National Housing Bank to raise Rs 14k cr in 2013-14

The National Housing Bank (NHB), a re-financier for lenders and housing finance companies (HFCs), is planning to raise Rs 14,000 crore this financial year for its operations, including a $100-million loan from the World Bank. The Chairman and Managing Director (CMD) of National Housing Bank (NHB) R V Verma said.

National Housing BankThe bank to promote lending to low-income houses, maintains its account for the year from July to June.

The borrowing from World Bank is for a term of 25 years and would be used to finance houses for low-income population, Verma added.

The company expects its disbursement for 2013-14 to be at Rs 20,000-22,000 crore. In nine months ended March 31, 2012, the bank has disbursed Rs 17,000 crore and it is expecting to complete its accounting year in June at Rs 18,000 crore.

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