PNB Housing Finance obtains refinance sanction of Rs 35 billion from NHB

PNB Housing Finance Monday said it has obtained refinance sanction of Rs 35 billion from the National Housing Bank (NHB) in October 2018.

"The funds will be utilised for the specific sector wise disbursements/ end uses as per norms of the respective NHB refinance schemes," PNB Housing Finance said in a regulatory filing.

PNB Housing Finance Managing Director Sanjaya Gupta said the fresh sanction of Rs 35 billion will strengthen the company's liquidity and also help in boosting the economic growth.

The company had also raised a total of Rs 42.25 billion through commercial papers (CP) last month.

PNB Housing Finance is engaged in the business of providing loans for purchase or construction of residential houses.

Shares of PNB Housing Finance were trading 3.90 per cent higher at Rs 965 apiece on BSE.