About Aadhar:
Aadhar Housing Finance Ltd. (AHFL) is promoted by Dewan Housing Finance Ltd.(DHFL) group with equity participation from International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries. The company Operates under Housing Finance license and is subject to the rules and regulations of National Housing Bank (NHB). The company is driven by independent functioning and management structure, with adherence to the highest standards of Corporate Governance. With the experience and guidance of two major organisations, DHFL and IFC, Aadhar has become an entity to reckon with in a short span of time.
The Focus:
Aadhar has set up its operations in 13 states namely Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Orissa, Jharkhand, Bihar, West Bengal, Gujarat, Rajasthan, Maharashtra, Punjab, Haryana and Uttarakhand. These states, as per Census 2011, account for 72% of the total Indian population. While there has been significant increase in the per capita income in these states, the lower and middle income groups, with income levels between Rs. 60,000 to Rs.6,00,000 per annum, have not fully enjoyed the benefits of this progress. They have been under-serviced for years by most institutions providing housing finance. Aadhar focuses on these segments specifically comprising of salaried, self-employed and agricultural income based population. To ensure that the focus does not shift from this group, the maximum home loan limit has been fixed at Rs. 25 lakhs. This channelized approach would result in dedicated, undiluted attention to this segment which would mean faster and greater growth for the segment thus impacting the nation as a whole.
About Dewan Housing Finance Ltd. (DHFL):
For over 30 years, DHFL has pioneered lending to people who find it impossible to get a housing loan on fair terms. Over the years, DHFL has gained strong expertise in catering to the needs of Lower and Middle Income segments. Having started as a privately funded company with modest means in 1984, DHFL has over a period of 30 years given loans to over a million families, and today has its presence in more than 350 locations across India. DHFL brings its requisite knowledge & expertise, proven systems and processes which is helpful in giving a strong footing for this new initiative.
About International Finance Corporation (IFC):
IFC is a World Bank arm which fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing capital in the international financial markets, and providing advisory services to business and governments. IFC's goal is to improve lives, especially for the people who most need the benefits of growth. IFC as a partner provides deep understanding about this segment as they have been working extensively in India, to cater to varied needs to this segment. They also provide Aadhar access to International knowledge and best practices.
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