Page 28 - Banking Finance January 2018

PRESS RELEASE

Release of 'United Darpan' (35th Issue) In-house Hindi Magazine of

United Bank of India

Shri Pawan Bajaj MD & CEO of United Bank of
India has released the 35th issue of In-house
Hindi Magazine 'United Darpan' during the
meeting of Board of Directors on 06.12.2017
in presence of Shri Ashok Kumar Pradhan-
Executive Director, other members of Board of
Directors and General Managers of the Bank.
The 35th Issue of the `United Darpan' covers
articles on Pradhan Mantri Awaas YojanaCLSS,
Demonetization, GST etc. The Board of
Directors of the Bank appreciated the contents
of the Magazine and the art work of the Front
Cover page of the magazine was designed by
Ms Oli Mishra, a deaf staff member of the
Bank.
United Bank of India signs MoU with National Housing Bank for

implementation of Rural Housin Interest Subsid Scheme (RHISS)

United Bank of India signed MoU with National Housing Bank on 6th December, 2017 and has registered its name as a
primary lending Institution (PLI) for implementation of Rural Housing Interest Subsidy Scheme (RHISS) a vertical under
Pradhan Mantri Awas Yojana.
The MoU was signed by Md.. Abdul Wahicl, General Manager, on behalf of United Bank of India and Mrs. Rita
Bhattacharya, Dy. General Manager, on behalf of National Housing Bank and in the presence of other officials from both
the organizations.
Such an initiative will facilitate Bank to expand institutional credit flow to housing need of eligible Rural Individuals under
PMAY Scheme. National Housing Bank will work as a Central Nodal Agency (CNA) to channelize the subsidy to the Primary
Lending Institution.
The Rural households having no house or living in Kutcha house will get Interest. Subsidy under the. Scheme for Housing
Loan availed from Banks / Financial Institutions for construction of new house / modification of existing house. Subsidy
under the scheme will be at the rate. of 3% on the principal amount for a maximum loan amount of Rs. 2 Lacs irrespective
of the Loan Size, for tenure upto 20 years. However, additional Loans beyond Rs. 2 Lacs can be availed at a non subsidized
Rate.
The Subsidy amount will be received upfront thereby reducing the quantum of Loan and monthly EMI accordingly. The
scheme has facilitated the rural population to have their own house by availing Loan from Banks I Financial Institutions
with lower Repayment Liability.
Any rural household which appears/figures on the permanent wait list for Pradhan Mantri Awas Yojana-Gramin (PMAY-
G) will not be eligible for subsidy under the scheme.

28 | 2018 | JANUARY | BANKING FINANCE

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