Punjab National Bank’s (PNB) subsidiary, PNB Housing Finance (PNB HFL) is planning to mop-up $50 million by way of loan from International Finance Corporation (IFC). PNB HFL is aiming to expand its affordable housing finance portfolio and has obtained RBI’s approval for a $100 million External Commercial Borrowings (ECB).
The fund raising is expected to support PNB HFL to increase its reach in the affordable housing finance segments with additional focus on the low income states, women borrowers and for offering mortgage financing for ‘green’ residential units.
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