The Goa Govt is made up of nothing but a bunch of financial idiots. All they
know is how to pocket bribes and commissions.
The situation could have been avoided by:
1. Let your employees get their mortgage from the banks after they have passed
the “stress” test. Meaning their borrowing can meet the debt service ratios of
their income at prevailing interest rates.
2. Then grant them the HBA at 2%.
3. When your Treasury is empty, withdraw the preferential interest rate and
because they have passed the Stress Test, they can still afford the new EMI
payments.
The otherwise critical situation to borrowers will be mitigated though some
pain will still naturally remain.
Roland.
Aires writes:
The Goa government has heartlessly played with the lives and wellbeing of all
and sundry. Injustice galore not sparing even its own employees.
In a drastic step having far reaching financial implications on hundreds of its
employees an order was issued suddenly last year withdrawing the Housing
Building Advance (HBA) Scheme given to Government employees The loan which was
availed at an interest rate of 2% now requires the employees to suddenly pay
the current prevailing rate of over 10%.
