NHB Signs MoUs with PLIs for ISS Implementation

Current Context: On November 14, 2024, the Ministry of Housing and Urban Affairs (MoHUA) and the National Housing Bank (NHB) signed Memorandums of Understanding (MoUs) with 147 Primary Lending Institutions (PLIs) in New Delhi.

• These MoUs aim to facilitate the implementation of the Interest Subsidy Scheme (ISS) under Pradhan Mantri Awas Yojana – Urban (PMAY-U) 2.0.
• The scheme provides interest subsidies on home loans to beneficiaries from the Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG).
• This initiative is part of the government's vision to achieve "housing for all" by 2047, ensuring that genuine beneficiaries receive the benefits of the scheme without any hurdles.
• The workshop where these MoUs were signed also served as a platform to deliberate and strategize on the effective implementation of PMAY-U 2.0.

Question:

1 Under Pradhan Mantri Awas Yojana – Urban (PMAY-U) 2.0, which groups of beneficiaries are eligible for interest subsidies on home loans?

• A) Only Middle-Income Groups (MIG)
• B) Only Economically Weaker Sections (EWS) and Low-Income Groups (LIG)
• C) Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG)
• D) Only High-Income Groups (HIG)

Answer: C) The scheme targets beneficiaries from the Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG), ensuring a broad reach across income brackets.