NEW DELHI:
Punjab National Bank (PNB) will not participate in capital raise plans of its housing finance subsidiary, PNB Housing Finance, but the company will continue to scout for raising equity from other sources, according to a regulatory filing. In August last year, PNB Housing Finance Ltd had informed about its plan to raise tier I capital up to Rs 1,800 crore through various modes including QIP, preferential issue of shares or a rights issue.
To this, PNB was awaiting approval from the Reserve Bank to infuse capital into PNB Housing Finance. In this context, Punjab National Bank has communicated that it shall not be participating in the capital raise plans of the company. However, the company will continue to pursue the proposed capital raising plan through permitted modes, PNB Housing Finance said in a regulatory filing.
Updated Feb 21, 2021 | 05:59 IST
PNB Housing has also collaborated with leading insurance companies to offer customers best-in-class options for insurance products and services right at their doorstep PNB Housing’s Unnati home loan: What it offers for salaried individuals
New Delhi: In a bid to provide a boost to PM Narendra Modi s Housing for All mission, Punjab National Bank Housing Finance (PNB Housing Finance) has come forward and offered up to 90 per cent of the property value as home loan amount to the salaried individuals. The maximum home loan amount promised by PNB Housing Finance is Rs 35 lakh while the minimum home loan amount is Rs 8 lakh in Tier-1 cities. PNB Housing Finance is offering this home loan under Unnati Home Loan title. The home loan is being offered to both salaried and self-employed individuals and the lending institution has customized its offer for both types of home loan applicants.
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