RBI revised the upwards housing loan limits under Priority Sector Lending. The existing family income limit of Rs 2 lakh per annum for availing of the loans for housing projects for Economically Weaker Sections (EWS) and Low Income Groups (LIG) now stands revised to Rs.....lakh per annum and Rs.....lakh per annum, respectively.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

RBI revised the upwards housing loan limits under Priority Sector Lending. The existing family income limit of Rs 2 lakh per annum for availing of the loans for housing projects for Economically Weaker Sections (EWS) and Low Income Groups (LIG) now stands revised to Rs____lakh per annum and Rs____lakh per annum, respectively.

A	3 lakh and 6 lakh
B	4 lakh and 7 lakh
C	6 lakh and 8 lakh
D	7 lakh and 5 lakh

Explanation:

Detailed explanation-1: -2. In terms of the above Master Direction for RRBs, loans to individuals up to ₹ 20 lakh for purchase/construction of a dwelling unit per family provided the overall cost of the dwelling unit does not exceed ₹ 25 lakh are eligible to be classified under priority sector.

Detailed explanation-2: -In order to encourage individuals to own a home and to make home loans more affordable, RBI has increased the Loan to Value Ratio up to 90% in case the home loan is below Rs. 30 lakhs. Also, the LTV ratio for loans above Rs. 75 lakhs is up to 75%.

Detailed explanation-3: -40 per cent of Adjusted Net Bank Credit or Credit Equivalent Amount of Off-Balance Sheet Exposure, whichever is higher. 75 per cent of ANBC. However, lending to Medium Enterprises, Social Infrastructure and Renewable Energy shall be reckoned for priority sector achievement only up to 15 per cent of ANBC.

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