A Treat From RBI For Home Loan Borrowers


According to KR Kamath, chairman, Punjab National Bank,"The infrastructure status to affordable housing projects would make it easier for developers to get finance. Banks in any case were going after home loans given the absence of pick-up in corporate credit,” reports Times of India.

This is the second good news for home loan borrowers in recent days. In the Budget 2014-15, FM Arun Jaitley announced that there would be an increment in the deduction limit because of interest on home loans from 1.5 lakh to 2 lakh.

The reasons for such a release in the loan schemes might be the shortage of houses for the common man in urban India. Moreover, it takes accumulation of years of deposits to build a house for your own, and then too at times the deposits prove to be deficient.

The BJP manifesto promised low cost housing to all by 2022, RBI is proving to be a helping hand surely.

Read More: India Raises Exposure To U.S. Govt Securities At $70.1 Bln In May