Express News Service
NEW DELHI: With the aim of serving the housing needs of all segments of the population and focus on the low and moderate income section, National Housing Bank (NHB) has planned a review of the housing finance ecosystem to strengthen institutionalised credit flow for housing.
As the country aims to grow in to a $ 5 trillion economy by 2025, the housing finance industry is poised to play a role in achieving this target. A senior official said that to further strengthen and promote the housing finance system, NHB is planning to identify and implement new initiatives. These will assist in value creation for various stakeholders of the industry.
Though there has been steady expansion in credit flow into the sector, housing needs of the lower and moderate income and rural households have limited opportunities. A dedicated and sustainable (market-oriented) approach is required to serve this segment, said the official.
The NHB has floated a Request for Proposal (RFP) for the engagement of consultants to recommend new initiatives and prepare a road map for end-to-end implementation of the initiatives.
It will examine the organisational structure of NHB in the light of functions presently performed and an assessment report will be submitted to NHB for ratification. Besides, the consultant will identify gaps and areas for improvement.
Apart from this, the agency will carry out an in-depth SWOT analysis of the NHB and the housing sector and prepare a plan as per the mandate of the bank, with a detailed implementation road map based on feedback from all stakeholders. It will also review the housing finance ecosystem and identify opportunities in the sector and recommend measures for deepening the institutionalised credit flow for housing.
The NHB has also planned to review the existing ecosystem and provide a plan to develop state of the art IT infrastructure and user-friendly capabilities as per global standards to meet its current and future needs. It will also develop a technological plan based on global practices aligned to various roles and responsibilities of the bank.
To address the needs, the following mission has been envisaged — “Harness and promote the market potentials to serve the housing needs of all segments of the population with focus on low and moderate-income housing”.
