REPORT ON TREND AND PROGRESS OF HOUSING IN INDIA

REPORT ON TREND AND PROGRESS OF HOUSING IN INDIA - JUNE, 2001-02

As on 31st March, 2002 the total number of companies in the mailing list of NHB was 349 as against 342 in the preceding year. In terms of Section 29A of the National Housing Bank Act, 1987 (as amended in 2000), effective from 12th June, 2000, companies are required to obtain Certificate of Registration from NHB to be eligible to carry on or commence the business of a Housing Finance Institution (HFI). Of these 349 companies, 257 had failed to apply for registration within the stipulated period and, therefore, these companies have become ineligible to carry on the business of HFI. NHB has received data from 78 HFCs (including the HFCs which had failed to apply for registration) under its system of off-site supervision in terms of the Housing Finance Companies (NHB) Directions, 2001. For the purpose of analysis of the data, these 78 HFCs are grouped into three categories as follows:

Categories of HFCs 31st March, 2000 31st March, 2001 31st March, 2002
A] HFCs which have furnished the data 83 85 78
Out of above;A1] HFCs approved for financial assistance from NHB (approved HFCs) 26 28 29
A2] HFCs having NOF of Rs.50 lakh and above(excluding approved HFCs) 29 26 25
A3] HFCs having NOF less than Rs.50 lakh (other HFCs) 28 31 24
As the financial year of most of the HFCs is from April to March, the financial data given in this chapter is as on 31st March.

During the year 2001-02, there has been an increase in the paid up capital of the approved HFCs. Paid up capital which was Rs.1892.55 crore as on 31st March, 2001 increased to Rs.2243.93 crore as on 31st March, 2002, an increase of Rs.351.38 crore. As a result of increase in the paid up capital, aggregate NOF of this category of HFCs, which constitute the major part of the housing finance sector, increased by 21.60% (previous year 16.63%) from Rs.5483.54 crore as on 31st March, 2001 to Rs.6667.83 crore as on 31st March, 2002. Aggregate NOF of HFCs having NOF of Rs.50 lakh and above marginally increased from Rs.71.60 crore as on 31st March, 2001 to Rs.72.32 crore as on 31st March, 2002 while NOF of other HFCs stood at negative Rs.6.92 crore as against Rs.0.67 crore as on 31st March, 2001. On an overall basis, NOF increased from Rs.5555.81 crore as on 31st March, 2001 to Rs.6733.23 crore as on 31st March, 2002, a net increase of Rs.1177.42 crore.

Coupled with the increase in the paid up capital as well as in the NOF, outstanding housing loans, which were Rs.33249.80 crore as on 31st March, 2001 increased by 25.85% to Rs.41843.65 crore as on 31st March, 2002. Of the total outstanding housing loans of Rs.41843.65 crore as on 31st March, 2002, the approved HFCs account for Rs.41678.42 crore, representing 99.61% of the total housing loan portfolio of the reporting HFCs. Similarly, of the total outstanding public deposits of Rs.11268.18 crore as on 31st March, 2002, approved HFCs account for Rs.11216.90 crore, representing 99.54% of the total outstanding public deposits of the reporting HFCs.

Broad financial information as on 31st March, 2002 (Rs. in crore)
Category of HFC Paid up capital* Free Reserves Net Owned Fund(NOF) Public Deposits o/s Housing Loans o/s
A1] HFCs approved for financial assistance from NHB
As on 31st March, 2002 2243.93 4596.86 6667.83 11216.90 41678.43
As on 31st March, 2001 1892.55 3921.18 5483.54 8640.90 33100.96
As on 31st March, 2000 1393.88 3426.00 4701.62 7180.98 25140.13
A2] HFCs having NOF Rs.50 lakh and above (excluding approved HFCs)
As on 31st March, 2002 66.08 14.54 72.32 40.92 137.34
As on 31st March, 2001 68.39 12.93 71.60 51.98 127.41
As on 31st March, 2000 121.82 11.62 124.71 44.98 175.95
A3] Other HFCs
As on 31st March, 2002 12.03 1.06 (6.92) 10.36 27.88
As on 31st March, 2001 10.01 0.59 0.67 26.41 21.43
As on 31st March, 2000 5.94 0.53 3.75 7.47 9.93
A] Total
As on 31st March, 2002 2322.04 4612.46 6733.23 11268.18 41843.65
As on 31st March, 2001 1970.95 3934.70 5555.81 8719.29 33249.80
As on 31st March, 2000 1521.64 3438.15 4830.08 7233.43 25326.01
Source: Annual returns
* including preference shares which are compulsorily convertible into equity.

