Government Schemes: Empowerment of women in villages through government schemes, 16 percent took a home loan

The empowerment of the women of the villages is happening rapidly through the government's proprietary scheme, Pradhan Mantri Awas Yojana. Women are coming forward in taking home loans from smaller districts. According to a report by SBI, 16 percent of women have taken home loans for the first time in small towns.

In some districts, the number of women taking home loans exceeds 80 percent. The growth rate of new loans in Tier III and IV cities in FY22 was 36 percent against 33 percent in 2019. The number of women taking home loans has increased rapidly in smaller districts.

Home loan portfolio grows 10% in 2021-22

In 20 districts, the highest number of women taking loans has been in small towns. Out of this, 6 districts are from Chhattisgarh, and 3-3 districts are from Gujarat and Haryana. The average population of women in the total population here is 49 percent.

The home loan portfolio grew at the rate of 10 percent in 2022. The growth rate of the third and fourth-tier cities was higher than the first and second-tier cities. The prices of houses had also increased more last year in Tier III and IV cities.

The maximum increase in 6 districts of Uttar Pradesh

In the fourth-level districts, the maximum increase in debt has been in 6 districts of Uttar Pradesh. These include Etawah, Barabanki, Pilibhit, Chandauli, Mirzapur and Amroha. There is a high demand for loans of Rs 30-50 lakh and Rs 50 lakh to Rs 1 crore in tier III districts. However, the highest growth in new home loans in 2022 as compared to FY19 has been in the districts of Punjab, and Haryana. The home loan market is Rs 24 lakh crore. Doubling in five years to Rs 48 lakh crore.

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