This project provides a loan to Tata Capital Housing Finance Limited, a housing finance institution. The funds will be used for the dissemination of mortgages in India, thus spurring housing construction.
1.Additional Reach: Tata Capital HF''s strategy is to expand its affordable housing portfolio across India, for which they have a unique ability to penetrate thanks to the strong Tata brand.
2. Pan-Indian Presence: Tata Capital HF is the appropriate partner for IFC to provide financing to under-served segment of the market as the Company is present all across India.
3. Cross- selling products: Tata Capital HF gives the opportunity to cross-sell services of the other group companies. In addition TCL is considering an affordable housing fund to invest in developers of affordable housing projects and has invited IFC to play a lead role in the structuring and design of the Fund and to act as an anchor investor. IFC will evaluate this opportunity on its own merits but it provides an example of the potential synergies that IFC can benefit from through its collaboration with TCL as it seeks to make a major impact in the housing finance area.
Tata Capital Limited (“TCL”) is a subsidiary of Tata Sons Limited and is registered with the RBI as a Systemically Important Non-Deposit Accepting Core Investment Company (“CIC”). As a CIC, TCL is primarily a holding company, holding investments in its subsidiaries and other group companies and carries out only such activities, as are permitted under the Directions issued by RBI for CICs. TCL and its subsidiaries are engaged in a wide array of services/products in the financial services sector and constitute the flagship financial services company of the Tata Group.
Tata Capital seeks to build strong relationships with its customers, and deliver a superior and consistent customer experience across all products and touch-points.
Mr.Puneet Sharma,Chief Financial Officer
Tata Capital Limited
1st Floor | A Wing | One Forbes | Dr. V. B. Gandhi Marg | Fort | Mumbai 400 001 | India
Board Line 91 22 6745 9000 | Direct Line 91 22 6745 9007 | Mob 91 9987615978
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/