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Banking and Financial Awareness – 36 RBI-Home-Loans-Guidelines 1) What instruction pertaining to home loans was issued by the Reserve Bank of India (RBI) on 3 September, 2013 to banks? – The RBI asked banks to link the disbursal of home loans to stages of construction (This instruction was issued with an objective to protect the interests of buyers and contain the fallout of some innovative housing finance schemes. RBI in its instruction mentioned that upfront disbursal should not be made in cases of incomplete/under-construction/green field housing projects. The notification follows the introduction by some banks of innovative housing loan schemes in association with developers/builders, where upfront disbursal of housing loans is made to builders without being linked to the various stages of construction)[divider scroll_text="
Posted on: Mon, 16 Sep 2013 14:39:54 +0000

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