NHB places tier-II bonds of Rs 400 crore
Mumbai: The National Housing Bank says it has privately placed tier-II bonds of Rs 400 crore. The bonds carry a coupon rate of 5.77 per cent per annum and have a maturity of five years and three months. The bank refinanced primary lending institutions in the housing finance sector. During the period July 2002-June 2003, it released refinance of Rs 2,700 crore, an NHB release said. It added that the tier-II issue would help leverage refinance operations and increase lending limits to housing finance institutions.
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State co-op bank plans Rs 400-crore loans
Thiruvanathapuram: The Kerala State Co-operative Agricultural and Rural Development Bank has programmed to extend loans to the tune of Rs 400 crore for various schemes in the current year. Of this, Rs 164 crore will be made available for new agricultural development projects and land development schemes, while Rs 100 crore has been earmarked for starting industrial ventures and for buying of vehicles under the non-agriculture head. K. Sivadasan Nair, president, told newspersons here on Saturday that the bank, which had become one of the frontline housing finance agencies in the State, would disburse Rs 146 crore in this sector during the current year. The bank will introduce a gold loan scheme this year for the benefit of the farmers who are members of the primary agricultural and rural development banks in the State. With a ceiling of Rs 50,000, the loan will be available for periods of three and six months and one year and depending on the duration of the period, the interest rates will vary between 10 and 11 per cent. Nair said the interest on interest levied on the arrears due to the agricultural and rural development banks would be fully waived from July 1.
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