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    Question

    The Reserve Bank of India (RBI) has canceled the

    Certificate of Registration of Chennai-based Ind Bank Housing Ltd. HUDCO and which bank are the major shareholders of this housing finance company?
    A Indian Overseas Bank Correct Answer Incorrect Answer
    B Indian Bank Correct Answer Incorrect Answer
    C UCO Bank Correct Answer Incorrect Answer
    D Union Bank of India Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) has cancelled the Certificate of Registration of Chennai-based Ind Bank Housing Ltd.  Indian Bank and HUDCO (Housing and Urban Development Corporation Ltd) are major shareholders in the housing finance company, holding 51 per cent and 25 per cent stake, respectively. The company was set up in 1991. The housing finance company’s net loss widened to ₹55.78 lakh in FY23 against ₹12.93 lakh in FY22.

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