BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It refers to the finance provided to individuals or groups of individual including co-operative societies.
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It is channeled by the way of terms of loans to housing finance institutions, housing boards etc.
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Bank finance extended to a person who is already owning a house in the town of village.
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Both a and c
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Detailed explanation-1: -2.1 Direct Housing Finance refers to the finance provided to individuals or groups of individuals including co-operative societies. 2.2 Banks are free to evolve their own guidelines with the approval of their Boards on aspects such as security, margin, age of dwelling units, repayment schedule, etc.
Detailed explanation-2: -“Housing Finance” shall mean financing, for purchase/ construction/ reconstruction/ renovation/ repairs of residential dwelling units, which includes: Loans to individuals or group of individuals including co-operative societies for construction/ purchase of new dwelling units.
Detailed explanation-3: -Housing finance companies are instrumental in providing finance to housing boards which are engaged in the process of building satellite towns near important urban areas. By building satellite towns, these organizations help to decongest urban areas and provide better housing facilities at affordable prices.
Detailed explanation-4: -1. HDFC. Founded in 1977, The Housing Development Finance Corporation Limited (HDFC) is one of the largest providers of housing finance in India. The company was founded with the aim of solving the housing shortage in the country.