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    Question

    Recently RBI doubled the limit on housing loans to

    finance residential real estate projects from which organization?
    A Public Sector Banks Correct Answer Incorrect Answer
    B NBFCs Correct Answer Incorrect Answer
    C Private Sector Banks Correct Answer Incorrect Answer
    D Co-operative Banks Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India doubled the limit on housing loans from cooperative banks and also permitted Rural Cooperative Banks (RCB) to finance residential real estate projects to support affordable housing and inclusive growth. The central bank allowed urban cooperative banks (UCBs) to provide doorstep banking services to meet the needs of customers, especially senior citizens and differently abled persons. This would bring UCBs on par with scheduled commercial banks which already provide such services. RBI said it is raising the existing limits on individual housing loans by cooperative banks due to an increase in housing prices since the last revision and after factoring in customer needs. · The limits for tier-I/ tier-II UCBs stand revised from Rs 0.30 crore to Rs 0.60 crore and Rs 0.70 crore to Rs 1.40 crore, respectively. · As regards rural co-operative banks, the limits stand revised from Rs 20 lakh to Rs 50 lakh for RCBs with assessed net worth less than Rs 100 crore and for other RCBs, the limits would increase from Rs 0.30 crore to Rs 0.75 crore.

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