NHB hikes refinancing limit to ₹30,000 cr

In a big boost to the housing building, the National Housing Bank has recently increased the refinancing limit to ₹30,000 crore from the existing ₹24,000 crore in order to ensure th availability of adequate finance in the housing industry as the move would increase the availability of funds for housing sector. As a matter of fact, the extension comes at a time the lack of liquidity among housing finance companies has triggered fears of defaults, resulting in the stock prices of these companies falling. The refinance window has been aimed at providing funds to housing finance companies at cheaper interest rates. Starting July, the NHB has disbursed ₹8,835 crore of the ₹24,000 crore refinancing window to housing finance companies, said an official spokesperson of NHB.