The National Housing Bank (NHB) of India has initiated plans to partner up with established microfinance institutions (MFIs) in order to encompass low-cost rural housing into the mainstream housing finance market.
According its website, the NHB, established under an act of the Parliament, was created in 1988 with a primary purpose to function as the principal agency to promote Housing Finance Institutions (HFIs). They are empowered to issue directions to housing finance institutions to ensure their growth, make loans and advances to scheduled banks and HFIs, and formulate schemes for the purpose of mobilization of resources and extension of credit for housing.
Continue reading “MICROCAPITAL STORY: The National Housing Bank of India Incorporates Microfinance in order to Expand Market for Housing Microcredit”
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