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    The Reserve Bank of India issued guidelines to expand the existing scheme of 1% interest subvention on housing loans. The scheme is now expanded to provide subvention on housing loans up to Rs. 15 lakh for houses costing up to Rs. 25 lakh, increased from the previous limits of Rs. 10 lakh loan for houses costing up to Rs. 20 lakh. Scheduled commercial banks are advised to immediately implement these revised guidelines and inform the central office of receipt of this communication. Other terms of the housing subvention scheme remain unchanged.

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    The Reserve Bank of India issued guidelines to expand the existing scheme of 1% interest subvention on housing loans. The scheme is now expanded to provide subvention on housing loans up to Rs. 15 lakh for houses costing up to Rs. 25 lakh, increased from the previous limits of Rs. 10 lakh loan for houses costing up to Rs. 20 lakh. Scheduled commercial banks are advised to immediately implement these revised guidelines and inform the central office of receipt of this communication. Other terms of the housing subvention scheme remain unchanged.

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    18 views1 page

    Rbi Subvention

    Uploaded by

    pankajzap
    The Reserve Bank of India issued guidelines to expand the existing scheme of 1% interest subvention on housing loans. The scheme is now expanded to provide subvention on housing loans up to Rs. 15 lakh for houses costing up to Rs. 25 lakh, increased from the previous limits of Rs. 10 lakh loan for houses costing up to Rs. 20 lakh. Scheduled commercial banks are advised to immediately implement these revised guidelines and inform the central office of receipt of this communication. Other terms of the housing subvention scheme remain unchanged.

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    { ______________________ RESERVE BANK OF INDIA____________________

    www.rbi.org.in

    RBI/2010-11/481 RPCD.SME & NFS. BC. No. 62 /06.11.01/ 2010-11 April 21, 2011 The Chairman/Managing Director/ Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir Scheme of 1% interest subvention on housing loans upto Rs. 10 lakh - Guidelines Please refer to our circulars RPCD.SME & NFS.BC.No.16/06.11.01/2010-11 dated August 9, 2010 and RPCD.SME & NFS.BC.No.52/06.11.01/2010-11 dated February 8, 2011 on the captioned subject. 2. In para 43 of the Union Budget Speech of 2011-12, it has been proposed to liberalise the existing scheme of interest subvention of 1 per cent on housing loans by extending it to housing loan upto Rs.15 lakh where the cost of the house does not exceed Rs.25 lakh from the present limit of Rs.10 lakh and Rs.20 lakh respectively. 3. You are therefore advised to issue necessary instructions to your Controlling Offices and Branch Offices to ensure that these guidelines are implemented immediately. The other terms and conditions of the housing subvention scheme remain unchanged. 4. Please acknowledge the receipt.

    Yours faithfully

    (C.D.Srinivasan) Chief General Manager

    ------------------------------------------------------------------------------------------------------------------------Rural Planning & Credit Department Central Office, 10th Floor, Central Office Building, post box no. 10014 Mumbai -400 001 Tel No: 91-22-22610261/Fax No: 91-22-22621011/22658273/22658276 Email ID:cgmicrpcd@rbi.org.in

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