ISSUING AUTHORITY : RESERVE BANK OF INDIA
DATE OF ISSUE : 24/06/2013
EFFECTIVE DATE : IMMEDIATE EFFECT
CIRCULAR NO. 113
The provisions of the policy regarding low cost affordable housing projects has been reviewed and modified as under:
- Developers/builders should have a minimum of 3 year's experience.
- Condition of minimum paid-up capital of not less than INR 50 crore has been withdrawn.
- The aggregate limit has been extended for the financial years 2013-14 and 2014-15 with a ceiling of USD 1 billion subject to review thereafter.
- The ECB availed shall be swapped into rupees for the entire maturity on fully hedged basis.
For detailed Circular log on to the Link given below
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