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NAREDCO Sets Up NFC

Published on October 29, 2022
Current Context: National Real Estate Development Council (NAREDCO) set up a NAREDCO Finance Committee (NFC) to assist large-scale developers in obtaining funds through financial institutions.
NAREDCO Sets Up NFC
  • 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
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