Current affairs for lic hfl exam

 LIC HFL

LIC HFL is a subsidiary of LIC. 

Founded in 1989 by LIC

Registered in NSE.

Y Vishwanath Gowda- MD and CEO.

NHB

Created by GoI and RBI.

National Housing Bank

Function- supervisory function of all Housing Finance Companies.

Supervision means to take care of day to day activities.

Regulation of Housing Finance Companies (HFCs) is done by RBI.

Regulation means to form laws, circulars, etc.

NHB started working on 9th July, 1988.

NHB act was passed on 1987. It is a statutory body. 

 All India FI's include NHB, SIDBI, NABARD, EXIM, NABFINS

Committes to form NHB

Rangarajan committee recommended the formation of NHBs.

Narsimhan II committee in 2001 recommended that RBI should sell all its stake in NABARD and NHB to GoI. 

What is a Housing Finance Company

A HFC  is an NBFC. It is registered under companies Act, 2013. 

A total of 60% of the NBFC  should be with the Housing Finance Sector. (50% in the first year, 55% in the second year, 60% in the third year onwards).

Income generation from housing sector for such an NBFC should be at least 50%. (40% in the first year, 45% in the second year, 50% in the third year onwards).

Liquidity coverage ratio-
Minimum liquidity for NBFC  should be 85% of its capital for those NBFCs which have an asset of at least Rs. 1000 crore. (It increases from 60% to 70% to 85% in the third year). 
The value is lower for those NBFCs with assets less than Rs. 1000 crore.

Home Loan

It is a secured loan.
The home is the mortgage because the home is an immovable asset.
It is paid in small instalments. 
It is a long term loan.

RESIDEX

It is released by NHB. 
Full form- Residential Index
Released by NHB

Term Repayment Capacity

It is based on monthly disposable income, spouse's income and assets. 

Amortization schedules

It is a table that gives the details of periodization of principles and interest payment by loans.

It is convenient for borrowers in the beginning of their careers.

It is the schedule at which commercial banks charge their most trust worthy customers. 

BPLR

Benchmark Prime Lending Rate
It is greater than the base rate or equal to it.

Base rate is the minimum rate at which banks can give loans. 

Marginal Cost Lending Rate (MCLR) formula to calculate the base rate. 

PM Awas Yojana

It is formed by  merging two schemes- 
Indira Gandhi Awas Yojana for rural areas.
Rajeev Gandhi Awas Yojana for urban areas.
Housing for all slums is the scheme that wants to provide slum free rural and urban areas aby 2022. It has now been postponed. 


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