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LIC Housing Finance Limited (LIC HFL) is the largest Housing Finance Company in India, with a registered corporate office in Mumbai. It is a deposit taking housing finance company, and it is a subsidiary of LIC , mainly providing long-term financing to people who purchase or construct residential houses or flats.
Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹ 52.52 trillion (US$610 billion) as of March 2024. [ 4 ]
The LIC absorbed 154 Indian and 16 non-Indian insurers and 75 provident societies. The LIC had a monopoly until the late 1990s, when the insurance industry was reopened to the private sector. General insurance in India began during the Industrial Revolution in the West and the growth of sea-faring commerce during the 17th century.
Earlier she has also handled LIC Housing Finance which is a subsidiary of LIC. She played an important role in turnaround of this company by raising $29.85 million through global depository receipts in 2004. She segregated marketing and underwriting divisions and introduced risk-based pricing. [5] She is one of the directors of Axis Bank
The Housing and Urban Development Corporation Limited, abbreviated as HUDCO, is an Indian public sector undertaking engaged in housing finance and infrastructure project finance. The Govt Grants Navratna Status to PSU on 18-April-2024.
The investors were rattled as news of the arrests broke in Mumbai. The share of the LIC Housing Finance, Central Bank of India, Punjab National Bank, Bank of India as well as other banking and real-estate stock declined. [2] [6] The Union finance ministry initially claimed that the case was a bribery incident, and not a large-scale scam.
The Finance Act, 2019 has amended the National Housing Bank Act, 1987. The amendment confers the powers of regulation of Housing Finance Companies (HFCs) to the Reserve Bank of India. NHB registers and supervises Housing Finance Companies (HFCs), keeps surveillance through On-site & Off-site Mechanisms and co-ordinates with regulators.
Shriram Properties is a real estate developer focusing on mid-income housing projects, primarily in South India. [16] Shriram Fortune is the financial services distribution arm of the group. [17] Shriram AMC is an asset management company focused on mutual funds. [18] Shriram Insight is a retail stockbroker. [17]