- The NFC was formed by NAREDCO on the sidelines of the 24th Annual General Meeting (AGM) of NAREDCO, under the Ministry of Housing and Urban Affairs (MoHUA).
- Satish Kumar has been chosen as the Chairperson of the committee.
- Along with helping developers to get funds, the NFC will educate its members to boost their credit ratings.
- The NFC will act as a one-stop shop with multiple financing options from various merchant bankers and financial institutions.
- Merchant bank, Resurgent India Limited, will be actively associated with the NFC.
- For an application, the in-principle time of approval will be 15-30 days.
- NAREDCO is a regulatory body that was established in 1998 under MoHUA with its headquarters in New Delhi. Its current Chairperson is Rajeev Talwar.
Question:
Q.1 Who has been appointed as the Chairperson of the recently constituted NAREDCO Finance Committee (NFC)?a. Rajeev Talwar
b. Satish Acharya
c. Laxman Tyagi
d. Rahul Kamath
