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Looking for a home loan? This startup is ensuring hassle-free loans with its automated platform


Looking for a home loan? This startup is ensuring hassle-free loans with its automated platform
Gurugram-based Basic Home Loans is working to digitise home loans and increase affordable loan penetration for middle and low-income households.
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Housing is a fundamental need and it determines the aspiration of a society. In the last decade, there has been a lot of innovation to support housing for middle and low-income groups from the government. It is also an area of interest for many financial institutions.
Basic Loans was founded by
Atul Monga, Kalyan Josyula, and Pranav Khattar in 2020 to make home loans a faster and stress free process. The startup is working to digitise home loans and increase affordable loan penetration for middle and low-income households. ....

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PSU banks go slow on asset sales, await privatisation list


PSU banks go slow on asset sales, await privatisation list
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PSU banks go slow on asset sales, await privatisation list
Mayur Shetty / TNN / Updated: Apr 3, 2021, 16:43 IST
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MUMBAI: Public sector banks that were not part of the consolidation process are going slow on their plans to monetise assets as part of their capital-raising efforts. These banks have decided to wait and see whether they are candidates for the government’s privatisation plan before initiating any stake sale.
The thinking is that private investors might see more value in a bank that has other businesses that can be grown. Last week, Central Bank of India allowed a deal to sell its housing finance arm Cent Bank Home Finance to fall through by not going ahead with the transaction before the long-stop date of March 31, 2021. ....

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Central Bank of India sells stake in housing finance biz


The PSU bank has entered into a binding agreement to divest its entire 64.40% stake in Cent Bank Home Finance to Centrum Housing Finance. This is to inform that the bank has entered into a binding agreement to divest its entire equity stake of 64.4% i.e. 1,61,00,000 shares of face value of Rs 10 each in Cent Bank Home Finance to Centrum Housing Finance, subject to approvals from regulatory authorities, Central Bank of India said in a regulatory filing on Thursday (24 December 2020).
According to a separate filing by Centrum Capital, the parent of Centrum Housing, the cost of acquisition is about Rs 160 crore. The company said the deal was expected to close in about 2-3 months. ....

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