A tripartite Memorandum of Agreement (MoA) has been signed on 15th February, 2018 amongst Ministry of Rural Development, GoI, NABARD and National Rural Infrastructure Development Authority (NRIDA) by Shri Amarjeet Sinha, Secretary, MoRD, GoI, Dr. Harsh Kumar Bhanwala, Chairman NABARD and Smt. Alka Upadhyay, Joint Secretary & DG NRIDA, respectively, for funding the budgetary gap of GoI in implementation of the PMAY-G scheme. PMAY-G aims at constructing 2.95 crore pucca houses for houseless households by 2022, through extending grant assistance to individual beneficiaries.
MoRD has designated NRIDA, an entity registered as a society under Societies Registration Act, 1860 to act as the Nodal Agency for borrowing funds from NABARD and to release funds as Central Assistance to the State Governments /UTs /Implementing agencies under PMAY-G. As per the MoA, MoRD, GoI has requested NABARD to extend credit support of Rs.21,975 cr for funding of PMAY-G over a period of three years, out of which an amount of Rs. 9000 cr is likely to be availed by NRIDA during 2017-18.