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What is the revised housing loan limit to an individual in metropolitan centre’s under Priority sector Lending (PSL) RRBs (Regional Rural Banks) and SFBs (Small Finance Banks)?
  • a)
    Rs.40 Lakh
  • b)
    Rs.35 Lakh
  • c)
    Rs.25 Lakh
  • d)
    Rs.30 Lakh
  • e)
    None of these
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
What is the revised housing loan limit to an individual in metropolita...
To include the RRBs (Regional Rural Banks) and SFBs (Small Finance Banks) in the same level as the other Scheduled Commercial Banks, (RBI) Reserve Bank of India has notified them to enhance housing loan limits to individuals up to Rs 35 lakh in metropolitan centres (which would have a population of over 10 lakhs) and Rs 25 lakh in other centres, under Priority sector Lending (PSL). The total cost of the dwelling unit in the metropolitan centres should not exceed Rs 45 lakh and at other centres should not go beyond Rs 30 lakh for them to be eligible for classification under PSL.Previously, in case of SFB’s loans up to Rs 28 lakh to individuals in metropolitan centres and Rs 20 lakh in other centres, were eligible for classification under PSL, provided that the cost of dwelling unit did not exceed Rs 35 lakh for metropolitan centres and Rs 25 lakh for other centres.
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What is the revised housing loan limit to an individual in metropolitan centre’s under Priority sector Lending (PSL) RRBs (Regional Rural Banks) and SFBs (Small Finance Banks)?a)Rs.40 Lakhb)Rs.35 Lakhc)Rs.25 Lakhd)Rs.30 Lakhe)None of theseCorrect answer is option 'B'. Can you explain this answer?
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