ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Web Stories
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • IPL 2023
    • Karnataka Elections 2023
    • Viral
    • Education
    • Jobs
Read in App
Business News » India News

RBI increases housing-loan limits under Priority Sector Lending for RRBs, SFBs

The Reserve Bank of India (RBI) has decided to raise the limits for housing loans for Regional Rural Banks (RRBs) and Small Finance Banks (SFBs) for eligibility under priority sector lending.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
RBI increases housing-loan limits under  Priority Sector Lending for RRBs, SFBs
RBI has decided to raise the limits for housing loans for RRBs and SFBs for eligibility under PSL. PTI

The Reserve Bank of India (RBI) has decided to raise the limits for housing loans for Regional Rural Banks (RRBs) and Small Finance Banks (SFBs) for eligibility under priority sector lending, in order to provide them with a level-playing field with other Scheduled Commercial Banks. For RRBs and SFBs, housing loans to individuals up to Rs 35 lakh in metropolitan centres (with population of one million and above) and Rs 25 lakh in other centres, provided the overall cost of the dwelling unit in the metropolitan centres and at other centres does not exceed Rs 45 lakh and Rs 30 lakh, respectively, will be eligible for classification under Priority Sector Lending, RBI said in a release.

So far, RRB loans to individuals up to Rs 20 lakh for purchase/construction of a dwelling unit per family provided the overall cost of the dwelling unit does not exceed Rs 25 lakh were eligible to be classified under priority sector. In terms of the compendium for SFBs, loans to individuals up to Rs 28 lakh in metropolitan centres (with population of ten lakh and above) and Rs 20 lakh in other centres, are eligible to be classified under priority sector, provided that the cost of dwelling unit does not exceed Rs 35 lakh and Rs 25 lakh, respectively.

In its notification, the RBI said that, the existing family income limit of Rs 2 lakh per annum, prescribed in the master direction for RRBs and the compendium for SFBs, eligible for loans to housing projects exclusively for the purpose of construction of houses for Economically Weaker Sections (EWS) and Low-Income Groups (LIG), has been revised to Rs3 lakh per annum for EWS and Rs 6 lakh per annum for LIG.

Accordingly, the RRBs/SFBs are allowed to reckon their outstanding portfolio of housing loans meeting the revised criteria for classification under priority sector lending from the date of this circular, ie, 6 May 2019. For detailed information on this, visit the official notification issued by the RBI at https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11550&Mode=0

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Reserve Bank of India
Written By: ZeeBiz WebTeam
Updated: Tue, May 07, 2019
06:19 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
RBI may reduce policy rate in fourth quarter of 2024: Oxford Economics RBI may reduce policy rate in fourth quarter of 2024: Oxford Economics
Petrol pumps in Kolkata see 10-times spike in payments in Rs 2,000 currency notes Petrol pumps in Kolkata see 10-times spike in payments in Rs 2,000 currency notes
Rs 2,000 currency note ban: Rs 2,000 note was 'band-aid' to cover up 'foolish decision' of demonetisation, says Chidambaram Rs 2,000 currency note ban: Rs 2,000 note was 'band-aid' to cover up 'foolish decision' of demonetisation, says Chidambaram
International credit card spend exempted under RBI's remittance scheme within annual limit International credit card spend exempted under RBI's remittance scheme within annual limit
Housing loans rise 15% YoY to record Rs 19.36 lakh crore despite high-interest rates Housing loans rise 15% YoY to record Rs 19.36 lakh crore despite high-interest rates

LATEST NEWS

MPID Court directs EOW to investigate former FMC chairman Ramesh Abhishek's role in NSEL case

EXCLUSIVE | What's Bullet without thump? Royal Enfield promises a fantastic electric motorcycle by 2025

US dollar hits a 10-week high amid choppy currency market; Japan's yen strengthens

FINAL TRADE: Sensex down over 300 pts, Nifty settles at 18,534; Torrent Pharma surges over 6%

Gold prices today (May 31, 2023): Yellow metal hovers near Rs 60,00 — check out city-wise prices in Mumbai, Delhi and other cities

WTC 2023 Final IND vs AUS: Check date, time, venue, squad, Tickets, Live streaming details of India vs Australia

Knight Frank proposes additional 600 km of stormwater drains be built in Bengaluru to avoid flooding

Delhi govt provides honorarium of Rs 1 crore to family of Corona warrior

Rajasthan free electricity scheme: CM Ashok Gehlot announces zero bill for users consuming up to 100 units every month — check details

Planning to buy a flip phone? Know some amazing benefits

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. Indiadotcom Digital Private Limited. All Rights Reserved.
LIVE TV