The saga of India's first mortgage-backed securities is set to run for another few weeks, after an attempt to launch the deal was pulled at the last moment.

The deal - which has been nearly three years in the making - is sponsored by the National Housing Bank, the country's governing body for housing finance, and is backed by residential mortgages originated by LIC Housing Finance and the Housing Development Finance Corp. (ASRI 6/15/1998 p.1 and 7/3/2000 p.3).

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