Master Directions - Mortgage Guarantee Companies (Reserve Bank) Directions, 2016

Question 1

“Mortgage guarantee contract” means a …………… contract among the borrower, the creditor institution and the mortgage guarantee company, which provides the mortgage guarantee.

Answer 1

tri-partite

Question 2

Mortgage guarantee companies shall not accept …………………… and shall not avail …………………..

Answer 2

public deposits, External Commercial Borrowings

Question 3

NBFC-MGC shall Create Contingency Reserves of ……% of the premium or fee or ……% of profit.

Answer 3

40% or 25%