Housing Finance by HFCs eligible for NHB refinance (Rs. in crore)
1999-2000 2000-2001 2001-2002
SANCTIONED 14351.20 14829.16 17633.27
DISBURSED 9812.03 12637.85 14614.44
*figures given in this table are enumerated from the published reports of approved HFCs/quarterly data and not from statutory returns & HUDCO figures include disbursement for land acquisition, integrated low cost and sanitation programme, other Government action plan as well as individual housing loan of HUDCO Niwas

Public deposits

The aggregate outstanding public deposits with all reporting HFCs increased by 29.23% to Rs.11268.18 crore as on 31st March 2002 as against the previous year’s figures of Rs.8719.29 crore.

A1] HFCs approved for financial assistance from NHB

The outstanding public deposits with the approved HFCs which stood at Rs.8640.90 crore as on 31st March, 2001 rose by Rs.2576.00 crore and stood at Rs.11216.90 crore as on 31st March, 2002, an increase of 29.81% over previous year.

A2] HFCs having NOF of Rs.50 lakh and above (excluding approved HFCs)

The outstanding public deposits with HFCs having NOF Rs.50 lakh and above were Rs.40.92 crore as on 31st March, 2002 as against Rs.51.98 crore as on 31st March 2001, decrease of Rs.11.06 crore. This was largely due to the fact that certain HFCs in this category became ineligible to hold / accept fresh deposits on account of non-compliance with the provisions of the NHB Directions / NHB Act.

A3] Other HFCs

The outstanding public deposits with other HFCs, which were Rs.26.41 crore as on 31st March, 2001 substantially reduced to Rs.10.36 crore as on 31st March 2002. Reduction in the public deposits of this category of HFCs is due to the fact that most of the HFCs became ineligible to hold / accept fresh deposits on account of non-compliance with the provisions of the Directions/NHB Act.

Classification of public deposits

The classification of public deposits as per the size, maturity and interest rate for different categories of HFCs is given below:

Size-wise classification

A] All reporting HFCs

The share of public deposits of over Rs.1,00,000 which accounted for 52.35% of the total deposits as on 31st March, 2001 increased to 56.67% as on 31st March, 2002.

Size-wise public deposits with all reporting HFCs (Rs. in crore)
Outstanding public deposits as on 31st March
Size 2000 2001 2002
Amount % Amount % Amount %
Upto Rs.5,000 104.47 1.44 84.14 0.97 53.55 0.47
Rs.5,001 to Rs.10,000 343.69 4.75 353.15 4.05 467.13 4.15
Rs.10,001 to Rs.25,000 877.88 12.14 1042.04 11.95 1240.28 11.01
Rs.25,001 to Rs.50,000 1208.55 16.71 1393.31 15.98 1808.71 16.05
Rs.50,001 to Rs.1,00,000 1042.24 14.41 1281.89 14.70 1313.09 11.65
Over Rs.1,00,000 3656.60 50.55 4564.76 52.35 6385.42 56.67
Total 7233.43 100.00 8719.29 100.00 11268.18 100.00

A1] HFCs approved for financial assistance from NHB

The approved HFCs, which held 99.54% (previous year 99.10%) of the public deposits outstanding with all reporting HFCs as on 31st March, 2002, have 56.80% of their deposits in the deposit-size of over Rs.1,00,000 while the deposits of upto Rs.25,000 account for 15.49%.

Size-wise public deposits with approved HFCs (Rs. in crore)
Outstanding public deposits as on 31st March
Size 2000 2001 2002
No. of A/cs Amount No. of A/cs Amount No. of A/cs Amount
Upto Rs.5,000 234406 100.88 177287 79.19 111720 50.56
(1.40) (0.92) (0.45)
Rs.5,001 to Rs.10,000 366176 335.68 362929 344.51 448208 461.71
(4.67) (3.99) (4.11)
Rs.10,001 to Rs.25,000 460970 861.00 537171 1015.99 618364 1225.68
(11.99) (11.76) (10.93)
Rs.25,001 to Rs.50,000 295162 1199.70 335930 1379.86 438872 1799.16
(16.71) (15.97) (16.04)
Rs.50,001 to Rs.1,00,000 133295 1037.60 162962 1275.82 161266 1308.67
(14.45) (14.76) (11.67)
Over Rs.1,00,000 47522 3646.12 57502 4545.53 71092 6371.12
(50.78) (52.60) (56.80)
Total 1537531 7180.98 1633781 8640.90 1849522 11216.90
Figures in brackets indicate % share

