BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following companies is engaged in the principal business of financing of acquisition or construction of houses?
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House loan companies
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Housing finance companies
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HDFC
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None of the above
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Explanation:
Detailed explanation-1: -“Housing finance company” shall mean a company incorporated under the Companies Act, 2013 that fulfils the following conditions: It is an NBFC 1 whose financial assets, in the business of providing finance for housing, constitute at least 60% of its total assets (netted off by intangible assets).
Detailed explanation-2: -Banks include institutions like State Bank of India (SBI), ICICI Bank, Axis Bank, etc. HFCs include companies like DHFL, Indiabulls Home Loans, LIC Housing Finance, etc.
Detailed explanation-3: -There are over 100 housing finance companies in India.
There is 1 question to complete.