Question : INTEREST SUBSIDY ON HOME LOANS



(a) whether instances of some of the private sector banks not following the guidelines issued by the Government/ RBI for 1 per cent interest subsidy on home loans upto Rs.15 lakhs in the recent past come to the notice of the Government;

(b) if so, the details thereof and the reasons therefor bank-wise particularly HDFC Ltd.; and

(c) the action taken/ being taken by the Government each against such banks?

Answer given by the minister


The Minister of State in the Ministry of Finance (Shri Namo Narain Meena)

(a): Reserve Bank of India (RBI), the Nodal Agency for implementing the 1% interest subvention Scheme for housing loans in Banks, has reported that no such instance has come to their notice.

(b) & (c): Does not arise.