"RBI has informed that" the extent Noida 'does not appear as a "central bank" in the archive of the main office in the banks, "said Minister of State for Finance Namo Narain Meena in a
written reply to Rajya Sabha. It was in response to a question on the total amount of housing loans extended / approved for home buyers by several public sector banks for housing projects in Noida extension (part of Greater Noida). Meena, however, said that the total outstanding loans for housing construction and other loans for 'Noida Centre' as the March 31, 2010, by public sector banks stood at Rs 2166.2 crore. Of which Rs 1258.7 crore was sanctioned as loans for housing for 12,330 customers and R 907.5 million rupees as loans for construction.
In two separate orders, the Supreme Court has quashed the acquisition of approximately 750 hectares of land from farmers in the area of Noida, which affects more than 26,000 flat-owners and about 20 housing projects of developers, including Amrapali and Supertech.
The minister said that the banks have done due diligence and regulatory guidelines are followed, while the sanction of housing and other related loans. "Banks' Association of India has reported that the release of the bank loans after the due diligence process and, according to credit policy and regulatory guidelines," the minister said.