Reserve Bank of India (RBI) has currently asked the banks to link disbursal of home loans to the construction stages. RBI took this initiative to protect the interest of the investors and hold the wrangle of innovative housing financing schemes. The real estate apex body, Confederation of Real Estate Developers’ Associations of India (CREDAI) is against the decision of RBI. According to CREDAI, the RBI move will hurt the developers’ sentiment and will bother business plans.The chairman of CREDAI said that financial institutions or banks usually protect their interest while planning such instruments. This move will only disturb the business plan and will slow down the project development which would affect the end consumers.RBI has informed the banks that upfront disbursal should not be made for incomplete, under-construction or green belt residential projects. The notice includes ‘innovative housing loan schemes’ which is introduced by some banks in association with realty builders or developers, where upfront disbursals of home loans is made without being linked to the various construction stages. Under such home loan schemes, the interest amount or the EMI on the home loans availed of by a particular borrower is examined by the builder during the time of construction. These housing schemes are popularly known as 80:20 and 75:25 schemes.According to RBI, these home loan schemes are expected to expose banks and the lenders to additional risks.CREDAI chairman further added that RBI should have taken the opinion of the stakeholders before making the decision. Earlier RBI moves have resulted in setback of good market sentiments affecting the economy and residential sector.займ на карту без отказов круглосуточновзять кредит онлайн