RBI ups limits on housing loans from co-op banks, backs affordable housing

The RBI monetary policy committee, in its policy review, decided to permit the rural cooperative banks (RCBs) to finance residential real estate projects

The Reserve Bank of India on Wednesday doubled the limit on housing loans from cooperative banks and also permitted Rural Cooperative Banks (RCB) to finance residential real estate projects to support affordable housing and inclusive growth.

The central bank allowed urban cooperative banks (UCBs) to provide doorstep banking services to meet the needs of customers, especially senior citizens and differently abled persons. This would bring UCBs on par with scheduled commercial banks which already provide such services.

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