HUDCO announces Potential Loan Assistance worth Rs 1 Lakh Crore under PMAY-U 2.0

The Housing and Urban Development Corporation Limited (HUDCO) has declared its potential to extend loan assistance between Rs 75,000 crore and Rs 1 lakh crore under the Pradhan Mantri Awas Yojana -Urban 2.0 (PMAY -U 2.0) scheme.

HUDCO has been appointed as one of the Central Nodal Agencies (CNA) to channel interest subsidy and as one of the technical institutions to conduct Desk-cum-Site Scrutiny of the projects under the PMAY-U 2.0 scheme.

The company has stated that the PMAY-U 2.0 scheme guidelines will also create significant opportunities for HUDCO in the areas of consultancy and capacity-building.

Read Also : Energy Maharatna ONGC bagged Award for Excellence in CSR Practices

HUDCO was registered as a Non-Banking Financial Company – Infrastructure Finance Company by RBI.

This registration allows HUDCO higher exposure limits for financing various infrastructure sectors in addition to housing, expanding its financial capabilities and increasing its potential impact on India's infrastructure and housing sectors.

Read Also : Mr. Jaikumar Srinivasan, Director Finance NTPC conferred with Leading CFO of the year award

Earlier,  HUDCO inked a MoU with Yamuna Expressway Development Authority, a Government of Uttar Pradesh Undertaking, to offer long-term financial assistance in the form of loans for various projects along the Yamuna Expressway.

HUDCO also agreed to provide a wide array of fee-based consultancy services from concept to commissioning in identified sectors and Project Management Consultancy Services from project conceptualization to completion, at mutually decided terms.

Read Also : Manish Raj Gupta to be next Director Technical, Projects and Raw Materials of SAIL