RBI revises housing loan limits

By Accommodation Times Bureau

NEW DELHI
Reverse Bank of India (RBI) in a move to boost affordable housing segment, on Wednesday in a statement it said, RBI has decided to revise the housing loan limits under Priority Sector Lending (PSL).

Priority Sector Lending is an important role given by the Reserve Bank of India (RBI) to the banks for providing a specified portion of the bank lending to few specific sectors like agriculture and allied activities, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections.. This is essentially meant for an all-round development of the economy as opposed to focusing only on the financial sector

The revised housing loan limits for PSL eligibility is raised to Rs 35 lakh from Rs 28 lakh in metropolitan centres and Rs 25 lakh to Rs 20 lakh in other centres, RBI said in a statement.

The overall cost of a home in metropolitan centres should not exceed more than Rs 45 lakh and Rs 30 lakh in other centres.





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