Team Adda247 and Bankers Adda have introduced a Special Banking Awareness series for SBI and IBPS Interviews 2021. In this series, we will be introducing the candidates with some banking awareness topics On a daily basis that will improve their general awareness and will also ensure that the candidates do not lack in any banking term when it comes to the interview round. Today the topic of our Banking Awareness Series is HUDCO. To know more about this banking awareness special series click on the link below
The Housing and Urban Development Corporation Limited
HQ: New Delhi
HUDCO, Housing and Urban Development Corporation Limited is a listed company with a major holding of the Government of India. It’s administrative control given to the Ministry of Housing and Urban Affairs.
HUDCO is one of the Public Sector Undertaking of GOI to provide long-term finance for the construction of houses for residential purposes. Its main objectives are: To finance or undertake housing projects in new or satellite towns, Helping to State housing boards, Improvement Trusts, Development Authorities, etc., which are specially for the purpose of financing housing and urban development projects, to promote the projects of designing and planning of works relating to Housing and Urban Development programmes in India and even in abroad, To finance or undertake industrial enterprises of building material. HUDCO is established to give long-term finance to roads and other transportation sectors which includes the construction of Airport, Railways, Ports, Metro Rails, Bridges and Flyovers. Cochin International Airport and Calicut International Airport in Kerala are financed and supported by HUDCO.
Main Sectors or Projects which are financed by HUDCO: Infrastructure sector (drainage, electricity, water supply, sewerage, solid waste management and road infrastructure in urban areas are priority projects in the Infrastructure sector).