Page 316 - NHB AR 2020-21-3 complete- Print (1)
P. 316
of agreements with these Banks. The deposits are amortized in half yearly installments
maturing by 2022 and 2025, respectively and are utilized for repayment of loans from
ADB. In lieu of the USD deposit, these banks have subscribed to Special Series Bonds
issued by the Bank for ` 564 crores (` 77.90 crores is outstanding as on June 30, 2021).
These Special Series Bonds are repayable in half yearly installments till 2022 and 2025,
respectively.
26.3 The Bank has entered into agreements with KfW, Germany during the year 2010-11
for financing “Energy Efficient New Residential Housing” in India. The programme is
under an agreement concluded in May, 2009 between the Government of the Federal
Republic of Germany and Government of India on Financial Co-operation. The loan is
guaranteed by Government of India.
The total line of credit under the programme is Euro 50 million. Under the agreement,
there are two lines viz., Euro 38 million under Portion A (repayable in 18 half yearly
installment beginning from June 30, 2014) and Euro 12 million under Portion B (repayable
60 half-yearly installment beginning from June 30, 2021). The Bank has drawn the entire
amount of Euro 50 million (equivalent to ` 382.11 crores) and as on June 30, 2021, the
outstanding borrowing stood at Euro 18.135 million equivalent to ` 160.31 crore (after
revaluation). The principle and portion of interest are hedged against foreign exchange
risk.
26.4 Under the umbrella of India-UK bilateral development cooperation partnership agreed
between the two countries in July 2011, the Bank has entered into a collaboration with
Department for International Development, Government, U.K. for a project namely
“Making affordable housing market work for faster and sustained economic growth” in
eight low income states of the country. Under the programme, DFID will provide total
assistance of £50 million. The loan is repayable in eight equated half yearly instalments
starting June, 2017. The Bank has drawn the entire loan amount of £ 40 million (equivalent
` 380.87 crore). After all necessary repayments, the outstanding borrowing as on June
30, 2021 stood at Nil.
26.5 The Bank has entered into an Agreement with World Bank (WB) on August 14, 2013
followed by subsidiary loan agreement with Government of India on October 04, 2013 for
Low Income Housing Finance Project of SDR 66.1 million (USD 100 million equivalent).
Under this line of credit, World Bank will make disbursements to Government of India
(GoI) and GoI in turn would on-lend the rupee equivalent to the Bank. The amount on-
lent to the Bank will be fully repaid by the Bank and also has committed to meet the
entire liability, including that due to exchange rate variations, on the due dates, if any.
296 | Annual Report 2020-21
maturing by 2022 and 2025, respectively and are utilized for repayment of loans from
ADB. In lieu of the USD deposit, these banks have subscribed to Special Series Bonds
issued by the Bank for ` 564 crores (` 77.90 crores is outstanding as on June 30, 2021).
These Special Series Bonds are repayable in half yearly installments till 2022 and 2025,
respectively.
26.3 The Bank has entered into agreements with KfW, Germany during the year 2010-11
for financing “Energy Efficient New Residential Housing” in India. The programme is
under an agreement concluded in May, 2009 between the Government of the Federal
Republic of Germany and Government of India on Financial Co-operation. The loan is
guaranteed by Government of India.
The total line of credit under the programme is Euro 50 million. Under the agreement,
there are two lines viz., Euro 38 million under Portion A (repayable in 18 half yearly
installment beginning from June 30, 2014) and Euro 12 million under Portion B (repayable
60 half-yearly installment beginning from June 30, 2021). The Bank has drawn the entire
amount of Euro 50 million (equivalent to ` 382.11 crores) and as on June 30, 2021, the
outstanding borrowing stood at Euro 18.135 million equivalent to ` 160.31 crore (after
revaluation). The principle and portion of interest are hedged against foreign exchange
risk.
26.4 Under the umbrella of India-UK bilateral development cooperation partnership agreed
between the two countries in July 2011, the Bank has entered into a collaboration with
Department for International Development, Government, U.K. for a project namely
“Making affordable housing market work for faster and sustained economic growth” in
eight low income states of the country. Under the programme, DFID will provide total
assistance of £50 million. The loan is repayable in eight equated half yearly instalments
starting June, 2017. The Bank has drawn the entire loan amount of £ 40 million (equivalent
` 380.87 crore). After all necessary repayments, the outstanding borrowing as on June
30, 2021 stood at Nil.
26.5 The Bank has entered into an Agreement with World Bank (WB) on August 14, 2013
followed by subsidiary loan agreement with Government of India on October 04, 2013 for
Low Income Housing Finance Project of SDR 66.1 million (USD 100 million equivalent).
Under this line of credit, World Bank will make disbursements to Government of India
(GoI) and GoI in turn would on-lend the rupee equivalent to the Bank. The amount on-
lent to the Bank will be fully repaid by the Bank and also has committed to meet the
entire liability, including that due to exchange rate variations, on the due dates, if any.
296 | Annual Report 2020-21