A2] HFCs having NOF of Rs.50 lakh and above (excluding approved HFCs)

The maximum amount of public deposits outstanding with these HFCs is seen in the size of over Rs.1,00,000. The share of this size of deposits has increased from 25.20% as on 31st March, 2001 to 32.89% as on 31st March, 2002. Public deposits upto Rs.25,000 held by this category of HFCs account for 40.27%.

Size-wise public deposits with HFCs having NOF of Rs.50 lakh and above (excluding approved HFCs) (Rs. in crore)
Outstanding public deposits as on 31st March
Size 2000 2001 2002
No. of A/cs Amount No. of A/cs Amount No. of A/cs Amount
Upto Rs.5,000 8667 2.50 7499 2.21 4319 1.41
(5.56) (4.25) (3.45)
Rs.5,001 to Rs.10,000 7964 6.74 7569 6.53 3812 3.43
(14.98) (12.56) (8.38)
Rs.10,001 to Rs.25,000 8867 14.35 10546 16.74 6837 11.64
(31.90) (32.21) (28.45)
Rs.25,001 to Rs.50,000 1815 7.22 2312 9.35 1960 7.57
(16.05) (17.99) (18.50)
Rs.50,001 to Rs.1,00,000 545 3.97 562 4.05 468 3.41
(8.83) (7.79) (8.33)
Over Rs.1,00,000 190 10.20 242 13.10 222 13.46
(22.68) (25.20) (32.89)
Total 28048 44.98 28730 51.98 17618 40.92
Figures in brackets indicate % share

A3] Other HFCs

In this category of HFCs, concentration of public deposits was highest in the size-group of Rs.10,001 to Rs.25,000 representing 28.59% of the total outstanding deposits followed by the size-group of Rs.5,001 to Rs.10,000 representing 19.23% of the total deposits outstanding as on 31st March, 2002. Public deposits of these HFCs which had increased from Rs.7.47 crore as on 31st March, 2000 to Rs.26.41 crore as on 31st March, 2001 have decreased to Rs.10.36 crore as on 31st March, 2002. In this context, it may be mentioned that outstanding public deposits of these HFCs are expected to further decrease in the coming years, as HFCs having NOF below Rs.25 lakh are no longer eligible to accept public deposits.

Size-wise public deposits with other HFCs
(Rs. in crore)
Outstanding public deposits as on 31st March
Size 2000 2001 2002
No. of A/cs Amount No. of A/cs Amount No. of A/cs Amount
Upto Rs.5,000 9992 1.09 20284 2.74 9284 1.58
(14.59) (10.38) (15.25)
Rs.5,001 to Rs.10,000 1624 1.27 3744 2.11 2507 1.99
(17.00) (7.99) (19.21)
Rs.10,001 to Rs.25,000 1500 2.52 5828 9.31 1785 2.96
(33.73) (35.25) (28.57)
Rs.25,001 to Rs.50,000 450 1.64 1645 4.10 507 1.98
(21.96) (15.52) (19.11)
Rs.50,001 to Rs.1,00,000 106 0.67 278 2.02 138 1.02
(8.97) (7.65) (9.85)
Over Rs.1,00,000 23 0.28 82 6.13 25 0.83
(3.75) (23.21) (8.01)
Total 13695 7.47 31861 26.41 14246 10.36
Figures in brackets indicate % share

The above data clearly indicates that the approved HFCs can achieve a substantial increase in the resource base if they strive to exploit the huge potential of the relatively small depositors as well.

Maturity-wise Classification

An analysis of maturity wise classification of public deposits indicates that the depositors still prefer public deposits having maturity period of 24 months or more but less than 48 months. As much as 49.28% (previous year 56.25%) of the deposits outstanding with the HFCs are concentrated in this category. However, the percentage of outstanding deposits having maturity period of above 60 months also increased to around 36% as on June 30, 2002 as compared to 28.36% during the previous year.

