DDA partners with fintech company

NEW DELHI: The Delhi Development Authority (DDA) has signed an MoU with a new age fintech company Ambak to ensure easier accessibility of loans for affordable housing, an official statement said on Thursday.

The initiative will bolster L-G’s agenda of providing dignified housing to the marginalised at affordable costs, it said.

Under the agreement, DDA will provide Ambak with property details for various income categories (EWS, LIG, MIG, HIG). In turn, Ambak will not only cater to financial/credit requirements of the buyers, but will also bolster DDA’s marketing campaign by deploying its resources and manpower at no cost besides assisting credit requirements of potential buyers, it said.

Ambak will manage loan applications, ensure prompt disbursement, and offer financial literacy sessions, the statement said. The agency shall also take all security safeguards to prevent any breach of personal data provided by DDA and to ensure confidentiality of the data, it added.