The Reserve Bank of lndia has started housing loans ofup to Rs ____ for dwellings costing less than Rs 45 lakh, wiil be treated as priorjty sector lending in metropolitan centre (with population often lakh and above).

Options

A. 1.Rs 42 lakhs
B. 2.Rs 40 lakhs
C. 3.Rs 32 lakhs
D. 4.Rs 35 lakhs

Answer

D

Explanation

The Reserve Bank of lndia stated housing loans of up to Rs 35 lakh, for dwellings costing less than Rs 45 lakh, will be treated as priority sector lending. It comes with a condition that the overall cost of the dwelling unit in the metropolitan centre (with population of ten lakh and above) and at other centres should not exceed Rs 45 lakh and Rs 30 lakh, respectively, for being classified as priority sector.