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Recruitment Trends in Housing Finance Sector
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In the union budget 2018, Finance Minister Mr. Arun Jaitley allocated a dedicated 'Affordable Housing Fund under the National Housing Bank NHB. This is looked upon as a significant step to further boost Pradhan Mantri Awas Yojana in the next five years. With government focus on ffordable Housing for All taking center stage, housing finance sector is expected to see a significant growth in terms of employment. The industry is expected to be impacted by a high demand for professionals and will continue to do so till 2022.
Quality professionals having experience specifically in home loan domain are expected to get the maximum benefit of this step. In recent years, NBFCs have overtaken banks as the first choice option for professionals. This is due to the fact that not only have NBFCs shown remarkable growth trends but have also increased two-fold in number over the last one year. In the last two-quarters NBFCs have given significant appreciation to their while banks have struggled to resolve NPA's thus losing out on retaining talent.
We may also see talent shift from different sectors towards housing specifically, as growth being stagnant in sectors like telecom. At the same time organizations need to work hard to retain talent with more transparent performance management system in place and keeping a track of performing employees which certainly going to benefit in long run. With such a trend, one can foresee that next five years will be a potentially positive time for the professionals associated with the housing sector.
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Disclaimer: The information contained in this post is for general information purposes only. IIFL Home Finance Limited (including its associates and affiliates) ("the Company") assumes no liability or responsibility for any errors or omissions in the contents of this post and under no circumstances shall the Company be liable for any damage, loss, injury or disappointment, etc. suffered by any reader. All information in this post is provided "as is", with no guarantee of completeness, accuracy, timeliness, or of the results, etc. obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability, and fitness for a particular purpose. Given the changing nature of laws, rules, and regulations, there may be delays, omissions, or inaccuracies in the information contained in this post. The information on this post is provided with the understanding that the Company is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. This post may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other agency or organization. This post may also contain links to external websites that are not provided or maintained by or in any way affiliated with the Company and the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. Any/ all (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan product specifications and information that may be stated in this post are subject to change from time to time, readers are advised to reach out to the Company for current specifications of the said (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan.
