NTH :: Reserve Bank of India eases rules for low-cost home loans


Reuters | Nov 27, 2014, 01.53PM IST | Economic Times
NTH
MUMBAI: The Reserve Bank of India has eased norms to fund low-cost housing by permitting banks to extend loans against long-term infrastructure bonds.

The Reserve Bank of India however barred lenders from providing loans against long-term infrastructure bonds issued by other banks.

“Further, such loans should be subject to a ceiling, say, Rs 10 lakh per borrower, and tenure of loan should be within the maturity period of the bonds,” RBI said in a circular.

In July, the RBI had allowed long-term bonds raised by banks for infrastructure lending to be exempted from mandatory reserve requirements.

Source : http://goo.gl/Z78vBc

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