CURRENT AFFAIRS

Detailed explanation-1: -India’s leading housing finance company HDFC Ltd has been awarded as the best performing housing finance company under the Credit Linked Subsidy Scheme (CLSS) of the government’s flagship scheme - Pradhan Mantri Awas Yojana (PMAY) at the Indian Urban Housing Conclave 2022in Rajkot, Gujarat.

Detailed explanation-2: -(Credit Linked Subsidy Scheme) • A Central Sector Scheme. • Interest subvention on home loans taken by eligible urban poor (EWS/LIG) for acquisition, construction or enhancement of house. • For the first time, Middle Income Group (MIG) has been included for a housing scheme in the country.

Detailed explanation-3: -With the Credit Linked Subsidy Scheme (CLSS) under PMAY, lower income sections and middle-income groups can avail of home loans at reduced EMIs. In 2015, the Government of India launched a scheme that would help the financially disadvantaged population living in urban areas get access to affordable housing. .

Detailed explanation-4: -Who is eligible for PMAY subsidy. Any household with annual income ranging from INR 3 lakh to 18 lakhs may apply. In no part of the country should the applicant or other family member have a pucca house. The recipient cannot benefit from PMAY scheme for a previously constructed building.