Lok Sabha Question No. 617 (UNSTARRED), answered on 2016-04-27
Subject: Rajiv Rinn Yojana
Ministry: HOUSING AND URBAN  POVERTY ALLEVIATION
Asked by: BHARTRUHARI MAHTAB, SANJAY SHAMRAO DHOTRE

## GOVERNMENT OF INDIA

## MINISTRY OF HOUSING AND URBAN POVERTY ALLEVIATION

## LOK SABHA

## UNSTARRED QUESTION NO. 617 TO BE ANSWERED ON APRIL 27, 2016

## RAJIV RINN YOJANA

No. 617 SHRI BHARTRUHARI MAHTAB: SHRI SANJAY DHOTRE:

Will the Minister of HOUSING AND URBAN POVERTY ALLEVIATION be pleased to state:

- a. whether the Government has provided interest subsidy under the  Rajiv  Rinn  Yojana  (RRY)  to  the  intended  beneficiaries during each of the last three years and the current year;
- b. if so, the details thereof, State/UT wise along with the number of beneficiaries who availed benefit of the scheme during the said period, State/UT wise;
- c. whether certain shortcomings/irregularities have come to the
4. notice  of  the  Government  in  the  implementation  of  the  said scheme in the country; and
- d. if  so,  the  details  thereof  along  with  the  remedial  measures
6. taken/being  taken  by  the  Government  to  eliminate  these shortcomings/irregularities

## ANSWER

## THE MINISTER OF HOUSING & URBAN POVERTY ALLEVIATION [SHRI M. VENKAIAH NAIDU]

- (a) & (b):  The  Ministry  of  Housing  and  Urban  Poverty  Alleviation (MoHUPA),  implemented Rajiv Rinn Yojana (RRY) for addressing  the  housing  needs  of  EWS/LIG  segments  in urban areas by providing Interest Subvention Scheme RRY was effective from October 01, 2013 to April 16, 2015.

Under  RRY,  subsidy  claims  amounting  to ₹ 6.86  lakh  have been  disbursed  to  229  beneficiaries  through  4  Primary Lending Institutions (PLIs), the details of which are Annexed.

- (c)  &  (d):  There  have  been  no  irregularities  observed  in  RRY.  The Government has launched the Pradhan Mantri Awas Yojana (Urban) Mission w.e.f. 25.06.2015. Under the Credit Linked Subsidy  Scheme  (CLSS)  component  of  the  PMAY  (Urban), the learning from earlier interest subvention schemes, have been incorporated.

Under this scheme, beneficiaries from Economically Weaker  Section  (EWS)  and  Low  Income  Group  (LIG)  can seek housing loans from Banks, Housing Finance Companies  and  other  such  institutions and would  be eligible  for  an  interest  subsidy  at  the  rate  of  6.5%  for  a tenure  of  15  years  or  during  tenure  of  loan  whichever  is lower for a loan amount up to Rs.6 lakhs. The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9%.

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## ANNEXURE

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| Sl. No.   | Name of the PLIs                | State          |   Total Disbursement (Amount in Rs.) |   No. of Beneficiaries |
|-----------|---------------------------------|----------------|--------------------------------------|------------------------|
| 1         | Rajasthan Marudhara Gramin Bank | Rajasthan      |                               609346 |                    216 |
| 2         | UCO Bank                        | Uttarakhand    |                                49945 |                      3 |
| 3         | Dena Bank                       | Madhya Pradesh |                                 4216 |                      9 |
| 4         | HUDCO                           | Uttar Pradesh  |                                22787 |                      1 |
|           | Total                           | Total          |                               686294 |                    229 |