{"id":28401,"date":"2024-12-02T08:05:07","date_gmt":"2024-12-02T02:35:07","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=28401"},"modified":"2025-04-08T19:01:16","modified_gmt":"2025-04-08T13:31:16","slug":"urban-infrastructure-development-fund","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/urban-infrastructure-development-fund\/","title":{"rendered":"Urban Infrastructure Development Fund"},"content":{"rendered":"<h2><strong>About Urban Infrastructure Development Fund:<\/strong><\/h2>\n<ul>\n<li>Itis established through the use of <strong>priority sector lending shortfall.<\/strong><\/li>\n<li><strong>Purpose:<\/strong> The Fund will be used by public agencies to create urban <strong>infrastructure in tier-2 and tier-3 cities.<\/strong><\/li>\n<li>It aims to <strong>supplement the efforts of the State Governments<\/strong> \/ UTs for urban infrastructure development works implemented through Public\/ State Agencies, Municipal Corporations and Urban Local Bodies, by providing a stable and predictable source of financing for providing basic services like <strong>Sewerage and Solid Waste Management, Water Supply and Sanitation<\/strong>, construction and improvement of drains\/ storm water drains, etc.<\/li>\n<li>It is managed by the <strong>National Housing Bank.<\/strong><\/li>\n<li>The initial corpus for <strong>this Fund is \u20b910,000 crore.<\/strong><\/li>\n<li>It is established on the lines of the <strong>Rural Infrastructure Development Fund (<\/strong>RIDF).<\/li>\n<li>States will be encouraged to leverage resources from the grants of the 15th Finance Commission, as well as existing schemes, to adopt appropriate user charges while accessing the UIDF.<\/li>\n<li>It currently covers 459 tier-2 cities and 580 tier-3 cities.\u00a0<\/li>\n<li><strong>UIDF Loans:<\/strong>\n<ul>\n<li>The interest rate on UIDF loans has been <strong>kept at Bank Rate minus 1.5 per cent.<\/strong><\/li>\n<li>The loan (Principal) will be repayable in <strong>five equal annual instalments<\/strong> within seven years from the date of draw, including a moratorium period of two years.<\/li>\n<li>Interest will be payable on a quarterly basis.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1: What is National Housing Bank (NHB)?<\/h3>\n<p>NHB is an All-India Financial Institution (AIFl) established under the National Housing Bank Act, 1987. It is wholly owned by the Government of India.<\/p>\n<p><strong>News: <\/strong><a href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=2078407\" target=\"_blank\" rel=\"nofollow noopener\">ESTABLISHMENT OF URBAN INFRASTRUCTURE DEVELOPMENT FUND<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Urban Infrastructure Development Fund is established through the use of priority sector lending shortfall.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-28401","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-upsc-prelims-current-affairs","7":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/28401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=28401"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/28401\/revisions"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=28401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=28401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=28401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}