Prime Minister Manmohan Singh, on the eve of Independence Day, announces launch of new housing scheme. Under this scheme, home loans amounting less than Rs. 5 lakh will be given relaxation on interest rates. Also, in this scheme banks will provide all possible household benefits to the borrower in next two years.
While addressing the nation, PM said, “To provide housing for our poor brothers and sisters residing in urban areas of our country we will soon launch the Rajiv Housing Loan Scheme.” He added that in next two years government will achieve the target of an account of each household in banks.
Few years back, only 3 out of 10 homes were able to avail the benefits of bank’s services but now more than half of the rural households avail the benefits. Such schemes would be designed so that the pensions, scholarships, wages etc. can be directly transferred to bank accounts.
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