Issued by: Indian Express | Express News Service | 07 January 2021
In September 2020, the RBI conveyed its decision to Maharashtra State Cooperative Bank that, no district cooperative banks can finance self-redevelopment housing projects as it falls under the purview of commercial real estate and goes against the loan policy. The news came as shock to hundreds of aspirant housing societies eying for Self redevelopment.
Shri Devendra Fadnavis met RBI governor and explain the need and importance of Self redevelopment and urged him, "to allow DCCBL to provide loans to self-redevelopment housing cooperative societies. The RBI should keep self-redevelopment projects out of the purview of commercial real estate and ensure that the scheme’s objectives are fulfilled to benefit people."
