NHB to mobilise funds from fixed deposits soon For the first time, housing finance regulator National Housing Bank (NHB) will raise money through fixed deposits from the retail investors.
"We are studying the market condition. We will launch fixed deposit products soon," National Housing Bank Chairman and Managing Director S Sridhar said, on the sidelines of signing a memorandum of cooperation with Harmony for Silver Foundation here on Tuesday. The institution is looking at interest rate scenario before hitting in the market with its deposit mobilisation products, he told the media. "This will be the first time we be going in for fixed deposit scheme. Given our changed focus to facilitate rural housing and growing business in terms of loan refinancing and direct project financing, we have decided to mobilise public money through fixed deposits," he said. Talking about MoC with Harmony for Silver Foundation, an NGO promoted by Tina Ambani, Sridhar said, the tie up will help in spreading awareness about Reverse Mortgage. Reverse Mortgage is a financial instrument developed by NHB which helps senior citizens to unlock the value of the housing unit by mortgaging property to a financial institution without losing the possession. The scheme helps elderly people to earn regular income to meet their needs. Under the agreement, Harmony for Silver Foundation will set up a national help line for imparting information about the scheme and helping in making it popular, he said. Besides, NHB will be setting up counselling centres in five more cities including Bangalore, Chennai and Mumbai. -- Visit site at – http://investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Forums- http://forums.investorline.co.in/ Iwebs Open Source Web Publishing Platform - http://webs.investorline.co.in/iwebs/ --~--~---------~--~----~------------~-------~--~----~ Get latest market updates & search internet right from your browser-download our toolbar here- http://investorline.ourtoolbar.com/ Visit our site at – http://investorline.co.in/ Newsroom: http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Newscatcher- http://catcher.investorline.co.in/ Interested in Financial Planning-Let us Contact you- http://spreadsheets.google.com/viewform?key=pb_z4f1_zGMg4iBBFT3-SWQ&email=true If you like the site then promote it here- https://www.freetellafriend.com/tell/?url=http://investorline.co.in/blogs/news Create your own free blog on- http://investorline.co.in/blogger Visit this group at http://groups.google.com/group/india-investor -~----------~----~----~----~------~----~------~--~---
