The Company is committed to transparency in all its dealings and providing efficient service to its clients. The Board has therefore constituted Committees of Directors to deal with urgent matters, requiring quick and timely decisions and for overall supervision and guidance.

The Board has delegated certain powers to some of the Committees of the Board and these Committees decide the matters referred to them and report to the Board at the subsequent Board meetings. The Board has re-constituted additional power to the Executive Committee.

The Executive Committee formed by the Board is empowered to approve project loans to developers, corporates, housing boards and even individual borrowers beyond a certain limit for the construction / purchase of residential premises. The Committee has been empowered with the following:

• Borrow money up to Rs.8000/- crore (enhanced w.e.f. 19.01.2011) during the intervening period of two Board meetings for the business of the Company.
• Take over the portfolio of housing loans up to Rs.100 cr.
• Approve any new housing loan scheme.
• Revise interest rates; modify schemes for individual housing loans and avail of NHB refinance.
• To sanction any loan i.e. housing loan to individuals under any scheme, project loan to builders and Rental Securitisation Loan beyond the power given to Director & Chief Executive.

§         To waive Interest and additional Interest above Rs.7 lakh in respect of One Time Settlement and to waive full Principal amount.  

§         To waive Principal amount irrespective of the waiver amount involved in respect of One Time Settlement.

The Executive Committee meets as and when required for considering and approving loan proposals / offers within the power delegated to them. 

The composition of Executive Committee is as follows :

• Shri Sushobhan Sarker                      Chairman        Executive Director
• Shri K. Narasimha Murthy                   Member          Independent Director
• Shri A. S. Narayanamoorthy               Member          Independent Director
• Shri V. K. Sharma                               Member          Executive Director