CURRENT AFFAIRS

Detailed explanation-1: -HDFC Ltd has got a loan of $250 million from International Finance Corporation (IFC), the investment arm of the World Bank Group, to be used by India’s largest housing finance company for green housing.

Detailed explanation-2: -The IFC makes loans to businesses and private projects generally with maturities of seven to twelve years. It determines a suitable repayment schedule and grace period for each loan individually to meet borrowers’ currency and cash flow requirements.

Detailed explanation-3: -IFC finances projects and companies through loans from our own account, typically for seven to 12 years. We also make loans to intermediary banks, leasing companies, and other financial institutions for on-lending.

Detailed explanation-4: -IFC has committed over $15 billion in India since its first investment in 1958. Investments are spread over 215 clients in India.

Detailed explanation-5: -1.1 India is a founder Member 1.2 India Shareholding and Voting Power: 1.3As of November, 2012, India holds 81, 342 shares of IFC, which represents 3.43% of IFC’s subscribed share capital.