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Home Loan Risk Weights Scheme Extended: RBI’s Big Gift; Borrowers will benefit greatly because the bank has taken an important decision regarding this scheme – rbi extend risk weights for individuals home loans scheme till 31st March 2023 MIGMG News


Mumbai: RBI Governor Shaktikant Das paid a special visit to the home borrowers today. The RBI had in October 2020 relaxed the risk assessment criteria for home loans. This special scheme has been extended for another year. This decision will increase the risk and loan limit on home loans till March 31, 2023. As a result, consumers will get extra loans to buy a home.

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The Reserve Bank of India (RBI) had in October 2022 relaxed the risk criteria for home loans. (Risk Weights for Individuals Home Loans) Following the decision, the LTV limit for individual borrowers will be increased from 80 per cent to 90 per cent. In this, the risk on home loan will increase up to 50%. Previously, if the LTV was 80 per cent or less, the risk on the home loan would be limited to 35 per cent.

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The scheme was terminated on March 31, 2022. However, today Governor Shaktikant Das announced to extend this special scheme till 31st March 2023. This decision will make it easier for borrowers to get the maximum amount of loan, said RBI Governor Shaktikant Das. This, he said, would also benefit the real estate sector.

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The risk assessment system on home loans is as beneficial for home finance companies as it is for banks. The overall system will be transparent in determining the loan amount and the loan rate on it and the discount to the customer accordingly. According to current RBI regulations, banks’ risk ratio for retail customers is 75 per cent. The loan amount must be within a certain limit to keep the minimum risk. No more than Rs 5 crore can be lent to an individual borrower.

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