Gunit Chadha, the former CEO for Deutsche Bank AG's Asia operations, will move ahead with his proposed housing finance venture, named APAC Housing Finance, after obtaining approval from National Housing Bank, The Economic Times reported May 23.
APAC Housing Finance will be part of APAC Financial Services and will be headed by Harpreet Singh. APAC Housing Finance's license prevents it from accepting deposits from the public.
APAC Financial Services has already received a nonbanking fiance company license from the Reserve Bank of India.
National Housing Bank regulates housing finance companies.