A] All reporting HFCs

The public deposits with maturity period of 12 months or more but less than 24 months though showing decreasing trend in percentage term, has increased from Rs.736.44 crore as on 31st March, 2001 to Rs.871.37 crore as on 31st March, 2002. Similarly, public deposits with a maturity period of 24 months or more but less than 48 months also increased from Rs.4904.79 crore as on 31st March, 2001 to Rs.5553.14 crore as on 31st March, 2002, but in percentage term, it has reduced from 56.25% to 49.28% of the total outstanding deposits as on 31st March, 2001 and 31st March, 2002, respectively. Considering the fact that the housing loans are long-term in nature and 57.10% (previous year 64.81%) deposits having a maturity period of less than 48 months, the HFCs are required to have better asset-liability management in place.

Maturity-wise public deposits with all reporting HFCs (Rs. in crore)
Outstanding public deposits as on 31st March
Maturity period 2000 2001 2002
Amount % Amount % Amount %
Less than 12 months 13.81 0.19 9.98 0.11 9.55 0.09
12 months or more but less than 24 months 915.22 12.65 736.44 8.45 871.37 7.73
24 months or more but less than 48 months 4007.01 55.40 4904.80 56.25 5553.14 49.28
48 months or more but less than 60 months 420.17 5.81 344.91 3.96 192.06 1.70
60 months 1244.68 17.21 1727.86 19.82 2510.03 22.28
More than 60 months but less than 84 months 315.88 4.37 413.49 4.74 617.53 5.48
84 months 316.65 4.37 331.52 3.80 926.27 8.22
More than 84 months 0.01 0.00 250.29 2.87 588.23 5.22
Total 7233.43 100.00 8719.29 100.00 11268.18 100.00

A1] HFCs approved for financial assistance from NHB

In this category of HFCs, maturity-wise the largest component of outstanding public deposits was in the slab of 24 months or more but less than 48 months. The same were Rs.4876.59 crore as on 31st March, 2001 and have increased to Rs.5533.08 crore as on 31st March, 2002, representing a growth of 13.46% (previous year 22.51%). Similarly, public deposits of maturity period of 60 months and more increased from a level of Rs.2701.80 crore as on 31st March, 2001 to Rs.4624.97 crore as on 31st March, 2002. This is indicative of the fact that in view of the downward trend in the movement of interest rates, public are keeping their savings in deposits for a longer period and also investing in debentures/bonds of longer period issue by this categories of HFCs. Amount of public deposits with maturity period of more than 84 months which represent 5.22% of the aggregate deposits held by all reporting companies, is in respect of bonds / debentures issued by these companies.

Maturity-wise public deposits with approved HFCs (Rs. in crore)
Outstanding public deposits as on 31st March
Maturity period 2000 2001 2002
No. of A/cs Amount No. of A/cs Amount No. of A/cs Amount
Less than 12 months 4014 13.68 3279 9.46 3442 9.52
(0.19) (0.11) (0.09)
12 months or more but 156514 907.64 151238 711.35 188370 860.37
less than 24 months (12.64) (8.23) (7.67)
24 months or more but 678941 3980.61 785681 4876.59 898151 5533.08
less than 48 months (55.43) (56.44) (49.33)
48 months or more but 256452 416.73 151105 341.70 35987 188.96
less than 60 months (5.80) (3.95) (1.68)
60 months 236064 1233.24 278760 1713.54 276352 2497.41
(17.18) (19.83) (22.27)
More than 60 months but 149582 315.16 159689 412.93 161083 617.10
less than 84 months (4.39) (4.78) (5.50)
84 months 55964 313.92 42118 325.05 223697 922.23
(4.37) (3.76) (8.22)
More than 84 months 0.00 0.00 61911 250.28 62440 588.23
(0.00) (2.90) (5.24)
Total 1537531 7180.98 1633781 8640.90 1849522 11216.90
Figures in brackets indicate % share

A2] HFCs having NOF of Rs.50 lakh and above (excluding approved HFCs)

As per the general trend observed during the last year in this category of HFCs and also in the approved HFCs, the amount of public deposits in the slab of 24 months or more but less than 48 months were the highest for this category of HFCs. Public deposits in this category, which were Rs.22.01 crore as on 31st March, 2001, though declined to Rs.16.70 crore as on 31st March, 2002, yet accounted for 40.82% (previous year 42.34%) of the total outstanding public deposits with this category of HFCs.

