“Upward
pressure on interest rates is not there. Housing finance companies
have already cut lending rates by 25 basis points,” said the NHB
chief who expects home loans
to grow by 20% in FY13 as compared to 18% in FY12.
According to Mr.
R.V. Verma, Chairman and MD, National Housing Bank, “housing
finance companies should be outside the purview of the 5 per cent cap
on bank loans to non-banking finance companies”. NHB
plans to disburse Rs. 17, 500 crore as refinance in duration between
July 2012-June 2012.
It
also plans to securitize some portion of HFC loans, around Rs.
100-150 crore which will benefit HFCs to undertake fresh business and
gain liquidity. The regulator and supervisor of HFCs
will also be securitizing a portion of the disbursements it has made
to HFCs and banks, said Mr. Verma.
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