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Home » IANS » SWAMIH fund sanctions Rs 12k cr for 123 stuck housing projects

SWAMIH fund sanctions Rs 12k cr for 123 stuck housing projects

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New Delhi, Oct 8 (IANS) The Special Window for Affordable and Mid Income Housing (SWAMIH) fund announced by the government last year has so far sanctioned Rs 12,079 crore for the completion of 123 stalled projects.

Out of these total projects for which investments have been sanctioned, 33 projects have been given final approval with an investment of Rs 4,197 crore as of October 5, which will lead to completion of 25,048 housing units, said a tweet by the office of Finance Minister Nirmala Sitharaman.

“Overall, 123 projects have been now sanctioned, including final approval to 33 projects, with an investment of Rs 12,079 crore that would target to provide relief to 81,308 homeowners,” said another tweet.

The fund with a total corpus of Rs 25,000 crore was created last year to help last mile funding of stalled housing projects, with the government infusing Rs 10,000 crore.

Another tweet on the progress of the Emergency Credit Line Guarantee Scheme said that as of October 5, the total amount sanctioned under the scheme by state-run banks, private banks and NBFCs to MSMEs and individuals stood at over Rs 1.87 lakh crore, of which more than Rs 1.36 lakh crore has already been disbursed.

“The loan amounts sanctioned by Public Sector Banks increased to Rs 81,648.82 crore, of which Rs 68,814.43 crore has been disbursed as of 5 Oct 2020,” said a tweet by Sitharaman’s office.

The ambit of the scheme was expanded to include MSMEs with turnover of up to Rs 250 crore and individuals for business purposes. A total of Rs 17,460 crore worth of loans have been sanctioned to individuals so far, out of which Rs 5,939 crore has been disbursed.



(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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