Source: Hueiyen News Service / Newmai News Network
Imphal, June 06 2009:
Even though Special Schemes for housing loans were launched in the country under the special package for public sector bank for housing and micro small medium enterprises to deal with the impact of the prevailing global financial situation on the Indian economy, but in Manipur banks are not cooperating well in this regard.
Many of the banks did not participate, only a few banks have participated in the economic package, a statement on the performance and achievement of the special schemes for housing loans which were placed before the State Level Banking Committee submitted to the government observed.
To deal with the impact of the prevailing global financial situation of the Indian economy several measures have been announced by the Central Government and RBI.
Special attentions have been paid for easing difficulties faced by the various small scale sectors and housing sector due to the current global condition.
In a scenario when both the Government and RBI have been extremely pro-active and forthcoming with relief in various forms to stimulate the economy, IBA (Indian Banks Association) announced a new housing package as also a special package on Micro Small Medium Enterprises (MSME).
The public sector banks have offered two schemes for home loan borrowers which are applicable to all new housing loans till June 30.The schemes are loan up to Rs 5 lakh for a maximum period of 20 years with 8.5 per annum interest and loan from Rs 5 lakhs to Rs 20 lakhs for a maximum period of 20 years with 9.25% per annum interest.
Analysis to the report submitted by the lead bank, it was observed that for the MSME scheme during the March, 2009, a total of 267 accounts amounting to Rs 3.97 crores sanctioned while in April a total of 58 accounts amounting to Rs 1 crore were sanctioned.
Under the housing loan scheme during March, 2009, a total of 91 accounts amounting to Rs 2.72 crores were sanctioned while 55 amounting to Rs.0.84 crores in April.
From the latest data, government authority observed that many banks did not participate, only a few banks have participated in the above economy package.