Rural Housing Interest Subsidy Scheme to help the rural poor

Rural Housing Interest Subsidy Scheme to help the rural poor  

GOVERNMENT OF INDIA
MINISTRY OF RURAL DEVELOPMENTDEPARTMENT OF RURAL DEVELOPMENT

LOK SABHA 

STARRED QUESTION NO. 117
ANSWERED ON 09.02.2021

RURAL HOUSING INTEREST SUBSIDY SCHEME

117.  SHRI SYED IMTIAZ JALEEL
         SHRI ASADUDDIN OWAISI

Will the Minister of RURAL DEVELOPMENT be pleased to state:

Rural Housing Interest Subsidy

(a) whether the Government has launched the Rural Housing Interest Subsidy Scheme to help the rural poor who are not included in the list of identified beneficiaries under the Prime Minister Awas Yojana (PMAY);

(b) if so, the total funds allocated/spent and the number of persons benefitted so far under the scheme since its inception;

(c) whether the Government proposes to rope in National Bank for Agriculture & Rural Development (NABARD) and Housing & Urban Development Corporation Ltd. (HUDCO) for revival of rural housing schemes to help the rural poor; and

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(d) if so, the details thereof and the extent to which it is likely to improve the achievements under the scheme along with the further steps taken or being taken to give a boost to rural housing schemes?

ANSWER
MINISTER OF RURAL DEVELOPMENT 

(SHRI NARENDRA SINGH TOMAR)

(a) to (d) : A statement is laid on the table of the House.

STATEMENT IN REPLY TO PARTS (a) to (d) OF LOK SABHA STARRED QUESTION NUMBER *117 TO BE ANSWERED ON 09.02.2021 REGARDING RURAL HOUSING INTEREST SUBSIDY SCHEME.

(a): Yes, Sir.

(b): The Ministry of Rural Development is implementing Rural Housing Interest  Subsidy Scheme (RHISS) with effect from 19th June, 2017 with an aim to provide interest subsidy to eligible households who avail housing loans for construction or modification of a house in rural areas. Under the Scheme, the interest subsidy is provided at the rate of 3.0 percent on the principal amount of the loan and the subsidy is admissible for a maximum loan amount of first Rs. 2.00 lakh for 20 years or full period of loan, whichever is less.

The National Housing Bank (NHB) is the Central Nodal Agency (CNA) to channelize the subsidy to the lending institutions and to monitor the Scheme implementation. Primary Lending Institutions (PLIs) for Rural Housing Interest Subsidy Scheme (RHISS) include Scheduled Commercial Banks, Housing Finance Companies, Regional Rural banks, State Cooperative Banks, Urban Cooperative Banks, Small Finance Banks, Non-Banking Financial Companies (NBFC), Micro Finance Institutions (MFIs) or any other institution identified by the Ministry. The Ministry of Rural Development had released Rs.48.54 crore as advance to the National Housing Bank (NHB) for implementation of the Scheme. As on 14.01.2021, against 6,074 claims for availing subsidy under RHISS, the NHB has already disbursed a total subsidy amount of Rs. 12.20 crore to the Primary Lending Institutions (PLIs) for extending benefits under RHISS to the eligible beneficiaries.

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(c) & (d): Yes, Sir. The National Bank for Agriculture and Rural Development (NABARD) is the supervisor of the State Cooperative Banks (StCBs), District Central Cooperative Banks (DCCBs) and Regional Rural Banks (RRBs). The Housing and Urban Development Corporation Limited (HUDCO) has branches in all major cities of the country and has been implementing the Credit Linked Subsidy Scheme (CLSS) of Ministry of Housing & Urban Affairs. These two Organizations can provide greater penetration of the Scheme.

In addition to above other major steps taken by the Ministry to give boost to Rural Housing Interest Subsidy Scheme include:-

  • Amendments have been carried out in Scheme guidelines as per proposals received from NHB for effective implementation.
  • Regular meetings are held with National Housing Bank (NHB) for review of progress and resolution of issues raised by NHB and PLIs.
  • NHB has been directed to identify Champion PLIs in respect of RHISS and bring them forward to share success stories and information to encourage other PLIs.
  • RHISS has been made a part of the agenda in State Level Bankers Committee (SLBC) Meetings for review of Scheme and for increasing its outreach.

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