BANKING AFFAIRS

Detailed explanation-1: -Ans Housing and Urban Development Corporation Ltd (HUDCO), the premier techno-financing public sector enterprise, in the field of housing and infrastructure development in our country, was incorporated on 25th April 1970, as a fully owned enterprise of the Government of India under the Companies Act 1956.

Detailed explanation-2: -HUDCO was incorporated as ‘The Housing and Urban Development Finance Corporation Private Limited’ on April 25 1970 as a private limited company under the Companies Act 1956 and granted a certificate of incorporation by the then Registrar of Companies Delhi.

Detailed explanation-3: -(HUDCO) was incorporated as a fully owned Government Company under the Companies Act, 1956 with the main objective of financing Housing and Urban development projects in the country.

Detailed explanation-4: -Incorporated as the Housing and Urban Development Finance Corporation, in April 1970, the New Delhi-headquartered HUDCO is notified as a public financial institution.

Detailed explanation-5: -HUDCO’s primary mission is to assist, establish, collaborate, promote and provide consultancy services for planning and designing of projects. These plans are related to housing and urban development programmes in India and other countries.