News: Housing and Urban Development Corporation Ltd. (HUDCO) recently celebrated its 52nd foundation day.
|Utility: UPSC, JPSC, BPSC Prelims & Mains
Section: Economy / Misc
- The Housing and Urban Development Finance Corporation Private Limited was incorporated in April, 1970, as a private limited company under the Companies Act, 1956.
- Subsequently, the name of our Company was changed to its present name, “Housing and Urban Development Corporation Limited”.
The main objectives of the Company:
- to provide long-term finance for the construction of houses for residential purposes or finance or undertake housing and urban development programs in the country;
- to finance or undertake, wholly or partly, the setting up of new or satellite towns;
- to finance or undertake the setting up of industrial enterprises of building material;
- to promote and provide consultancy services for the projects of designing and planning of works relating to Housing and Urban Development programs in India and abroad; among others.
- HUDCO has been instrumental in providing shelter to 1.90 crores urban as well as rural poor to get houses.
- HUDCO also provides financial assistance to the Governmental agencies in the field of infrastructure development of States.
- Cumulatively, at end of March 2022, HUDCO has sanctioned a total of 17,326 housing and urban infrastructure projects with a total loan component of Rs. 2,31,465 crore.