Rural banks told to double home loan limit for priority sector

The Reserve Bank of India (RBI) has asked all regional rural banks to double the limit for home loans to Rs 10 lakh from Rs 5 lakh for lending for priority sector. 

An RBI notification issued in Mumbai said that increase in the limit will be applicable for the bank loans extended to non-governmental agencies, approved by National Housing Bank for their refinance, on-lending for the purpose of construction or reconstruction of individual dwelling units and rehabilitation of slum dwellers.