While expressing his deep concern about the insurmountable loss of lives and extensive damage to the property of people in the coastal areas of Southern India affected by the tidal wave Tsunami, Shri P K Gupta, Chairman and Managing Director of the National Housing Bank (NHB) announced a concessional scheme to provide financial assistance to the people in the affected States for construction/repairs and renovation of houses and provision of housing related infrastructure.
The assistance will be provided both through Refinance and Direct Finance routes.
The salient features of the assistance will be:
NHB expects a good response from Banks and HFCs to these Schemes in the context of large drawals of refinance witnessed during the current year. The refinance assistance during the first six months (July-December) has been to the tune of Rs.4050 crores as against Rs.3253 crores during the last financial year.
Shri Gupta announced that a sum of Rs.100 crores has been earmarked for this purpose. He indicated that NHB would be willing to consider modifications in the Scheme based on the feedback from beneficiary institutions.