National Housing Bank (NHB) has invested in Mahindra Rural Housing Finance (MRHFL) to encourage financial inclusion in housing finance. NHB, an existing shareholder in Mahindra & Mahindra Financial Services (MMFSL) has invested in MRHFL’s rights issue. MRHFL is a subsidiary company of MMFSL.
Headquartered in Mumbai, MRHFL seeks to expand access to cost-effective and flexible home loans to a wide base of customers in rural India, ensuring that the basic need of shelter of this large under banked customer base is met rapidly.
Mahindra & Mahindra Financial Services, part of the $15.9 billion Mahindra Group, is one of India’s leading non-banking finance companies with a pan India presence. Focused on the rural and semi-urban sector, it provides finance for vehicles and tractors and has the largest network of branches amongst NBFCs operating in these areas.
