the goan I network
PANAJI
Plans by 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.
In a letter to the chief manager of Bank of India on February 27, Under Secretary (finance) Maya Pednekar stated: “The government is in (the) process of finalising/analysing the existing House Building Advance scheme. You are, therefore, requested not to sanction any further HBA scheme until further orders.”
Under the existing HBA scheme, government employees would be entitled to a housing loan at a meagre 2% interest, while the remaining 7% interest would be borne by the government.
Till date, as many as 3,500 government employees are reported to have availed the loan under the existing HBA scheme.
It is, however, unclear, if the State government plans to restore or revise the existing HBA scheme in future and or if it intends to discontinue the scheme.
