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Housing Finance Pioneer Raj Vikash Verma Dies at 72
17 Oct
Summary
- Raj Vikash Verma, a former National Housing Bank chairman, passed away.
- He pioneered mortgage guarantee and reverse mortgage in India.
- Verma was instrumental in affordable housing and securitization initiatives.
Raj Vikash Verma, an eminent leader in India's financial sector and former Chairman of the National Housing Bank, passed away at the age of 72. Verma dedicated over four decades to advancing housing finance, mortgage, and financial markets in India.
He was a pioneer in introducing mortgage guarantee and promoting reverse mortgages for seniors. Verma was also central to establishing the ecosystem for low-income and affordable housing, conceptualizing and executing numerous social housing programs and financing schemes.
His advocacy was vital for developing mortgage-backed securitization in India, leading to structures like the India Mortgage Guarantee Corporation in 2012. Verma also served as the first CEO of CERSAI and chaired the Asia Pacific Union for Housing Finance.
