NHB probing Aavas Financiers over loan classification lapses

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AI summary

The National Housing Bank has recalled nearly Rs 500 crore in refinancing support from Aavas Financiers over loan classification lapses, a punitive step that has triggered a sweeping leadership overhaul. Managing Director and CEO Sachinder Bhinder has resigned, and Manu Singh, the former home loans head at Kotak Mahindra Bank, has been appointed as the new CEO effective April 20.