BDA holds meeting with bankers for easy housing loan to beneficiaries

Bhubaneswar: Taking a step forward in its ambitious slum redevelopment program envisioned to provide affordable houses to slum dwellers in the city, Bhubaneswar Development Authority (BDA) held a high-level meeting with leading bankers.

The meeting was organized with help of state level banking coordinator from UCO Bank. The meeting chaired by Vice-Chairman, BDA was attended by representatives of 22 leading PSU and private banks along with officials of the city authorities.

Extensive deliberations were held on possible modalities for easy facilitation of housing loan to the beneficiaries of slum redevelopment program as well as other affordable housing projects in the city.

Possible options discussed in the meeting included provisions like BDA or BMC providing the authorized beneficiary list to the banks for disbursement of loans, issuance of housing loan against allotment letter given by the authorities without asking for any further security, provision for cancellation of allotment by the authorities in case of default in loan repayment.

However, it was decided that the bankers, as well as the authorities, will evaluate the possible options and come up with proposals for the formalisation of the final modalities. The housing loan for the beneficiaries will be towards the beneficiary share under different housing schemes for EWS.

It may be noted here that several affordable housing projects have been launched in the city as per the Policy for Housing for All in Urban Areas, Odisha, 2015. The houses being planned for EWS would have common facilities like drinking water supply, road network, power supply, street lights, solid waste management and drainage system.

The banks which participated in today’s meeting included State Bank of India, Punjab National Bank, UCO bank, Odisha Gramya Bank, Andhra Bank, Oriental Bank of Commerce, Allahabad Bank, Canara bank, Dena Bank, Union Bank, Bank of India, Indian Bank, Syndicate Bank, Bank of Baroda, Corporation bank, United Bank of India, Bandhan bank, ICICI bank, HDFC Bank, Axis Bank etc.