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NHB to raise money through FD

NHB, for the first time will raise money through fixed deposits from the retail investors to facilitate rural housing and growing business in terms of loan refinancing and direct project financing.

09 Sep 2008

National Housing Bank (NHB), for the first time will raise money through fixed deposits from the retail investors to facilitate rural housing and growing business in terms of loan refinancing and direct project financing.

Before launching deposit mobilization products, NHB is considering interest rate scenario.

NHB signed a memorandum of cooperation with Harmony for Silver Foundation, an NGO promoted by Tina Ambani to help in spreading awareness about Reverse Mortgage.

As per the agreement NHB will set up a national help line for conveying information about the scheme and facilitating in making it popular. It will also set up counselling centres in five more cities including Bangalore, Chennai and Mumbai.



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