BHUBANESWAR: The state government on Saturday directed commercial banks operating in the state to expedite the process of sanctioning loans under ‘Mo Ghara’ scheme launched in May. Chairing a meeting of officials from 39 commercial banks at the state secretariat here, chief secretary Pradeep Jena said over 2.76 lakh applications have been received so far at panchayat samiti level under the credit-linked financial assistance scheme. It is now for the banks to process their applications as per the banking norms.
Jena said block officials will assist the banks during the verification of applications and field visits to identify the beneficiaries and their assets. He advised state heads of commercial banks who have not circulated the state government guidelines on Mo Ghara to their branches in the state to send it immediately without delay.
The chief secretary further requested the bankers to upload the rural housing portal of the state government in IT portals of their banks which will help them know the status of the loan applications. Setting a timeline of 15 days for allotting product code to all branches on Mo Ghara scheme in their core banking solution, the chief secretary advised the bankers to educate their field staff how to minimise the inspection and verification time for timely disbursement of loans.
He said the banks have to play a major role in realising the success of the scheme. The state-sponsored scheme seeks to provide credit-linked financial assistance to those struggling to complete or upgrade their homes. It promises to aid families that were previously excluded due to rigid eligibility criteria or insufficient allocation of houses under different government schemes.
It also aims to support those who received less significant amounts in the past and now wish to upgrade or expand their homes.Potential beneficiaries of the scheme can avail housing loans of up to Rs 3 lakh, repayable over a 10-year period. The scheme also offers four different loan categories, ranging from Rs 1 lakh to Rs 3 lakh.