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R. V. Verma, Chairman and Managing Director, National Housing Bank, on Wednesday said the Credit Guarantee Trust Fund for low-income housing will be operational by the end of this fiscal.
NHB is the nodal agency in charge of administering the fund floated jointly by the Central and State Governments with an initial corpus of Rs 1,000 crore.
“We have set up the fund and it should start operating by the end of this fiscal. The risk weight on home loans under the low-income segment backed by the credit guarantee trust will be lower, thereby, giving lenders some capital relief. This will help them pass on the benefit to their customers by way of an interest subsidy,” Verma told newspersons on the sidelines of a housing conclave organised by the Federation of Indian Chambers of Commerce and Industry here today.
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