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Govt takes steps to ensure IAY beneficiaries get funds

Govt takes steps to ensure IAY beneficiaries get funds

Apnaloan.com Research Bureau

03 Jun 2008

To ensure that the funds meant for the government's housing programme, the Indira Awas Yojana (IAY), reach the right people, the rural development ministry has asked states to transfer payments directly into the beneficiaries' bank or post office accounts.

This move is expected to stop misuse of funds.

The ministry has also asked states to ensure opening of bank or post office accounts if the beneficiaries do not already have one and to intimate the account number to gram sabhas, block development officers or district rural development agencies.

The scheme, funded 75 per cent by the Centre, provides subsidy to the rural poor for building houses. Know about home loans on www.apnapaisa.com/loan.