Housing Finance Companies borrowed only half of sanctioned funds so far, says report

Housing finance companies have taken between Rs 12,000 crore and Rs 14,000 crore from National Housing Bank (NHB) in the July 2018-June 2019 period even though the regulator sanctioned over Rs 23,000 crore, Financial Express reported, citing sources.

According to industry sources quoted by the paper, the disbursements to housing finance companies this year are lower than the previous year.

NHB told the paper the sanction or disbursement data for the 2018-19 period will be compiled only at the end of the year.

A source quoted by the paper, while commenting on the recent rift between the central bank and government over the NBFC lquidity crunch, said that the housing finance companies requiring board's approvals to seek a release of funds from NHB once sanctioned, may have contributed to the delay in disbursement.