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Kohinoor Mandal

KOLKATA, Jan. 25

HOUSING and Urban Development Corporation (Hudco) and Stock Holding Corporation of India Ltd (SHCIL) are engaged in negotiations for retailing housing loans.

The two institutions are willing to work out a distribution model and the details of the proposals under consideration, will be available soon.

The proposed tie-up will benefit both Hudco and SHCIL, which are seeking to enter into value-added areas.

The plan is based on the premise that housing loans are much in demand in the country.

According to Mr B.V. Goud, Managing Director of SHCIL, while talks are yet to reach a conclusive stage, the two parties are keen on taking up the proposal.

"We can utilise our existing network to reach out to prospective loan seekers,'' he said, adding the project would enable SHCIL to expand its reach.

SHCIL, it may be mentioned, is currently retailing select savings instruments such as RBI Relief Bonds.

It also plans to distribute insurance schemes in a big way. In fact, it has already resolved to tie up with the postal department for catering to a wider audience.

"We need to establish the right channels of communication and customer servicing... this is especially important in a vast country like ours,'' Mr Goud said.

Over the years, Hudco has slowly transformed itself from a mere housing company.

Currently, its most important activity is to provide "techno-financial'' assistance to individuals, organisations and even Governments.

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