IDBI Bank signs MoU with National Housing Bank (NHB)
As a part of the implementation process of the Credit Linked Interest Subsidy scheme under the Pradhan Mantri Awas Yojana, IDBI Bank signed an MoU with National Housing Bank (NHB) on August 26, 2015. The objective of the said scheme is to address the funding requirements of the urban poor belonging to the Economically Weaker Section / Lower Income Groups aspiring to acquire / construct residential houses. The subsidy at the rate of 6.5% would be available up to Rs. 6 lakhs for the loan tenure up to a maximum period of 15 years.
Shri Kishor Kharat, MD & CEO, IDBI Bank (R) and Shri Sriram Kalyanaraman, MD & CEO, NHB (L) exchanging the MoU signed between IDBI Bank Ltd. and NHB on August 26, 2015 as a part of the implementation process of the Credit Linked Interest Subsidy scheme under the Pradhan Mantri Awas Yojana, an Affordable Housing initiative. The objective of the said scheme is to address the funding requirements of the urban poor belonging to the Economically Weaker Section / Lower Income Groups aspiring to acquire / construct residential houses. The subsidy at the rate of 6.5% would be available up to Rs. 6 lakhs for the loan tenure up to a maximum period of 15 years.
