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BANKING/FINANCE: NHB to select mortgage guarantee biz partner soon.
from BUSINESS LINE, September 28, 2010 New Delhi, Sept. 27 - National Housing Bank(NHB) on Monday said that it will decide on a technical partner for its mortgage guarantee foray in the next one month.
The technical partner will hold 36 per cent equity stake in the mortgage guarantee company and would also be responsible for managing the business, Mr R.V. Verma, Chairman and Managing Director of NHB, told Businessline here.
Asian Development Bank (ADB) and International Finance Corporation (IFC) will each take a 13 per cent stake. NHB as the lead partner will hold 38 per cent stake in the proposed venture.
The initial paid-up capital of the venture will be …
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