Financial Daily from THE HINDU group of publications
Tuesday, Nov 11, 2003
Financial Daily from THE HINDU group of publications Tuesday, Nov 11, 2003 |
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Money & Banking
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Housing Finance Dewan Housing gets $12.5-m IFC term loan Our Bureau
Mumbai , Nov.10 DEWAN Housing Finance Corporation Ltd has obtained a term loan equivalent to $12.5 million from International Finance Corporation, a World Bank arm. This loan is for funding of the company's housing finance operations. The company's focus on the semi- urban and rural area as well as lower income segments also fits well with IFC's loan policies, said a news release from the company. "DHFL is increasingly focused in the semi urban and rural parts of the country and expects to see greater volumes in these areas," said Mr Wadhawan. "We are also expanding aggressively by opening service centres in the smaller towns, which is the fastest growing segment for housing finance." Earlier this year, DHFL acquired an 85.91 per cent equity stake in Vysya Bank Housing Finance Ltd. DHFL has 42 branches in over 151 convenience centres across the country.
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