Business Daily from THE HINDU group of publications
Saturday, Jun 21, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Jun 21, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Housing Finance NHB in talks with insurers Our Bureau Hyderabad, June 20 National Housing Bank (NHB) is in talks with insurance companies for introducing a comprehensive deferred annuity insurance product to be tagged with Reverse Mortgage Loans (RML). The product, once introduced, would fill the “gap” in the RML by providing some income for those who live beyond the expiry of the RML period, Mr S. Sridhar, Chairman and Managing Director, NHBank, said on the sidelines at the inauguration of a counselling centre for senior citizens on reverse mortgage loans here on Friday. “There are fears that the RML customers would be left without any source of income if they live after the expiry of the RML term of 15-20 years. This issue will be addressed soon,” he said. The bank is also working on setting standards for valuations and other procedures in RMLs. More Stories on : Housing Finance | Insurance
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