The IMGC is the sole provider of mortgage guarantor for housing finance in India. The alphabet “I” in the abbreviation IMGC stands for________ A. India B. Institute C. Internal D. Informative E. International

The IMGC is the sole provider of mortgage guarantor for housing finance in India. The alphabet “I” in the abbreviation IMGC stands for________ A. India B. Institute C. Internal D. Informative E. International
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A. India Explanation: Mortgage Guarantee (also known as mortgage insurance in some parts of the world) is a financial product which compensates lending institutions or housing finance companies for losses that may arise when a home owner defaults on a mortgage loan. IMGC is the first company of its kind to introduce this kind of product in the Housing sector in India. The intention is to mitigate risk taken by lenders, banks and housing finance companies, over time making it easier for people to get access to home loans of higher values (or with lower down-payment amounts) earlier in life than would have been possible without IMGC‘s involvement.
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