Gunit Chadha, the former chief executive of Deutsche Bank's Asia-Pacific operations, has received National Housing Bank's approval for his proposed housing finance venture.
APAC Housing Finance, as part of APAC Financial Services, will be headed by Harpreet Singh, who had experience in setting up housing finance business in India.
NHB's website says that the license to APAC Housing is not valid for acceptance of public deposit.
APAC Financial Services has already secured non-banking finance company license from Reserve Bank of India.
Chadha, who is returning to India after half-a-decade, has formed a team of bankers to build a loans business is likely to focus on affordable housing, small businesses, microfinance and consumer lending.
Source - ET Realty
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