NHB to raise refinance limit to Rs30,000 crore for current year
08 October 2018
The National Housing Bank (NHB) has decided to increase the refinance limit to eligible housing finance providers from the current Rs24,000 crore to Rs30,000 crore keeping the current scenario in view.
The move will help eligible housing finance companies and other entities to have increased availability of funds.
NHB had set an initial sanction limit of Rs24,000 crore this year (July 2018-June 2019) towards refinancing eligible institutions. Till date, Rs8,835 crore has been sanctioned. This refinancing is a credit flow to housing finance companies and other institutions providing housing loans.
National Housing Bank (NHB) is the principal agency that promotes housing finance institutions in the country, which currently adds up to 97, and to provide financial support to eligible institutions.
As a regulator, National Housing Bank regularly monitors the liquidity position of housing finance companies.