NHB to raise Rs 11,000 crore by March next year

Kolkata, Jun 27 (UNI) National Housing Bank plans to raise Rs 11,000 crore by March, 2009 to meet its loan demand, its Chairman and Managing Director S Sridhar today said.

Of the total amount, the Bank would raise Rs 3,000 crore through zero coupon bonds and another Rs 1,000 through retail deposits, he told reporters on the sidelines of a Banking conclave here.

The Bank had also planned to set up a mortgage guarantee firm in four months, in which it will be the single largest stake holder, Mr Sridhar said.

UNI KDG SJC DB1822