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Refinancing Limit for Home Financers Hiked to ₹30,000 cr by National Housing Bank
October 29, 2018
National Housing Bank (NHB) which is the apex body to promote the 97 Home Finance Companies (HFCs) in India and provide them financial assistance has increased the refinance limit from ₹24,000 crores to ₹30,000 crores during July 2018 to June 2019. This means that the eligible institutes will have increased availability of funds.
NHB’s decision comes at a time when the financial health of HFCs is declining rapidly. A fear of cash crunch rose to the surface when defaults by the Infrastructure Leasing and Financial Services (IL&FS) were revealed.
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