Interest Subvention of 1% on housing loans The Union Cabinet approved the proposal for extending the scheme of interest subvention of 1% on housing loans upto Rs.15 lakh where the cost of the house does not exceed Rs.25 lakh for the year 2012-13 and to amend the operational part of guidelines for release of funds.
A budgetary provision of Rs.400 crore has been made for Financial Year 2012-13 for implementing the scheme.
