SRG housing loans worth Rs 400 crore may be fictitious: National Housing Bank

The National Housing Bank has raised concerns over SRG Housing Finance, stating that approximately one-third of its loan portfolio may be fictitious, worth around Rs 400 crore. This means that a significant portion of the loans issued by SRG Housing Finance may not be legitimate, which could have serious implications for the lender's financial stability and the overall housing finance market. The discovery of these potentially fictitious loan accounts also raises concerns about the lender's governance and the potential for manipulation of non-performing assets and other practices.

Why it matters

The National Housing Bank has raised concerns over potentially fictitious loan accounts at SRG Housing Finance. This could lead to a loss of investor confidence and impact the housing finance sector.

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