The RBI has also proposed to allow rural co-operative banks to extend finance for ‘commercial real estate-residential housing’.
The individual housing loan limits for UBCs and RCBs were fixed in 2011 and 2009 respectively, and have now been revised due to the rise in house prices.
reserve Bank of India (RBI) on Wednesday increased the limit of individual housing loans by urban cooperative banks (UCBs) and rural cooperative banks (RCBs) by over 100 per cent. announcing the decision, RBI Governor Shaktikanta Das He said that this would facilitate better flow of credit to the housing sector.
The personal home loan limits for UBCs and RCBs were fixed in 2011 and 2009 respectively, and have now been revised keeping in view the rise in house prices.
The RBI has also proposed to allow RCBs to extend finance for ‘commercial real estate-residential housing’ within the existing aggregate housing finance limit of 5 per cent of their total assets. The move is in line with the arrangements available for Scheduled Commercial Banks (SCBs) and UCBs. This measure will further enhance the credit flow from co-operative banks to the housing sector.
RBI also decided to allow UCBs to offer doorstep banking services to their customers. “It has also been decided to allow UCBs to extend doorstep banking services to their customers. This will enable UCBs to meet the needs of its customers, especially senior citizens and differently-abled,” Das said.
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