New Delhi, June 28: National Housing Bank has raised Rs 400 crore through private placement of bonds, mopping up a total Rs 2,700 crore during July 2002-June 2003. The bonds bearing a interest rate of 5.77 per cent and maturing after 63 months were part of Tier-II capital, a NHB release said.
RBI has permitted NHB to raise money from the market to shore up its capital.
"This would also help the dedicated housing finance institutions in enhancing their borrowing limits to a considerable extent for availing refinance from NHB," it said. Bureau Report