The Reserve Bank of India has allowed banks to extend loans up to Rs 10 lakh to individuals against long-term infrastructure bonds issued by them, thus easing loan norms for low-cost housing. In a notification yesterday , the RBI said that loans ceiling and tenure should be within the maturity period of the bonds. However, banks are not permitted to lend against such bonds issued by other banks. Earlier, the apex bank had exempted long term bonds raised by banks from mandatory regulatory norms like CRR and SLR if the money raised is used for funding of such projects. The RBI, in its communication addressed to the banks,said boards of the banks should lay down a policy in this regard prescribing suitable margins, purpose of the loan and other safeguards.