The National Housing Bank (NHB) has
formed a joint venture company, India Mortgage Guarantee Corporation, to extend
mortgage guarantee to banks & HFCs
against defaults by housing loan borrowers.
The move is likely to soften the
interest rates on housing loan. Mortgage guarantee will help expand the housing
finance sector along with stability.
It will also boost the housing sector
by making housing loans more accessible to a larger segment of the population.
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