Due to a new mandate, MCGF will receive an additional 40 million manat transfer from the state to finance interest subsidy
on SMEs' loans in 2018.
An increase in interest subsidy
for houses under the Pradhan Mantri Awas Yojana may be announced in the Budget.
Summary: Chennai (Tamil Nadu) [India], Jan 23 (ANI): Leading Public Sector Bank (PSB), Indian Overseas Bank (IOB) on Tuesday announced a Memorandum of Understanding (MoU) with National Housing Bank for implementation of the Rural Housing Interest Subsidy
Scheme (RHISS) of the Ministry of Rural Development.
The government's recent thrust on affordable housing through policy measures that include incentive schemes, accordance of infrastructure tag, interest subsidy
scheme under PMAY (Pradhan Mantri Awas Yojana) have resulted in sharp rise in new housing projects in the affordable segment for low income groups.
He further said that those who obtain credit facilities would be given interest subsidy
upto 75% .
The loan involves interest subsidy
in the amount of approximately EUR298,000, the amount being affected by, inter alia, interest rate trends and the eventual loan period.
Q: I am told that the Indian government gives interest subsidy
for purchase of houses to middle-income groups.
Under the new government scheme, loans under Rs 30 lakh qualify for affordable housing in which the borrower gets an interest subsidy
of Rs 2.
Under the new government scheme, loans under INR30m qualify for affordable housing in which the borrower gets an interest subsidy
The low revenue numbers, which the report partly blamed on the 2008 financial crisis, comes with higher than expected interest subsidy
payments from the city.
The largest buyers included pension funds and foreign investors, and their strong demand at the midto long-end of the curve for the product, coupled with the interest subsidy
, resulted in a Treasuryestimated $20 billion in borrowing cost savings, on a present value basis, compared to tax-exempt bonds.
Other components As far as other components of subsidies in 2015 state budget are concerned, interest subsidy
for housing loan and basic food items each remained intact at OMR35 million, participation in domestic, regional and international institutions fell by OMR11 million to OMR200 million and support for government companies came down by another OMR15 million at OMR180 million.