A recent press report said that the Reserve Bank of India (RBI) has agreed to a request proposal by the state government to instruct various banks working in the state to provide housing loan under the differential rate of interest scheme (DRI) to home loan applicants below the Below Poverty Line (BPL).
Reports said that the RBI has instructed the State Level Banking Committee (SLBC) to ask all banks under its jurisdiction to extend benefits of DRI scheme to BPL home loan applicants in the state.
Reports also said that 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 or state housing schemes. It said that the State Level Banking Committee has informed the state government that the BPL families will start receiving housing loan under DRI schemes.
The RBI has recently hiked lending rates by 25 bps which is likely to make all retails loans (home loan, personal loan, car loan etc) and other loans costlier to the borrowers.