PNB Housing Finance has raised $200 million (Rs 1,470 crore) through External Commercial Borrowing (ECB), it’s first under the automatic route of Reserve Bank of India (RBI). The funds will be used for normal business operations i.e. lending purpose. This year RBI has allowed housing finance companies to borrow through ECB under the automatic route.
PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.
