New Delhi, Mar 12: Unfazed by the tight interest rate regime, National Housing Bank's Rs 300 crore tax-free bond issue with a coupon of 9.5 per cent has sailed through easily. The priority sector bonds, which had a maturity of seven years and a put and call option after five years, were oversubscribed within two weeks of its launch.The funds mobilised by NHB through these bonds will be utilised exclusively for refinancing loans extended by various primary lending agencies for rural housing under the `Golden Jubilee Rural Housing Finance Scheme'.
The scheme formulated by NHB seeks to tackle the problems of rural housing in the country and is being implemented through the branches of scheduled commercial banks, housing finance companies, agriculture and rural development banks, RRBs and co-operative housing finance societies.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
