Financial Daily from THE HINDU group of publications
Thursday, Dec 02, 2004
Financial Daily from THE HINDU group of publications Thursday, Dec 02, 2004 |
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Money & Banking
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Housing Finance GE enters home loans segment Our Bureau
Mr Ridha Wirakusumah, President & CEO, GE Consumer Finance Asia (left), with Mr Scott Bayman, President & CEO, GE (India), addressing a press conference in the Capital on Wednesday. — Kamal Narang
New Delhi , Dec. 1 GE Consumer Finance today announced its foray into the home loan and personal loan segment of the retail market. GE's personal loan foray would be under the brand GE Money Personal Loan. The foray into the housing finance segment would be through a new company - GE Money Housing Finance Company. The new company has already been registered with the National Housing Bank (NHB). The housing finance company would aim at a business of Rs 600-1,000 crore during its first year of operation, company officials announced here today. Loans are to be disbursed at a floating rate of 7.5-8.5 per cent. The retail finance produces would be marketed under the new GE Money brand.
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