During this testing time of covid banking needs to be modified to protect India from economic collapse. It's difficult to get bank loans since most of the people have defaulted in paying their EMIs.
This has created problems for small traders ( retailers) as well as students looking for educational loans. The main reason for denying the education loans is the drop in cibil scores of their parents during this testing times. Students already admitted in premier institutions like NIT, will also be affected.
Similarly large number of traders have lost their livelihood and in turn will affect the Indian economy.
To help them, loan with low interest rates has to be implemented urgently with stock as collateral.
For the time being cibil score should not be a criteria for sanctioning the above mentioned loans