SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD AUG 05
MCX SILVER SEP 04
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD AUG 05
MCX SILVER SEP 04
MCX CRUDEOIL JUL 20
MCX NATURALGAS JUL 28
USD/INR
EUR/INR
GBP/INR
JPY/INR

Here's what Rakesh Jhunjhunwala has to say about India's economy, stock market and investments

Asian shares hit four-month high as US, China recoveries gather pace

Gold rate today: Yellow metal trades flat; Analysts suggest buy on dips for a target of Rs 48,400 per 10 grams

Rupee jumps 56 paise to settle at 75.04 against US dollar

Business

'Around 80% of Indiabulls Housing Finance's books to benefit from RBI's relaxed norms for NBFCs'

Updated : November 30, 2018 03:26 PM IST

'Around 80% of Indiabulls Housing Finance's books to benefit from RBI's relaxed norms for NBFCs'

After the Reserve Bank of India (RBI) relaxed norms for non-banking financial companies (NBFCs) to securitise their loan books, Indiabulls Housing Finance on Friday said 80 percent of its books stands to benefit from the central bank’s boost.

In an interview to CNBC-TV18, Ashwini Kumar Hooda, deputy managing director, said, "60 percent of our book is home loans and 20 percent is loans against property and most of these are above 5-year. Now Rs 15,000 crore of additional pool is made available till December and Rs 25,000 crore by March by this RBI move."

Hooda said demand for these loans mainly comes from banks as large part of their mortgage pool qualify as priority sector, but for mutual funds, it’s more of securitisation pass-through certificates (PTC) structure.

For Indiabulls Housing Finance, Hooda said the company had securitised Rs 5,000 crore worth loans in first half and intend to securitise around Rs 15,000 crore worth in the second half, “In normal course, it would have been Rs 8,000 crore. So it would be Rs 7000 crore of additional assets over and above our normal securitisation programme this year.”

Further, Hooda said Indiabulls Housing Finance would pare down commercial paper programme by around Rs 10,000-12,000 crore.

He said, "We categorically committed to our stakeholders and rating agencies that no inter-group loans would be there. Any borrowing or lending relationship with Indiabulls Housing with other group companies won’t be there and so there is zero exposure."

"The overall developer exposure is around 20 percent of balance sheet and almost 10-11 percent of that is lease and rent discounting. These are safe secure loans. The exposure is only to top 20 developers and mature projects,"he added.

You May Also Like

10 Sensex firms add Rs 1.37 lakh crore in valuation past week; TCS, RIL major gainers

10 Sensex firms add Rs 1.37 lakh crore in valuation past week; TCS, RIL major gainers

Mutual fund investment in equity markets rises to Rs 39,500 crore in H1 2020 on attractive valuations

Mutual fund investment in equity markets rises to Rs 39,500 crore in H1 2020 on attractive valuations

COVID-19: NEET postponed to Sept 13, JEE-Mains to be held from Sept 1, says HRD Ministry

COVID-19: NEET postponed to Sept 13, JEE-Mains to be held from Sept 1, says HRD Ministry

Trending on CNBC-TV18

Live TV

recommended for you