HUDCO Full Form | Full Form of HUDCO
HUDCO Full Form - Housing and Urban Development Corporation Limited
- HUDCO stands for Housing and Urban Development Corporation Limited.
- It a wholly-owned government company which provides loans for housing and urban infrastructure projects in India.
- Its vision is to become a leading techno-financial institution to promote sustainable habitat development for transforming the lives of people.
- It's headquartered at New Delhi. Dr. M. Ravi Kanth IAS (KL: 86) is that the current (as of July 2017) Chairman & Managing Director of HUDCO.
Housing and Urban Development Corporation Limited
- The key objectives of the corporate as described in its Memorandum of Association are listed below:
- To provide long team loan for the construction of houses for residential purposes.
- To finance or undertake the setting up of new towns.
- To finance or undertake the setting up of enterprises of building material.
- To administer the cash received as grants from Government of India and other sources.
- To promote, establish and provide consultancy services for the projects related with Housing and Urban Development programmes.
- To set up HUDCO's own Mutual Fund related with Housing and Development programmes.
- It was incorporated as a private Ltd. "The Housing and concrete Development Finance Corporation Private Limited" on 25 April 1970.
- In the mid-1970s, its name was changed to its present name and a new certificate of incorporation was issued by the then Registrar of Companies, Delhi & Haryana.
- On 9 December 1996, it had been notified as a public financial institution under Section 4A of the businesses Act, 1956 by the Department of Company Affairs, Ministry of Finance, GOI.
- On 31 July 2001, NHB issued a certificate of registration to HUDCO permitting it to carry on the business of a housing finance institution.