Relief for Keralites: NHB’s aid for house construction, repair

For repairing and construction of houses in the flood-affected parts of Kerala, the National Housing Bank (NHB) will provide Rs 200 crore of refinancing at a concessional interest rate. Also, need-based top-up loans for repairing houses would be given. Provision for need-based moratorium up to one year and rescheduling installments will also be introduced.

In a series of tweets, Financial Services Secretary Rajiv Kumar said Rs 200 crore will be provided from the refinance scheme of NHB under Affordable Housing Fund to facilitate housing loan at a concessional interest rate. As part of the relief measures, need-based top-up loans for houses repair would be provided.

In another tweet, he said that to stabilize the worst-hit agriculture and MSME sectors, measures including the moratorium, fresh loans, no penal interest on current dues are being taken. Also, banking services have been restored “through temporary bank branches” and mobile ATMs have been deployed, he said, adding that there is sufficient availability of lower denomination notes for urgent needs. Kumar also informed that charges have been waived for the issuance of duplicate passbook, cheque book and fresh debit cards. There will also be no financial charges on ATM transactions. The rains and floods have lead to loss of lives and property. Besides, Centre and state governments, host of corporates as well as general public are contributing towards flood relief operations.

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