Letters: A piecemeal effort - II

This refers to the news report ‘Govt banks lower home loan rates’. There is no doubt that it is a good move by PSU banks but it does not seem to be practical enough as getting a home under Rs 5 lakh is out of question. Even if you look at a Rs 20 lakh loan, it is not practically possible to get a home in that range, especially in the NCR region; and even in other places, we may get a one-bedroom flat but not a home per se. Hopefully, these banks will contemplate lowering the rates for bigger-bracket home loans of Rs 30-40 lakh. It is only then that the middle class will be benefited and the real purpose would be served.

Bal Govind, Noida

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