Also, not much has been done on the awareness front. The scheme suffers from lack of education and awareness,” the official added.
NHB chairman and managing director R V Verma said that the scheme has seen lukewarm response as it was catering to the first generation of senior citizens who have to be fully sensitised about its nuances. “We were also very conscious about the sensitivities — cultural and emotional — associated with the scheme and went about presenting the scheme before the senior citizens community and other stakeholders in a very measured way. We have been careful in marketing this scheme as a purely need-based support to the senior citizens,” he said adding the recent tax break would go a long way in popularizing it. The NHB will collaborate with other stakeholders including banks and insurers to create awareness about the scheme and implement it across.
One glitch however remains. Currently, borrowers can get a maximum loan of 60 per cent of the property. The public sector bank official said that if this issue is also taken care of, the scheme has good chances of flourishing