PNB Housing Finance announced Monday that it has obtained the authorization to grant refinancing of 3,500 crore rupees from the National Housing Bank (NHB) in October 2018. "The funds will be used for disbursements / end-uses in accordance with the standards of the respective refinancing plans, "PNB Housing Finance said in a regulatory filing.
Sanjaya Gupta, managing director of PNB Housing Finance, said the new sanction of Rs 3,500 crore would boost the company's liquidity and also contribute to economic growth. The company also collected a total of 4,225 million rupees through commercial paper (CP) last month.
PNB Housing Finance aims to provide loans for the purchase or construction of residential homes. Shares of PNB Housing Finance were trading 3.90% higher at Rs 965 each on BSE.