NewDelhi : The National Housing Bank (NHB) has decided to increase the Refinance Limit this year (July 2018-June 2019) to Rs.30,000 crore. Now, eligible Housing Finance Companies & Other entities will have increased availability of funds, the finance ministry said in a statement.
NHB had earlier set an initial limit to sanction Rs. 24,000 crore this year (July 2018-June 2019) towards refinancing eligible institutions. Till date, Rs. 8835 crore has been sanctioned. This refinancing is a credit flow to Housing Finance Companies & Other Institutions.
National Housing Bank is the Principal Agency to promote Housing Finance Institutions, currently 97 in number, and to provide financial support to eligible institutions. As a regulator, National Housing Bank regularly monitors the liquidity position of Housing Finance Companies.