November 23, 2024 02:24 (IST)
Follow us:
Bajaj Finance Ltd gets approval to set up a Housing Finance Company
Mumbai, Oct 6 (IBNS): Bajaj Finance Ltd, one of the most diversified NBFCs of the country, has received approval from the National Housing Bank (NHB) to set up a Housing Finance Company, as a wholly owned subsidiary.
The company had applied for a license to NHB through its subsidiary Bajaj Housing Finance Ltd. last year and was granted the same on September 24, 2015.
Bajaj Finance ltd, the lending arm of Bajaj Finserv Ltd, started its Mortgages business in 2008 and currently offers Home Loans for SMEs and salaried customers, Loan against Property, Lease Rental Discounts, Developer Finance Products to its clients.
The Mortgages business forms about 40% of the company’s loan book of Rs 35,557 crores as on June 30.
“Getting the Housing Finance Company (HFC) license is a significant step for Bajaj Finance Ltd. as it will strengthen our competitive position in mortgages business. The advantages include additional avenues of borrowings, lower risk weights for certain class of loan, easier legal repossession, amidst others,” says Rajeev Jain, MD Bajaj Finance limited.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Mahindra teases sketches of BE 6e, XEV 9e Fri, Nov 22 2024
Ather Energy Limited unveils ‘Eight70 Warranty’ for the battery of its electric scooters Fri, Nov 22 2024
Bitcoin soars to all-time high, nearing the $100,000 milestone Fri, Nov 22 2024
Mukesh Ambani's Jio loses nearly 80 lakh subscribers in just 30 days; BSNL emerges as a gainer Fri, Nov 22 2024
Kenya cancels Adani airport and energy deals following US bribery indictment: Report Fri, Nov 22 2024
Why is US probing Gautam Adani over allegations of bribery in India? Thu, Nov 21 2024