1% interest subvention scheme

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Nitesh Kumar Sharma (Querist)

30 January 2012 Home loan of Rs. 13 Lakhs obtained from HDFC(not HDFC BANK)and Ist installment paid on May,2011. Property value 21.50 lakhs.

Whether eligible for 1% interest subvention scheme.
pls. reply.
thanks.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

30 January 2012 Not admissible .

Please refer to RBI circular RPCD.SME & NFS. BC. No. 62/06.11.01/2010-11 dated April 21, 2011 on the captioned subject. In this connection, it is now clarified as under:

Loans sanctioned and disbursed between October 01, 2009 and March 31, 2011 are outside the ambit of the new liberalised Scheme and they will be treated as per old instructions (ie. loans up to 10.00 lakh with project cost up to 20.00 lakh)

this scheme is up to 31.03.2012

Banks may continue to claim reimbursement, at present, as per the original Scheme. For claims in respect of the new Scheme, revised instructions would follow.

for updation link is:

https://www.iba.org.in/viewmembanks.asp?id=1

https://www.caclubindia.com/notice_circulars/union-budget-2011-12-interest-subvention-scheme-2-per-cent-interest-subvention-and-3-per-cent-additional-subvention-for-short-term-crop-loans-4804.asp

Nitesh Kumar Sharma

Nitesh Kumar Sharma (Querist)

30 January 2012 Whether it is applicable to NBFC. (HDFC)

Nitesh Kumar Sharma

Nitesh Kumar Sharma (Querist)

30 January 2012 Whether it is applicable to NBFC. (HDFC)

Nitesh Kumar Sharma

Nitesh Kumar Sharma (Querist)

30 January 2012 Whether it is applicable to NBFC. (HDFC)

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