Panthoibi first to get NHB license in NE
Source: The Sangai Express
Imphal, May 02 2013:
Panthoibi Housing Finance Company Limited (PHFCL) organised a conference on the topic, 'Housing - An essential and basic need for the human society' at its office yesterday coinciding with it becoming the first institution in the North East region to be granted a license by the National Housing Bank.
Speaking at the occasion, PHFCL Chairman and Managing Director Th Hemo said that PHFCL is the first company in the North East region which has acquired housing finance company license from the National Housing Bank.
Since its inception in 1988, the National Housing Bank has issued license to only 52 companies in the entire country, he added.
As an NHB licensed company, PHFCL is getting the oppor-tunity to take part in various National and International level conferences from time to time, thereby enjoying the chance to represent North East region in expressing views regarding financial solutions, he added.
Saying that the net owned fund (NOF) of the company must be maintained at Rs 10 crores to acquire refinance from NHB and FDI from foreign investors, Th Hemo sought co-operation and suggestions from various compa- nies present at the conference.
Of the required Rs 10 crores, PHFCL has arranged Rs 6 crores of its own, he said and added that PHFCL would like to offer shares to other companies for the remaining Rs 4 crores.