the goan I network
PANAJI
Around 29 government employees who have already invested their savings on housing project and were relying for further payments to builders on the loan money through Housing Building Advance (HBA) scheme are in trouble as their files for housing loan with all sanctions from department has been pending with Bank of India due to recent government direction of stalling the Housing Building Advance (HBA) scheme.
Bringing to the notice of the government about these employees’ difficult situation, the Bank of India zonal manager has sought permission from the government to sanction loans to these 29 government employees whose files have been received by the bank before the government’s decision to stall the scheme.
In a letter written to the Additional Secretary, Finance Department the Zonal Manager of Bank of India Sulabha Rathode has stated that: “During the period from 7 February 2020 to 20 February 2020 we have received 29 HBA files duly sanctioned by various government departments for disbursements... These government employees whose HBA loans are sanctioned by various government departments have already executed agreement for sale by paying the margin amounts for purchase of flats. These government employees are already hard for payment to the builders, we now need to pay the balance amount to the builders urgently.” The letter further states that: “Sudden closure of disbursement of sanctioned amount by Government departments will have negative impact and Government employees will face hardship.”
The bank has requested to permit it to disburse Rs 25 crore which is the balance guarantee amount available with it due to repayment of the HBA loan accounts. The government employees to avail of a meagre 2 per cent interest on a House Building Advance (HBA) scheme have been stalled, with the State government deciding to review the existing scheme and directing banks not to sanction any further HBA scheme until further orders.
Under the existing HBA scheme, govt employees would be entitled to a housing loan at a meagre 2% interest, while the remaining 7% interest would be borne by the government.
