Finance

RBI revises priority sector lending under affordable housing scheme

Updated : June 19, 2018 06:41 PM IST

The existing income limit of economically weaker sections (EWS) has been revised to Rs 3 lakh per annum and for low income groups (LIG), the limit is revised to Rs 6 six lakh per annum from the previous Rs 2 lakh per annum for both the sections,

RBI revises priority sector lending under affordable housing scheme

The Reserve Bank of India (RBI) on Tuesday said the priority sector lending under the Pradhan Mantri Awas Yojana scheme has been revised to Rs 35 lakh in metropolitan cities and Rs 25 lakh in other centres, provided the overall living costs does not exceed Rs 45 lakh and Rs 30 lakh respectively.

“With a view to bringing convergence of the priority sector lending guidelines for housing loans with the affordable housing scheme and to give a fillip to low-cost housing for the economically weaker sections and low income groups,” RBI press release said.

The development policy was mentioned by RBI in its second bi-monthly Monetary Policy Committee (MPC) meeting held on June 6.

Have you signed up for Primo, our daily newsletter?

It has all the stories and data on the market, business, economy and tech that you need to know.

To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more