The country’s largest private sector lender, ICICI bank is aiming to lend Rs 2 lakh crores as home loans portfolio by the end of the financial year 2020. Currently, the bank’s home loan portfolio is worth Rs 1.5 lakh crore.
Anup Bagchi,executive director, said “We have crossed the milestone of disbursing over Rs 1.5 trillion of mortgage loans, in a profitable manner with the lowest delinquency in the industry”He also said that the bank is expanding in tier 2/3 cities as well as micro markets so that major cities can grow its home loan portfolio.
The bank will add 50% more loan processing centres from the present 1050, the average ticket size of the home loans was about Rs 30 lakh and delinquencies were only a few bps (basis points) in this segment, said Mr Bagchi.
India estimated to provide a home to 78 million homeless people, including 11 million street children. According to the 2011 census, there were 28% less homeless people from rural areas and 20% less homeless people living in the cities compared to 2001.