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National Housing Bank disburses record subsidy under Housing Mission 2022

NHB, which is wholly-owned by the Reserve Bank of India, follows July-June period as its fiscal year.

, ET Bureau|
Updated: Nov 28, 2018, 08.41 PM IST
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NHB, which is wholly-owned by the Reserve Bank of India, follows July-June period as its fiscal year.
National Housing Bank, the principal agency to promote housing finance institutions in the country, on Wednesday said that it has disbursed a subsidy of Rs 3,270 crore to over 1.43 lakh households under the credit linked subsidy scheme (CLSS) in Housing for All Mission by 2022.

“This has exceeded the cumulative amounts since the launch of the scheme,” NHB said in a statement adding that in the last three years Rs 2,943 crore was given to 1.38 lakh households.

Launched in 2015, for promotion of affordable housing for economically weaker section, lower and middle income group, CLSS is one of the four verticals of PMAY (Urban) under Housing for All Mission by 2022.

CLSS is implemented through Scheduled Commercial Banks, Housing Finance Companies, Regional Rural Banks, Co-operative Banks, Small Finance Banks and registered Non-Banking Financial Company - Micro Finance Institutions.

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