
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