Loan for housing projects after quake certificate
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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 field.


First Published: Tuesday, August 31, 2010, 00:18

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