Section 19 in The Regulations For Disbursement of Loans Under The Middle Income Group Housing Scheme, 1968
19. Insurance of house against loss or damage by fire.
- The borrower shall at his own expense get insured the house against fire with the Life Insurance Corporation of India, within one month from the date of completion of the house for an amount not less than the amount of the loan and shall maintain the same for an amount not less than the principal and interest outstanding against him from time to time.
