Bajaj Finance To Seek Licence To Launch Housing Finance Arm
Non-banking lender Bajaj Finance’s board has given its nod to launch a housing finance arm as a wholly-owned subsidiary. It will now apply to National Housing Bank for license.
“We are already extending home loans but this is under our finance company. We had not floated an HFC (house financing company) earlier as we wanted to first build the capabilities and the benefits of a separate entity was not felt as the size of the book was small,” said Sanjiv Bajaj, managing director, Bajaj Finserv.
The Pune-headquartered company has its presence in the mortgage sector and almost 40% of its Rs 27,000 crore book is mortgage products.