Kudumbashree Mission joined hands with Indian Overseas Bank for providing loans to 15,000 families as per the Credit Linked Subsidy Scheme (CLSS) of PMAY before March 2022. The loan would be issued within three years. The MoU regarding the same was signed between Shri. S. Harikishore IAS, Executive Director, Kudumbashree Mission and Shri. E. Rajkumar, Chief Regional Manager, Indian Overseas Bank at Kudumbashree State Mission office on 5 December 2019. Kudumbashree Mission had already associated with Axis Bank, Bank of India and ICICI Bank for CLSS. As per this, 20,353 families from 93 Urban Local Bodies (ULBs) in Kerala had already been issued bank loan. Kudumbashree is the nodal agency for implementing PMAY-LIFE programme in Kerala.
Pradhan Mantri Awas Yojana (PMAY) is an initiative by Government of India through which affordable housing will be provided to the urban poor by 2022. CLSS can be called as interest subsidy scheme under PMAY that is given to people for home construction, purchase, extension and improvement. Those who are permanently living in any urban areas in India continuously for three years and those who do not have permanent houses can only apply for CLSS. As per this scheme, those families who have annual income upto Rs 6 lakhs (Economically Weaker Section) will get bank loan upto Rs 6 lakhs with interest subsidy of 6.5%. Families with annual income of Rs 6 lakhs- RS 12 lakhs (Middle Income Group 1) may get bank loan upto Rs 9 lakhs with interest subsidy of 4%.Families of annual income of Rs 12-18 lakhs (Middle Income Group 2) may get bank loan upto Rs 12 lakhs with interest subsidy of 3 %. The repayment tenure of all banks would be 20 years.
Smt. Roshni Pillai, Smt. M Bhavana State Programme Managers, PMAY, Smt. K. Prathibha, Urban Infrastructure Specialist, PMAY, Shri. Krishna Kumar, Chief Manager, Indian Overseas Bank, Shri. Wilson Thomas, PRO, Indian Overseas Bank, Smt. Mini Oommen, Senior Manager, Kuravankonam Branch, Indian Overseas Bank, Smt. Maya Parvathy, Manager, Peroorkkada Branch, Indian Overseas Bank, Smt. Sheeba, Manager, Pattom Branch, Indian Overseas Bank, Smt. Divya, Manager, Ulloor Branch, Indian Overseas Bank, Smt. Priya, Marketing Manager, Indian Overseas Bank, Smt. Sangeetha, Manager, Indian Overseas Bank also attended the function.
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