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Govt infuses ₹10,000 crore for affordable housing

Aug 02, 2019 17:39 IST

The National Housing Bank on Friday announced an additional liquidity infusion facility of ₹10,000 crore for housing finance companies. The refinance scheme is to facilitate individual loans for affordable housing, the liquidity infusion also seeks to create confidence in the HFCs which will enable them to raise more resources from other sources like banks, when the shadow banking industry is under stress. The maximum amount that can be drawn by a HFC under this scheme cannot exceed ₹500 crore. The move comes ahead of Finance Minister Sitharaman's meet with heads of public and private sector banks to review matters related to growth of credit in various sectors of the economy.