New Delhi, March 28 -- Personal loans come in rescue when individuals suffer from sudden or unexpected financial challenges. Some major challenges during which personal loans come in handy are: medical expenses, education expenses, surgery costs, marriage expenses etc.

Still, even after all the ease such personal loans provide borrowers it has been witnessed that the process of foreclosing i.e., culminating these loans can be quite complicated and challenging for borrowers.

RBI is consistently working towards ensuring that foreclosure of loans becomes an easier process for borrowers. The aim basically is to ensure that borrowers do not incur additional fines and processing charges to close their loans. This article is dedicated towards ...