Banks are poised to miss their target funding for rural housing this fiscal, making it yet another failure of the Manmohan Singh government that's lagging behind in road building and power capacity addition.
National Housing Bank, or NHB, recently told banks to raise their lending in villages to at least get closer to the target, said a person familiar with the discussions.
PSU banks have failed to achieve even 50% of the target of financing a little over 2 lakh dwelling units for the poor between April and December 2010 while specialised housing finance companies (HFCs) exceeded their nine-month target by a good margin.
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