DHFL seeks Rs 1,500 cr fresh loans a month to service Rs 80,000 cr debt

Under the proposal, Dewan Housing will offer banks new loan pools as security for the funds, That in turn will help lenders meet their mandatory targets to lend to farmers and small businesses

Dewan Housing Finance Corp., an Indian mortgage lender that has delayed payment on some of its obligations, plans to ask banks to lend Rs 15 billion ($217 million) every month to help revive the company, a person with knowledge of the proposal said.

The financier, which has about Rs 800 billion of obligations, will submit the resolution plan on July 10 to a consortium of seven lenders led by state-run Union Bank of India, the person said, asking not to be identified as the discussions are private. The other proposals include increasing the tenor of some loans and converting part