Demand for Housing growing: Bank official

Visakhapatnam, Sep 21 (UNI) Andhra Bank General Manager A L Nageswara Rao today said the demand for housing loan was very high all over the country.

Delivering the keynote address at a national seminar on Housing Finance 'opportunities, challenges and strategies,' Mr Rao said the Banking sector was facing several problems with the explosion in business opportunities and mounting pressures from new sectors.

Apart from education loans, business development and housing loans were the key driver for many Banks taking the major chunk of the loans, Mr Rao, who is also Indian Banks Association (IBA) secretary said.

Inagurating the seminar, Andhra University Vice Chancellor Prof L Venugopala Reddy said housing was the major basic human needs of the society.

More than 200 delegates from various sectors participated in the seminar.

UNI