CREDIT LINKED SUBSIDY SCHEME (CLSS) for MIG

About:

• Timeline:
  • A new Credit Linked Subsidy Scheme for the Middle-Income Group (CLSS for MIG) was announced by Prime Minister in 2016.
    
    
  • It was launched originally for 12 months till 31.12.2017.
    
    
  • In 2017, the scheme was extended upto 31.03.2019 and now it has been extended by another 12 months i.e. till 31.03.2020.
    
    
  
  
  
• Salient features of scheme:
  • The scheme was announced to meet the aspirations of young professionals and entrepreneurs of Middle-Class Segment.
    
    
  • The scheme covers Beneficiaries of MIG seeking housing loans for acquisition/ construction of houses (including re-purchase) from Banks, Housing Finance Companies and other such notified institutions.