PNB Housing Finance is planning to manage its bad loans better from this month onwards, when the deadline of going soft on borrowers provided by the courts ends on August 31 and would ask the borrowers to start repaying if they are capable to do so.
The company's gross non-performing assets (NPAs) jumped to six percent of the gross advances (or Rs 3,625 crore) in the quarter ended June 30, 2021, from 2.7 percent by the end of June 2020, mainly on account of the impact of the second wave of the pandemic.
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.
