Thank you for your immense support.

Dear Friends,

This petition has over eight thousand supporters now. I would like to thank each one of you for your support.

I have been reading many of your comments to know your views and have responded to a few of them as well. One common strand I noticed and I realized it is critical to put things in perspective to do justice to the intention of this petition, hence this update:

a) First of all, the ask is not for any waiver. It is to let the authorities know the concessional rate is not doing any good to women home loan borrowers in the long run. The initial rate cut drops the EMI and increases the loan eligibility by a few lakhs which serve the home finance company's interest far more than it serves any woman - in the floating market.

b) If schemes are not empowering women or taking care of their financial welfare and instead leading them to more debt - it is a dangerous trap

c) There should be regular communication across channels regarding changes, updates in schemes, special offers which should reach all borrowers to enable them to make informed choices to protect their financial interests, failing which, borrowers should be suitably compensated.

Here is a question to ponder,

With loss of income stream, a serious medical illness or a file for divorce – all of them are high possibilities today - during the long loan term, does this initial respite in rate help the women home loan borrowers or leave them struggling with financial instability?

Thank you again for all your thoughts and encouragement.

Please continue to share this petition link with your friends, family and colleagues till we are heard.