Maturity-wise public deposits with HFCs having NOF of Rs.50 lakh and above (excluding approved HFCs) (Rs. in crore)
Outstanding public deposits as on 31st March
Maturity period 2000 2001 2002
No. of A/cs Amount No. of A/cs Amount No. of A/cs Amount
Less than 12 months 55 0.05 227 0.39 48 0.02
(0.11) (0.75) (0.05)
12 months or more but 4952 6.46 6181 11.06 5308 10.50
less than 24 months (14.36) (21.28) (25.65)
24 months or more but 9165 22.61 7879 22.01 4135 16.70
less than 48 months (50.27) (42.34) (40.82)
48 months or more but 1940 2.91 1769 2.88 1096 2.33
less than 60 months (6.47) (5.54) (5.70)
60 months 8773 9.91 9669 12.78 5733 9.78
(22.03) (24.59) (23.91)
More than 60 months 229 0.36 230 0.36 178 0.28
but less than 84 months (0.80) (0.69) (0.68)
84 months 2934 2.68 2775 2.50 1120 1.31
(5.96) (4.81) (3.19)
More than 84 months 0 0.00 0 0.00 0 0.00
(0.00) (0.00) (0.00)
Total 28048 44.98 28730 51.98 17618 40.92
Figures in brackets indicate % share

A3] Other HFCs

The public deposits of this category of HFCs have shown declining trend during the year. This is due to the fact that most of these HFCs have become ineligible to hold / accept fresh deposits on account of non-compliance with the provisions of the Directions / NHB Act by most of these HFCs. As on 31st March, 2002, the maximum amount of deposits with this category of HFCs were also with the maturity period of 24 months or more but less than 48 months followed by maturity period of 60 months.

Maturity-wise public deposits with other HFCs (Rs. in crore)
Outstanding public deposits as on 31st March
Maturity period 2000 2001 2002
No. of A/cs Amount No. of A/cs Amount No. of A/cs Amount
Less than 12 months 604 0.08 78 0.13 3 0.01
(1.07) (0.49) (0.10)
12 months or more but 3207 1.13 7051 14.03 374 0.51
less than 24 months (15.13) (53.12) (4.92)
24 months or more but 5895 3.80 6725 6.20 2338 3.36
less than 48 months (50.87) (23.48) (32.43)
48 months or more but 1050 0.53 255 0.33 518 0.76
less than 60 months (7.09) (1.25) (7.33)
60 months 2583 1.52 2937 1.54 2534 2.83
(20.35) (5.83) (27.32)
More than 60 months but 214 0.35 131 0.20 94 0.15
less than 84 months (4.69) (0.76) (1.45)
84 months 36 0.05 14564 3.97 8385 2.74
(0.67) (15.03) (26.45)
More than 84 months 106 0.01 120 0.01 0 0.00
(0.13) (0.04) (0.00)
Total 13695 7.47 31861 26.41 14246 10.36
Figures in brackets indicate % share

Interest rate-wise Classification

A] All reporting HFCs

Keeping pace with the declining trend in the interest rates observed in the financial sector, the maximum amount of deposits cluster around the interest rate of 9% to below 11%, which account for 62.03% (previous year 39.80%) followed by interest rate of 11% to below 13% which account for 26.58% of the public deposits outstanding as on 31st March, 2002. Outstanding deposits in the interest rate between 9% to 11% have increased from 39.80% to Rs.62.03% during the year ended March, 2002. Deposits carrying interest rates of 11% or more have fallen from 59.88% to 33.02% as on 31st March, 2001 and 31st March, 2002, respectively.

Interest rate-wise public deposits of all reporting HFCs (Rs. in crore)
Outstanding public deposits as on 31st March
Rate of interest 2000 2001 2002
(Rate per annum) Amount % Amount % Amount %
Below 6% 8.61 0.12 9.84 0.11 8.74 0.08
6% to below 9% 9.46 0.13 18.75 0.21 548.38 4.87
9 % to below 11% 1336.57 18.48 3470.14 39.80 6990.08 62.03
11% to below 13% 3929.20 54.32 3825.00 43.87 2994.91 26.58
13% or more 1949.59 26.95 1395.56 16.01 726.07 6.44
Total 7233.43 100.00 8719.29 100.00 11268.18 100.00

