Both the companies will work closely with private and public sector companies and financial institutions to offer scalable investment banking products, groundbreaking solutions and actionable insights for more sustainable development along with an extensive outreach to long-term investors, including Impact funds, they said in a statement.

The Chief Minister congratulated the financial institution, providing assistance to micro, small, medium and large enterprises for setting up industrial, infrastructure projects in the region, for having completed 27 years of glorious existence.

Home loan demand in the rural areas have been on the rise primarily due to the government’s SVAMITVA scheme. The scheme provides people in the hinterland with the right to document their residential properties, which can then help them to use their properties for economic purposes. India's home loan market, currently valued at Rs 24 trillion, is projected to double in five years.

The Punjab National Bank-promoted housing finance company (HFC) presently has a corporate loan book size of Rs 6,006 crore which may come down further by Rs 1,000 crore by December, Hardayal Prasad, the Managing Director and Chief Executive Officer of PNB Housing Finance, said.

HDFC Ltd has raised the amount by way of external commercial borrowings (ECBs). "This landmark financing further promotes HDFC's longstanding mission to be the leading provider of housing finance in India. Proceeds from the social loan would go towards financing affordable housing loans," the company said.

At that point, online payments should contribute 20% of revenue, Pine Labs chief executive Amrish Rau said, disclosing the company's targets for the first time since it entered online payments. Valued at $5 billion and with investors including Mastercard and Singapore's Temasek, Pine Labs has for years provided point-of-sale machines to offline merchants for card payments.

The recent RBI regulations are more focused on payments businesses for regulating BNPL players. It should not have too much impact on the home loan market. On the other hand RBI is quite bullish in increasing the home loans penetration in India and in October last year came up with a circular to rationalize the risk weights on housing loans by linking them with LTC (Loan-to-Cost ratios) for loans sanctioned up to March 2022.

The states for which Post Devolution Revenue Deficit(PDRD) Grant has been recommended by the 15th Finance Commission during 2022-23 are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.