RBI debars upfront 80:20 loans for flats

September 04, 2013 10:52

The RBI has barred banks from giving upfront loans for under-construction projects through schemes like 80:20.

Providing such loans help a bank as they are classified as mortgage and not construction finance which is considered a risky business by the RBI and requires higher provisioning.

The builder too gains as home loans are far cheaper than construction loans.

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