The country's largest lender, State Bank of India, has recently signed an agreement with German Development Bank KfW for a $274 million (Rs 1,800cr) loan facility to finance low cost housing units across the country. With its focus on housing loans for economically weaker sections (EWS) and lower income group (LIG) households, the facility is designed to complement the government's flagship Affordable Housing Program including those under the Pradhan Mantri Awas Yojana, said official sources. They said adding that the promotional loan has a maturity of 15 years as the SBI has already committed to support the government's mission of housing for all and this facility will be additional impetus to support this mission, Deputy Managing Director, SBI, Siddhartha Sengupta said, elaborating that the lower income household categories account for 95% of the estimated shortage of 20 million housing units in the country. Similarly, German KfW Development Bank executive board member, Norbert Kloppenburg, claimed that sustainable mortgage loans to low income families to purchase, build or upgrade their homes are critical for inclusive growth and development.
📅Published on:
14 March 2017
🔗Share:
We Value Your Comment
⭐How useful is this information?
Submitting...
03
Thanks for your rating! ✌️ We’d love to hear more - share your thoughts by leaving a comment
Allcargo Logistics Limited has announced its initiative to enable FMCG companies to navigate increasingly fragmented inventory flows through integrated,
GHV Infra Projects Limited has secured a road construction and civil works contract worth Rs 815 crore from APCO Infratech Private Limited in Maharashtra.
JCB India announced the inauguration of a new facility of its dealer, Caculo Earthmovers in Karaswada, North Goa, further strengthening its presence in the
The Godhra–Vadodara section of the Delhi–Mumbai Expressway has been completed and opened for traffic on a trial basis from April 13, 2026, according to the
The Rajasthan State Industrial Development and Investment Corporation will invest Rs 1,200 crore to upgrade infrastructure across more than 450 industrial
Dubai has completed its first air taxi station near Dubai International Airport, marking a major step toward launching electric air mobility services later
Informa Markets in India is gearing up to host the 23rd edition of Roof India, Asia’s premier exhibition for roofing and allied products, from 23–25 April 2026
NBM Media
30+ years of reporting on infrastructure, construction, architecture, & real estate across print, digital, and social media.
