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Mahindra Rural Housing Finance Ltd said that National Housing Bank (NHB) has invested in its rights issue. The total rights issue was for Rs 50 crore.
NHBs investment in the issue is Rs 6.25 crore based on its 12.5 per cent share holding in MRFHL, a representative of the company said.
Mahindra Rural Housing Finance is a subsidiary of Mahindra & Mahindra Financial Services. “This investment reflects the bank’s focus on developing the housing finance industry by encouraging companies operating in niche areas.
This company, which operates in the rural space, has the potential for financial inclusion,” said R. V. Verma, Chairman and Managing Director, National Housing Bank.
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