PNB Housing Finance obtains refinance sanction of Rs 3,500 crore from National Housing Bank

NEW DELHI: PNB Housing Finance on Monday said it has obtained refinance sanction of Rs 3,500 crore from the National Housing Bank (NHB) in October 2018.nn”The funds will be utilised for the specific sector wise disbursements/ end uses as per norms of the respective NHB refinance schemes,” PNB Housing Finance said in a regulatory filing.nnPNB Housing Finance Managing Director Sanjaya Gupta said the fresh sanction of Rs 3,500 crore will strengthen the company’s liquidity and also help in boosting the economic growth.nnThe company had also raised a total of Rs 4,225 crore through commercial papers (CP) last month.nnPNB Housing Finance is engaged in the business of providing loans for purchase or construction of residential houses.nnShares of PNB Housing Finance were trading 3.90 per cent higher at Rs 965 apiece on BSE.nnSource: Press Trust of India