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Sarva UP Gramin Bank’s Intervention and Experience in Rural Housing

Sarva UP Gramin Bank’s Intervention and Experience in Rural Housing. A-rural housing scenario B- Sarva UP rural finance initiatives Y P Issar . A. RURAL HOUSING SCENARIO. RURAL POPULATION RURAL HOUSEHOLDS RURAL HOUSES. 2.Rural Households . Rural households were 9cr, 11 cr and

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Sarva UP Gramin Bank’s Intervention and Experience in Rural Housing

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  1. Sarva UP Gramin Bank’s Intervention and Experience in Rural Housing A-rural housing scenario B- Sarva UP rural finance initiatives Y P Issar

  2. A. RURAL HOUSING SCENARIO • RURAL POPULATION • RURAL HOUSEHOLDS • RURAL HOUSES supgb

  3. 2.Rural Households • Rural households were • 9cr, • 11 cr and • 14 cr • in 1981, 1991 and 2001 respectively supgb

  4. Rural Population supgb

  5. 3. Rural houses……. • Average area of a rural house 64 sqm • 35% app. had over 50 sqm area • -10% app. had over 100Sq.m area (In 1993 , this percentage was 15%) • About 32% were constructed more than 20 years ago. • Land holding per capita in rural areas higher than urban areas- construct on their own land. • 95.4% own their homes supgb

  6. 3. Rural houses……. • Gap in desired and actual quality • Houses classified as pucca, semi pucca, kutcha • Share of pucca houses increased from 18.5% to 35.4% from 1971 to 2001 68.5 % live in one or two room houses -39.85 %in one room houses • For average household of 5.2 persons, house size is small. supgb

  7. 3. Rural houses…….. • Structural condition of rural houses-2001 • 5.81 cr(45%)and 0.25cr(42.2%) of residential and nonresidential houses in good condition • 6.28 cr(48.7%)and 0.32cr(53.3%) of residential and nonresidential houses classified as livable • 0.81 cr(6.3%)and 0.03cr(4.5%) of residential and nonresidential houses in dilapidated condition supgb

  8. 3. Rural Houses……. • Exclusive Amenities-2001 • Access to safe drinking water- 80.5% ( 26.3% in 1981) • Access to exclusive toilets- 26.3% • Electricity connection-43% (14% in 1981) supgb

  9. B. Sarva UP- rural finance initiatives • Sarva UP Gramin bank-an introduction • Capital plus reserves=Rs 142 cr • Deposits=2630, advances=1500 cr • Net profit(PAT) = Rs 26.47 cr • Deposit/advances accounts 22 lakh/3lakh respectively • Gross/Net NPA 2.89%/0% respectively • 295 branches/1200 persons/13 districts in UP • CASA =83% second highest amongst all RRBs • Cost of deposits: 4.16% supgb

  10. Our rural housing finance portfolio • Our cumulative disbursements= • 1648 accounts Rs1882 lakhs • Current year disbursements= • 305 accounts Rs 515 lakhs • Outstandings • 1417 accounts Rs 1317 lakhs supgb

  11. Schemes for financing rural houses • GJRHFS • FINANCING TO Kisan Credit Card (KCC) holders • Other borrowers • Most of the loans are linked with the holding of agriculture land supgb

  12. Amount of Loan • GJRHFS • Construction of new dwelling units=up to Rs 5.00 lakh • Most of loans given up to Rs 2.00 lakh • Up gradation/major repairs= up to Rs 1.00 lakh • No loans given under this • KCC holders-Rs 2.00 lakh in addition to crop loan • Few loans given under this • Others= need based supgb

  13. Loaning Powers • Rural sites • up to Rs 5.00 lakh by branch managers • up to Rs 30.00 lakh by higher authorities supgb

  14. Rate of Interest(%) • Period of loan : floating rate fixed rate • Up to 5 years 9.50 10.00 • Up to 15 yr 9.75 10.25 • Max= 10.50 % up to Rs 30 lakh supgb

  15. Other charges • Processing fee: • 1% of loan amount for loans above Rs 25000 • Issue of balance /interest certificate: • Rs 50 per certificate supgb

  16. Repayment • GJRHFS • Maximum 15 years • Mostly for 10 years • Others • Max 25 years • Moratorium period: • Maximum 18 months supgb

  17. Margin/Security • Margin: • Fifteen percent of cost of construction • Security • Primary: mortgage of the house /hypothecation of other assets • or • Collateral: Regd mortgage of agriculture land supgb

  18. UP Agricultural Credit Act 1973 • Construction/repair/extension of a house on abadi land in rural area for personal use shall be deemed as an agriculture purpose, for the purpose of this act supgb

  19. Other aspects • Reasonable growth • Limited to few pockets • So far low focus on this activity • Lack of awareness amongst public • Farmers using highly subsidized (5%) KCC funds for housing • Not covering non farmers/salaried class/low income/disadvantaged groups • Need product differentiation as per segments supgb

  20. Other aspects …. • Need to have specialized loan processing manpower • High potential available in the command areas • Average amount per loan to be enhanced • Proposing housing finance hubs at Noida/Ghaziabad/Meerut/Jhansi • Proposing score based model for sanctioning to reach scale supgb

  21. A few suggestions • Application of interest be allowed up to annual basis depending on the harvesting of crops in stead of monthly basis as recently allowed in gold loans. • Asset classification norms for rural housing loans be allowed as applicable to Agriculture advances as the repayment is mostly based on proceeds of crops. supgb

  22. A few suggestions…… • Clean housing loans up to Rs 50000 be allowed for those having assured income eg salaried /self employed who have no other assets to mortgage. • A Credit Guarantee Scheme for small housing loans can help to cover larger number of low income households. • 1991 census limit of 50000 population be shifted to 2001 census base with higher population level. supgb

  23. A few suggestions……. • GJRHS be given common publicity in vernacular press • NHB refinance be allowed on portfolio basis removing loan wise clauses from Memorandum of Agreement especially for small loans up to Rs 10 lakhs supgb

  24. A thought • With 96 % home ownership, rural people are investing short term funds for housing sector. • More rural housing finance can help have major impact on their life styles. supgb

  25. Thank you supgb

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