Central Bank of India today signed a Memorandum of Understanding (MOU) with M.P. Rural Road & Housing Authority, Govt. of Madhya Pradesh under which the Bank will provide financial assistance to beneficiaries identified by the State Government under Chief Minister’s Rural Housing Mission for acquiring pucca houses in rural areas. The MoU was signed and exchanged by Shri R.K. Dubey, Executive Director and Shri Sanjay Dubey, IAS, CEO, MPRRHA, on behalf of Central Bank of India and Govt. of M.P., respectively, in the presence of (extreme right) Shri Shivraj Singh Chouhan, Hon’ble
Chief Minister of Madhya Pradesh, Shri Gopal Bhargava, Hon’ble Minister for Panchayat & Rural Development, Madhya Pradesh, Shri Avani Vaish, IAS, Chief Secretary and Shri R. Parasuram, IAS, Addl. Chief Secretary to Govt. of M.P.
The Rural Housing Mission of Govt. of M.P. is a ‘demand based self-participatory loan-cum-subsidy scheme’. The MoU signed today aims at synergizing the efforts of Govt. of M.P. and Central Bank of India, a premier public sector bank and Lead Bank of Madhya Pradesh, in the direction of enabling the rural poor to own a pucca house under Chief Minister’s Rural Housing Mission, an ambitious project of the Hon’ble Chief Minister which is also expected to check migration of people from rural areas to urban areas. Initially, the Rural Housing Mission is being launched as a pilot project with 50 units each in all the 50 districts of the State. The cost of such pucca houses of 225 sq.ft. size is estimated at about Rs.70000/- per unit. Rural people living in kacha /semi-pucca houses with maximum of one hectare agriculture land per household or with a maximum annual cumulative income of Rs.1.25 Lacs, and having land for construction of houses or people entitled to receive land from State Government for housing purposes, will be eligible under the scheme.