As you are aware, in order to have all current instructions on a subject at one place, the Reserve Bank of India had issued a Master Circular DBOD.DIR(Exp.)No.04 /08.12.01/2006-07 dated July 1, 2006 on the captioned subject, which is now updated up to 30^th June 2007. A copy of the revised Master Circular is enclosed. It may be noted that the Master Circular consolidates and updates all the instructions contained in the circulars listed in the Appendix, in so far they relate to providing bank finance to the housing sector.This Master Circular also incorporates instructions contained in certain clarifications issued by RBI to banks during the course of the year. The Master Circular has also been placed on the RBI web-site (http://www.rbi.org.in).

Yours faithfully,