Loan for housing projects after quake certificate

Last Updated: Tuesday, August 31, 2010 - 00:18

New Delhi: Government is preparing a set of
guidelines making it mandatory for a person seeking a bank
loan for an infrastructure or housing project to give a
self-certified disaster resilience certificate.

"A compendium of guidelines are being prepared to be
submitted to RBI for implementation. It will just take a
month. The apex bank being a regulatory body will forward them
to all the banks," N C Vij, Vice Chairman of National Disaster
Management Authority said at a function organised by FICCI.

He said the move aims to encourage inclusion of disaster
management plans in the developmental programme to mitigate
risks as it would ensure that disaster resilience audit is
done before a project is approved.

"The government is already implementing the Self-Certified
disaster resilience plans in its projects. Finances for
structural measures both plan and non-plan are being supported
by the Planning Commission.

"We want to cover private infrastructure which is huge.
RBI being the regulatory body, will assure that such
guidelines are implemented," he said.

As per guidelines, the loan will be issued only after
they are self-certified by the project proponent or an
applicant that the structure is quake proof.

"We don`t want to bring in other regulatory body that may
cause delay. Banks will randomly check on the projects to make
sure that safety methods are being implemented, Vij added.

The NDMA also aims to train and well-equip its eight
battalions comprising 10,000 personnel within next three years
to tackle the disasters in chemical, biological and nuclear


First Published: Tuesday, August 31, 2010 - 00:18
comments powered by Disqus