HDFC eases housing loan norms for traders, businessmen
By Chennai: | 12 Oct 2002
HDFC executive director R V S Rao says his company is trying to introduce a flexible approach in offering housing loans to the non-salaried class people. “The trading and business community offers a huge potential for HDFC. Discussions are on to identify the basis on which these prospective customers have to be assessed.”
HDFC
is also planning to be more aggressive on the non-resident
Indians (NRI) front. “We are targeting the untapped
potential available in countries like the US, the UK and
Canada besides focussing on the Middle East. As per the
revised policy of the company, we are looking at foreign
citizens with Indian origin as well to boost credit offtake
in the NRI segment,” says Rao.
After the 11 September 2001 attacks, credit offtake in the NRI segment, especially in the US, has gone down substantially. The company is trying to tap the market more aggressively, Rao adds. HDFC, during the current fiscal, is targeting the NRI business, which is worth Rs 400 crore as against the previous year’s performance of Rs 300 crore.