CURRENT AFFAIRS

2019

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

Which bank has raised $100 million from International Finance Corporation for the purpose of lending to buyers in housing projects?

A	Kotak Mahindra Bank
B	Axis Bank
C	Punjab National Bank
D	IDBI Bank

Explanation:

Detailed explanation-1: -National Housing Bank (NHB) was set up by an Act of Parliament in 1987. NHB is an apex financial institution for housing.

Detailed explanation-2: -What is the role of NHB? NHB regulates the housing finance system of the country, extends refinance to different primary lenders and lends directly in respect of projects undertaken by public housing agencies for housing construction and development of housing related infrastructure.

Detailed explanation-3: -The Reserve Bank of India (RBI), therefore, proposed to take over the regulation of Housing Finance Companies (HFCs) by amending the National Banking Act from the National Housing Bank (NHB). The NHB had been set up as an apex institution to regulate housing finance in 1988.

Detailed explanation-4: -Small Industries Development Bank of India (SIDBI), NABARD (National Bank for Agriculture and Rural Development), EXIM Bank (Export-Import Bank) and. NHB (National Housing Bank)

There is 1 question to complete.