DDA and Ambak Collaborate for Easier Affordable Housing Loans

The Delhi Development Authority partners with fintech firm Ambak to improve access to affordable housing loans. The MoU involves Ambak managing loan applications and enhancing DDA's outreach initiatives. Security measures will be implemented to protect personal data, ensuring confidentiality and efficient loan processing.

The Delhi Development Authority (DDA) has embraced an innovative approach to accessibility in affordable housing loans by joining hands with fintech company Ambak. This collaboration promises to simplify loan processes for economically weaker sections and middle-income groups.

As per the memorandum of understanding, Ambak will use its expertise to meet the financial and credit needs of potential homebuyers, enhancing the DDA's marketing efforts. Notably, this will be achieved without incurring additional costs, aligning with Lieutenant Governor's agenda to make dignified housing achievable for marginalized communities.

Apart from handling loan applications and ensuring swift disbursement, Ambak commits to offering financial literacy sessions. The fintech firm will prioritize data security to maintain confidentiality of personal information provided by DDA.

(With inputs from agencies.)