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National Housing Bank provides $463 million subsidy to low income home buyers
Written By Reuters
Published: | Updated:
The National Housing Bank (NHB) said on Wednesday that it had provided an interest subsidy of 32.70 billion rupees ($463.3 million) to more than 143,000 households up to Nov. 28 this year.
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NHB is an agency that implements credit-linked subsidy scheme, a government initiative aimed at providing "housing for all", which is known as the Pradhan Mantri Awas Yojana.
The National Housing Bank (NHB) said on Wednesday that it had provided an interest subsidy of 32.70 billion rupees ($463.3 million) to more than 143,000 households up to Nov. 28 this year.
The subsidy, which was given for the first five months of 2018-2019 financial year, is part of a government initiative aimed at offering affordable mortgage loans to middle and lower income groups, including economically weaker sections.
NHB is an agency that implements credit-linked subsidy scheme, a government initiative aimed at providing "housing for all", which is known as the Pradhan Mantri Awas Yojana.
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NHB, which is wholly-owned by the Reserve Bank of India, follows July-June period as its fiscal year.
($1 = 70.5800 Indian rupees)
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