Bajaj Finance gets nod for housing finance firm

Bajaj Finance has received approval from the National Housing Bank (NHB) to set up a housing finance company, as a wholly owned subsidiary. The company had applied for a licence to NHB through its subsidiary Bajaj Housing Finance last year and was granted the same on September 24, the company said on Tuesday.

Bajaj Finance, the lending arm of Bajaj Finserv, started its mortgages business in 2008 and currently offers home loans for small and medium-sized enterprises and salaried customers, loan against property, lease rental discounts, and developer finance products to its clients. The mortgages business forms 40 per cent of the company’s loan book of Rs 35,557 crore as on June 30.