Informist, Tuesday, May 24, 2022

MUMBAI – The Reserve Bank of India has enhanced limits on housing finance loans to individuals to carry out repairs, additions or alterations, the central bank said in a notification today. 

The ceiling on such loans has now been revised to 1 mln rupees in metropolitan centres, centres with population of 1 mln and above and 600,000 rupees in other centres. Earlier, the ceiling was 200,000 rupees in rural and semi-urban areas and 500,000 rupees in urban areas, RBI said.

These loans are eligible for classification under priority sector lending for the bank. 
 

End

Reported by Bhakti Tambe

Edited by Vidhi Verma

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