Panthoibi Housing Finance Limited clarifies
Source: The Sangai Express

Imphal, December 11 2019: In connection with the State Level Co-ordination Committee (SLCC) meeting held on December 9 at Guwahati which mentioned Panthoibi Housing Finance Limited under "unauthorised collection of deposits" in its agendas, the Managing Director of Panthoibi Housing Finance Company Limited Th Hemo has clarified that it has not accepted any deposit in the name of Panthoibi Housing Finance Company Limited.

Addressing the media persons during a press meet held at its office in Uripok Tourangbam Leikai today, he maintained it requires approval from the National Housing Bank to accept deposits and to follow the same the rate of interest given by banks.

However, he further explained that Panthoibi Nidhi Limited, which is the sister company of Panthoibi Housing Finance Limited, provides the opportunity of accepting deposits.

He continued that it accepts deposit at the maximum rate of 12.5 percent per year.

Panthoibi Nidhi Limited is regulating under the guidance of RBI and holds licence under the Ministry of Corporate Affairs, GoI.

Reiterating that Panthoibi Housing Finance Company Limited does not accept any deposit, he further clarified that the company receives its funds from Paidup Capital from shareholders, NHB refinance facilities and other funding agencies.

Panthoibi Housing Finance Company Limited completed 14 years of its journey on September 7 this year, he said while adding that it established Panthoibi Housing Finance after becoming a reputed finance company.

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