Mr. Anshuman Mishra, Founder-CEO of LoanAdda.com, addressed the State Level Bankers Committee (SLBC) at Chandigarh on partnership between private sector and public sector for Financial Inclusion through Priority Sector Home Loans.
The RBI has recently revised the priority sector lending norms where banks have to lend to certain segments for which targets as a percentage of total business has been set.
Under Priority sector, Home loans up to Rs 28 lakh in metros and Rs 20 lakh in other centers, which has now been enhanced to 90% funding of property value, will form part of priority sector lending as long as the cost of the property is not more than Rs 35 lakh and Rs 25 lakh, respectively.
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