Trivandrum: State Bank of Travancore, upholding its tradition of partnering in the welfare and economic well being of the society in its area of operation, has launched the ‘Housing for All (Urban): Mission 2022”.
The scheme aims to provide affordable housing to the families belonging to the Economically Weaker Section and Low Income Group in urban areas of India. The loan is expected to go a long way in accomplishing the Government of India target of providing ‘pucca’ residential houses for all urban Indian families by the year 2022. The scheme also upholds the spirit of ‘Swachh Bharath Mission’ by insisting on a ‘Toilet’ in every house that is built under the scheme. The loan will be applicable in all the statutory towns of India as per the Census of 2011.
According to a press release from SBT, the loans will be available for beneficiaries in two segments – for those with house hold annual income of up to Rs. 3 lakhs under Economically weaker sections and those with house hold annual income between Rs. 3,00,001/- and Rs. 6,00,000/- under Low income group.
The beneficiaries will be eligible for an interest subsidy of 6.50% provided by the Central Government. Simple documentation and relaxed norms makes access to the loans easy for the beneficiaries – large segment of the people belonging to the economically weaker sections. The scheme is expected to improve the overall ratings on standard of living and health conditions of the targeted group of citizens.
Kerala Biz News