National Housing Bank issued the refinance scheme under affordable housing fund

May 05, 2021 | by Avantis RegTech Legal Research Team

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Industry Specific Compliance

The National Housing Bank on May 03, 2021 issued the refinance scheme under affordable housing fund (AHF) FY 2020-21 with an aim to promote a sound, healthy, viable and cost-effective housing finance system to cater to all segments of the population.

The objective of the scheme is AHF should be utilized for refinancing the individual housing loans having outstanding as on date of request for refinance which were disbursed during previous 12 months, falling under rural and urban category based on the demands received from the PLIs.

Further, any disbursement made under the AHF will be within the PLIs annual sanction limit approved by the NHB and other terms and conditions applicable under NHBs Regular Refinance scheme.

Furthermore, it also states that the claims will be processed on first come first serve basis and subject to availability of funds.

[Notification No. NHB(ND)/ROD/2407/2021]

 


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