Satin Credit’s subsidiary gets housing finance license from NHB, Stock up 4%


Satin Credit
Satin Housing Finance Limited, a wholly owned subsidiary of Satin Creditcare Network Limited, has been granted housing finance license from National Housing Bank (NHB) on November 14, 2017.

Satin Housing Finance has been granted Certificate of Registration (u/s 29 of the National Housing Bank Act, 1987) to commence the business of a Housing Finance, the registration no. being - 11.0161.17.

The wholly owned subsidiary of Satin Creditcare Network Ltd was incorporated on April 17, 2017, with the object to carry on the business of Housing Finance.

Satin Creditcare Network Limited (SCNL) is a Non-Banking Finance Company (NBFC) with the concept of providing loans to small and medium enterprises. Since then the company has expanded and evolved into one of the leading microfinance institutions in India with its current geography in North as well as Central India.

The housing finance portfolio will help the company to diversify the loan portfolio and to take benefits out of government schemes for housing development.

The stock has opened at a price of Rs 343, up by more than 4% in the morning session on NSE. 





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