PM announces cut in home loan rates for weaker sections

PM's post-demonetisation address to the nation:

- The government has taken some decisions to enable poor and middle class people to purchase houses.

- There are two schemes drawn to enable the lower class, lower middle class and upper middle class avail houses.

- In 2017, home loans for poor and middle class people up to Rs 9 lakh will get 4 per cent exemption on interest and up to Rs 12 lakh will get 3 per cent exemption.

- The government will bear 60 per cent interest on loans taken by the farmers from cooperative banks and primary societies to sow rabi crops.