IIFL Home Finance Ltd disburses record CLSS subsidy of over Rs. 440 crores under PMAY; total number of beneficiaries set to touch 20,000 soon

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Mr. Monu Ratra, CEO, IIFL Home Finance Ltd. said, "We fully appreciate and support the government’s vision of ‘Housing for All’ by 2022. CLSS subsidy scheme under PMAY has been well received by customers all over the country, especially first-time home buyers belonging to EWS and LIG category. It is important to note that the benefits under the Credit-Linked Subsidy Scheme (CLSS) have enabled potential home buyers to realize their dream of owning a home”

IIFL Home Finance Ltd, India’s leading housing finance company is all set to touch 20,000 beneficiaries mark in terms of CLSS subsidy disbursed under Pradhan Mantri Awas Yojana. So far the company has helped customers avail over Rs 400 crores subsidy under Credit Linked Subsidy Scheme (CLSS) -the flagship scheme of Government of India's Pradhan Mantri Awas Yojana (PMAY).
In line with Hon’ble Prime Minister Narendra Modi’s vision of ‘Housing for All by 2022’,  IIFL Home Finance Ltd is supporting the scheme in various parts of the country. IIFL HFL has earned the notable distinction in raising awareness and taking the benefits of this scheme to the first-time home buyers belonging to EWS (Economically Weaker Section), LIG (Low Income Group) and Middle Income Group (MIG) categories. In its efforts towards educating and supporting the customers to avail benefits of CLSS subsidy under PMAY, IIFL HFL has received immense support from the Ministry of Housing & Urban Affairs and National Housing Bank (NHB).
IIFL Home Finance Ltd. has been recognized as one of the ‘Best Performing PLI under CLSS for EWS/LIG’ by the Ministry of Housing and Urban Affairs for the second year in a row -- for its outstanding contribution towards the Pradhan Mantri Awas Yojana’s Credit Linked Subsidy Scheme. In order to educate customers and enlighten them about the benefits of PMAY, IIFL HFL regularly conducts on the spot counseling for customers visiting its branches, felicitates CLSS beneficiaries at events, gives presentations to defined audiences and proactively calls potential customers on benefits of CLSS.
Till the month ended November 30, 2018, IIFL Home Finance Ltd. has approved home loans of up to Rs. 2700+ crores under PMAY (Urban) CLSS scheme to beneficiary families belonging to EWS/LIG/MIG category. A total of 19000+ beneficiaries have been benefited by the subsidy scheme providing Rs. 440 crores as subsidy under PMAY.The average ticket size for loan amount disbursed to customers under this scheme is Rs. 13 lacs in case of EWS/LIG. IIFL Home Finance Ltd. has made exceptional growth in terms of beneficiary numbers and CLSS subsidy disbursement under PMAY Urban. Since the launch of the scheme in 2015, CLSS beneficiary numbers of IIFL HFL have grown from 65 in FY 2015-16 to 19,000+ till Nov 30, 2018. 
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