A1] HFCs approved for financial assistance from NHB

With this category of HFCs, in the interest bracket of 9% to below 11%, the public deposits substantially increased from Rs.3458.93 crore as on 31st March, 2001 to Rs.6969.43 crore as on 31st March, 2002, representing 62.13% (previous year 40.03%) of the total deposits held by them. On the other hand, in the interest bracket of 11% to below 13%, the public deposits decreased from Rs.3796.88 crore (previous year Rs.3919.02 crore) as on 31st March, 2001 to Rs.2979.98 crore as on 31st March, 2002, representing 26.57% of the total deposits held by them. This can partly be attributed to the growing competition in the housing finance sector compelling HFCs to mobilize funds at a lower interest rate. This also indicates the effort by the HFCs to repay the high cost public deposits.

Interest rate-wise public deposits with approved HFCs (Rs. in crore)
Outstanding public deposits as on 31st March
Rate of interest 2000 2001 2002
(Rate per annum) No. of A/cs Amount No. of A/cs Amount No. of A/cs Amount
Below 6% 2928 8.05 3274 9.46 3187 8.73
(0.11) (0.11) (0.08)
6% to below 9% 11347 9.42 14167 18.63 96558 548.30
(0.13) (0.22) (4.89)
9 % to below 11% 252127 1335.56 669835 3458.93 1158641 6969.43
(18.60) (40.03) (62.13)
11% to below 13% 618279 3919.02 542522 3796.88 439480 2979.98
(54.58) (43.94) (26.57)
13% or more 652850 1908.93 403983 1357.00 151656 710.46
(26.58) (15.70) (6.33)
Total 1537531 7180.98 1633781 8640.90 1849522 11216.90
Figures in brackets indicate % share

A2] HFCs having NOF of Rs.50 lakh and above (excluding approved HFCs)

The HFCs having NOF of Rs.50 lakh and above are more reliant on the comparatively high cost funds vis-à-vis approved HFCs. However, these HFCs are also reducing their high cost deposits. This is evident from the fact that deposits bearing interest rates 13% or more, which were Rs.27.27 crore as on 31st March, 2001 come down to Rs.10.00 crore as on 31st March, 2002. Similarly, the deposits bearing interest rates of 11% to below 13% have decreased from Rs.16.36 crore to Rs.12.30 crore during the period of one year under review. In the year ended March 2001, almost 84% of the outstanding deposits of these HFCs were in the interest slab of more than 11% (which was around 70% for the approved HFCs) and it came down to 54.50% in the year ended March 2002 (which was around 33% for approved HFCs). On overall basis also, public deposits held by these HFCs have decreased from Rs.51.98 crore to Rs.40.92 crore as on 31st March, 2001 and 31st March, 2002 respectively.

Interest rate-wise public deposits with HFCs having NOF of Rs.50 lakh & above (excluding approved HFCs) (Rs. in crore)
Outstanding public deposits as on 31st March
Rate of interest 2000 2001 2002
(Rate per annum) No. of A/cs Amount No. of A/cs Amount No. of A/cs Amount
Below 6% 136 0.28 2 0.00* 0 0.00
(0.62) (0.00) (0.00)
6% to below 9% 4 0.01 208 0.04 194 0.08
(0.02) (0.08) (0.19)
9 % to below 11% 840 0.41 4126 8.31 6740 18.54
(0.91) (15.99) (45.31)
11% to below 13% 6611 9.57 8330 16.36 5095 12.30
(21.28) (31.47) (30.06)
13% or more 20457 34.71 16064 27.27 5589 10.00
(77.17) (52.46) (24.44)
Total 28048 44.98 28730 51.98 17618 40.92
Figures in brackets indicate % share
*Amount less than Rs.50,000/-

A3] Other HFCs

In this category of HFCs, public deposits decreased to Rs.10.36 as on 31st March,.2002 from Rs.26.41 crore as on 31st March, 2001 due to the fact that most of the HFCs under this category which were holding public deposits are not eligible to accept fresh public deposits. Public deposits bearing interest rate of 13% or more constitute 54.15% while public deposits bearing interest rate of 11% to below 13% constitute 25.39% of the public deposits outstanding with these HFCs as on 31st March, 2002. This indicates the inability of this category of HFCs to attract low cost funds.

