National Housing Bank (NHB) on Monday reported a net profit of Rs.279 crore in the year ended June 30, 2011, against Rs.280 crore in the previous year. Total loan disbursements were Rs.12,035 crore (Rs.8,160 crore), out of which rural housing had the share of 48 per cent amounting to Rs.5,789 crore. Its gross loans and advances stood at Rs.22,581 crore, with 100 per cent collection efficiency with no gross or net non-performing assets (NPAs).
According to NHB Chairman and Managing Director R. V. Verma, “Annual allocation for Rural Housing Fund (RHF) operating in NHB has been enhanced to Rs.3,000 crore in the last budget to facilitate extending financial assistance to weaker sections in rural areas.”
The budget had announced the creation ‘of Mortgage Risk Guarantee Fund' under Rajiv Awas Yojana to enable flow of housing credit from banks and housing finance companies (HFC) to economically weaker sections (EWS) and LIG households. NHB would manage and administer the proposed fund, he added.
Mr. Verma said last fiscal five new HFCs were granted registration by NHB, taking the total to 52 HFCs.
