RBI grants state’s request for cheap home loans for BPL applicants

Early this year,the state’s Rural Development department had requested the RBI for the same,saying many BPL families did not have money for even paying the minimum amount for the central/state housing schemes.

“The SLBC,in a meeting attended by the chief secretary on Thursday,informed the state government that the BPL families will start getting housing loan under DRI schemes soon,” sources said.

DRI scheme was formulated by the central government in 1972 for extending financial assistance at a concessional rate of interest (4%) to select low income groups for productive endeavours. These loans were to be given initially by public sector banks and then by private sector banks also.