Interest rate-wise public deposits with other HFCs (Rs. in crore)
Outstanding public deposits as on 31st March
Rate of interest 2000 2001 2002
(Rate per annum) No. of A/cs Amount No. of A/cs Amount No. of A/cs Amount
Below 6% 995 0.28 1304 0.38 0 0.00
(3.75) (1.44) (0.00)
6% to below 9% 543 0.03 704 0.08 0 0.00
(0.40) (0.30) (0.00)
9 % to below 11% 6466 0.60 14443 2.90 7801 2.12
(8.03) (10.98) (20.46)
11% to below 13% 604 0.60 6540 11.76 2047 2.63
(8.03) (44.53) (25.39)
13% or more 5087 5.96 8870 11.29 4398 5.61
(79.79) (42.75) (54.15)
Total 13695 7.47 31861 26.41 14246 10.36
Figures in brackets indicate % share

Borrowings and other deposits (excluding public deposits)

A] All reporting HFCs

The aggregate outstanding borrowings of HFCs as on 31st March, 2002 were Rs.38183.88 crore as compared to Rs.28191.02 crore as on 31st March, 2001, showing an increase of around 35% over previous year.

A1] HFCs approved for financial assistance from NHB

Besides public deposits, the borrowings of these HFCs are from Banks, Financial Institutions, refinance from NHB, financial assistance from foreign Governments/ authorities, money received by way of subscription to debentures/bonds floated by the HFCs, etc. Borrowings of the approved HFCs increased to Rs.38099.45 crore as on 31st March, 2002 as compared to Rs.28130.84 crore as on 31st March, 2001.

A2] HFCs having NOF of Rs.50 lakh and above (excluding approved HFCs)

The outstanding total borrowings of these HFCs, which stood at Rs.49.89 crore as on 31st March, 2001 increased to Rs.66.01 crore as on 31st March, 2002.

A.3] Other HFCs

The amount of borrowings of other HFCs which was Rs.10.29 crore as on 31st March, 2001 increased to Rs.18.42 crore as on 31st March, 2002, an increase of Rs.8.13 crore.

Housing Loans

A] All reporting HFCs

The aggregate outstanding housing loans of all reporting HFCs, which were Rs.33249.80 crore as on 31st March, 2001 increased by 25.85% and stood at Rs.41843.65 crore as on 31st March, 2002.

A.1] HFCs approved for financial assistance from NHB

The outstanding housing loans of approved HFCs which stood at Rs.33100.96 crore as on 31st March, 2001 increased to Rs.41678.43 crore as on 31st March, 2002, an increased of Rs.8577.47 crore (25.91%).

A.2] HFCs having NOF of Rs.50 lakh and above (excluding approved HFCs)

Aggregate outstanding housing loans of this segment of HFCs stood at Rs.137.34 crore as on 31st March, 2002 as compared to Rs.127.41 crore as on 31st March, 2001, increased of 7.79%.

A.3] Other HFCs

Aggregate outstanding housing loans of these HFCs, which were Rs.21.43, crore as on 31st March, 2001 increased by 30.10% to Rs.27.88 crore as on 31st March, 2002.

Other loans and advances

Other loans and advances outstanding of all reporting HFCs were Rs.9666.35 crore as on 31st March, 2002. Out of these, HUDCO accounted for Rs.8192.87 crore which was mainly urban and infrastructure loans. Besides, HDFC accounted for Rs.1154.31 crore which mainly included loans to companies not in the same group. Approved HFCs accounted for 99.67% of these loans and advances.

Investments

A] All reporting HFCs

Aggregate investments of all reporting HFCs, which stood at Rs.5325.26 crore as on 31st March, 2001, increase to Rs.5702.07 crore as on 31st March, 2002, an increase of 7.08% over previous year.

A.1] HFCs approved for financial assistance from NHB

The investments of this segment of HFCs have increased to Rs.5676.82 crore as on 31st March, 2002 from Rs.5296.89 crore as on 31st March, 2001 showing an increase of 7.17% over previous year.

A.2] HFCs having NOF of Rs.50 lakh and above

The investments of these HFCs stood at Rs.17.75 crore as on 31st March, 2002 as compared to Rs.21.77 crore as on 31st March, 2001, decline of 4.02 crore.

A.3] Other HFCs

The investments of other HFCs has also increased to Rs.7.50 crore as on 31st March, 2002 as compared to Rs.6.60 crore as on 31st March, 2001, an increase of Rs.0.90 crore.