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Manish Basu

Kolkata, April 15 United Bank of India has launched a housing loan scheme for slum dwellers in an effort to facilitate construction or upgradation of dwelling units for the urban poor. The loan will be provided at 4 per cent under the differential rate of interest scheme.

Banking industry sources say this is the first time such a scheme has been launched by a bank in the country.

United Bank has a target of disbursing Rs 100-150 crore covering 1,50,000 to 200,000 beneficiaries by 2012, bank sources said. “The scheme has been launched across India recently through internal circulars and we have distributed its details to nearly 120 municipalities in West Bengal and have already sent it to branches in other parts of the country for circulation,” a source said.

The initiative is in tandem with two social security schemes, Basic Services to Urban Poor (BSUP) and Integrated Housing and Slum Development Programme(IHSDP), under the Jawaharlal Nehru National Urban Renewal Mission launched by the Centre in 2005.

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