RBI housing finance revises ceiling on loans to individuals for carrying out repairs/additions/alterations

May 24, 2022 | by TeamLease RegTech Legal Research Team

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Finance & Taxation ComplianceThe Reserve Bank of India (RBI) on May 24, 2022 has issued a notification on the ceiling on loans to individuals for carrying out repairs/additions/alterations for housing finance, Earlier the ceiling on loans to individuals for carrying out repairs/additions/alterations to their dwelling units was revised upwards to ₹2 lakh in rural and semi-urban areas and ₹5 lakh in urban areas.

Now it has been revised to ₹10 lakh in metropolitan centres (those centres with population of 10 lakh and above) and ₹6 lakh in other centres.

[Notification No. RBI/2022-23/56 DOR.CRE.REC.18/09.22.010/2022-23]


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