Loan Applications Surge in India

In New Delhi, housing loans from commercial banks and financing companies have been experiencing a huge growth over the past few years as reported by the National Housing Bank of India.

According to RV Verma, chairman and managing director of NHB, “We’re giving a lot of thrust on the low and moderate housing segment, which is very large and consumers belonging to this segment are the actual users. Catering to this segment will bring stability to the housing sector.”

They are also planning to negotiate with the World Bank in having approval for a $500 million loan for low and moderate housing projects of the country, which could include rv loans and other alternative housing.

Currently, one of the thrusts of the Indian government is to push for an affordable housing policy for all.

“Going forward, affordable housing will emerge as options in the market to suit average Indian families,” the press release said.

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