.....has come into being with a vision to make early home ownership a real possibility through the provision of Mortgage Guarantee.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

____has come into being with a vision to make early home ownership a real possibility through the provision of Mortgage Guarantee.

A	SIDBI
B	ECGC
C	IMGC
D	NHB

Explanation:

Detailed explanation-1: -IMGC is the first Mortgage Guarantee Company in India. It was founded with a vision to make early home ownership a real possibility through the provision of Mortgage Guarantee.

Detailed explanation-2: -India Mortgage Guarantee Corporation (IMGC) is India’s first Mortgage Guarantee company (MGC). IMGC came into being with a vision of facilitating early home ownership by mitigating credit risk for home loan lenders. IMGC started operations in 2014 .

Detailed explanation-3: -India Mortgage Guarantee Corporation (IMGC), a joint venture between National Housing Bank, Genworth Inc. International Finance Corporation and Asian Development Bank, is providing mortgage default guarantee to the lending Institutions in India.

Detailed explanation-4: -Mumbai: ICICI Bank, India’s largest private sector bank, today announced the launch of the country’s first ‘Mortgage Guarantee’ backed loans for retail customers aspiring to purchase their first homes in the affordable housing segment.

Detailed explanation-5: -IMGC, which is registered with the Reserve Bank of India (RBI), provides guarantee for the repayment of an outstanding housing loan and interest accrued thereon up to the guaranteed amount to a bank or a housing finance company (HFC)on the occurrence of a trigger event.

There is 1 question to complete.