Save Solutions acquires North India based regional housing finance company

NEW DELHI: Making rapid advances within the industry, one of India’s largest Business Correspondent Networks,

Save Solutions

has acquired New Habitat Housing Finance And Development Limited (NHHFDL), The Bihar-head quartered company is working to offer its customers all-around financial products by also adding housing loans to the equation. Besides Bihar, the company will simultaneously extend its reach to other states including Delhi-NCR and UP. The move will further strengthen Save Solutions’ financial inclusion portfolio.

Ajeet Kumar Singh, founder director, MD & CEO, Save Solutions, said, “The acquisition brings our company to a full-circle. Save Solutions excels in offering all Banking and Financial Products under one roof to rural and semi-urban people. Through the acquisition of housing finance company New Habitat, we are on the fast track to becoming a full-spectrum Financial Inclusion group. It will go a long way in expanding our offering to underserved clients.”

The brainchild of Ajeet Kumar Singh, Pankaj Kumar, and

Ajay Kumar Sinha

, Save Solutions was incepted in 2010 and is backed by impact investors, Incofin and MAJ invest.

Apart from being a partner of several PSU banks & RRB like The State Bank of India, Bank of India, Bank of Baroda, Jharkhand Rajya Gramin Bank, Baroda UP Bank and Punjab National Bank, it is also a co-lending partner with State Bank of India.