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PM Housing Fund: DHFL Directors Scammed Thousands Of Crores, Says CBI -Arvind Gunasekar

-NDTV

The Pradhan Mantri Awas Yojana (PMAY) is a central scheme to ensure housing for all and was announced in October 2015

New Delhi: The CBI on Wednesday unearthed a scam linked to the Pradhan Mantri Awas Yojana (PMAY) and registered a case against Kapil and Dheeraj Wadhawan, brothers who are promoters of crisis-hit Dewan Housing Finance Limited (DHFL) and are in jail over fraud and money-laundering charges.

According to the CBI, Kapil and Dheeraj Wadhawan created "fake and fictitious" home loan accounts amounting to over Rs 14,000 crore and availed 1,880 crore in interest subsidy from the Government of India.

The PMAY - a central scheme to ensure housing for all - was announced in October 2015.

Under the scheme housing loans granted to people from Economically Weaker Sections (EWS) and those from Low and Middle Income Groups are eligible for credit-linked interest subsidy.

The subsidy is to be claimed by financing institutions - like DHFL - that have granted these loans.

According to the CBI, in December 2018 DHFL told investors it had processed 88,651 loans under PMAY and received 539.4 crore in subsidies, with a further 1,347.8 crore due.

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