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HUDCO Celebrates its 46th Foundation Day

Apr 25th, 2016 9:11 am | By | Category: LATEST NEWS

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M Venkaiah Naidu, Minister of Urban Development, Housing & Urban Poverty Alleviation & Parliamentary Affairs, iugurated the function and addressed the august gathering to commemorate 46th Foundation Day of HUDCO’s. M Venkaiah Naidu highlighted the issue of water shortage and emphasized the need to make collective efforts in conserving water. He drew attention to the importance of water harvesting and advised that HUDCO should sanction projects wherein water harvesting is an essential component. He highlighted the 3Ds mantra – “Decentralizing, Devolution and Development” and 3Fs – “Funds, Functions and Functionaries”.He stressed to achieve the government’s vision for inclusive growth, the Government of India has AMRUT- Atal Mission for Rejuvenation and Urban Transformation, a 10-year programme, to rejuvenate 500 cities and towns of India and carry forward components such as augmentation of water supply, collection and treatment of sewage and garbage, building roads and flyovers taken up under the erstwhile schemes. M Venkaiah Naidu also highlighted the flagship programs of the Government such as Pradhan Mantri Jan-Dhan Yojana (PMJDY), Swachh Bharat Abhiyan and Make in India.  Shri M Venkaiah Naidu suggested that there is a need for timely and affordable credit but the focus should also be on timely repayments to reduce NPAs. Transparency and accountability should be the hallmark of every organization.  On the occasion, the  Minister released three HUDCO publications namely, HUDCO Darpan, Shelter and HUDCO Design Awards – 
2015. The Minister also gave away awards to the Best performing agencies, HUDCO Best Practices, Best Regional Offices, Long Service, HUDCO Design Awards and he congratulated all the recipients.
While delivering the Welcome Address Dr. M Ravi Kanth, CMD HUDCO highlighted the consistent achievements of MoU Targets by HUDCO. Congratulating HUDCO employees he emphasized that HUDCO is steadfast in working towards building assets for the nation. Outlining HUDCOs laudable performance in terms of sanctions, releases and reduction in NPAs during the year 2015-16, he mentioned that this was due to the unflinching support and 
constant guidance extended by the Union Minister and the Ministry of HUPA. He stressed that HUDCO must be ready to face the challenges to come, new opportunities to be explored, and for times of hard work, dedication and commitment in the year 2016-17. He also took the opportunity to thank the MoHUPA for the continued support extended to HUDCO to function effectively and attain not only the national objectives but also realization of its corporate goals.  Rajiv Ranjan Misra, Joint Secretary, MoHUPA congratulated HUDCO for achieving all the MoU targets. He highlighted that the reputation of HUDCO is well known in the financial market which is evident from the fact that HUDCOs Tax Free Bonds were oversubscribed in a short time.

Rakesh Kumar Arora, Director (Finance), HUDCO in his address stressed that the achievement of all MoU Targets was possible due to the able guidance and leadership of Dr. M. Ravi Kanth, CMD, HUDCO. He emphasized the relevance and importance of team work in achieving the results and hoped that the HUDCO team would continue to work with similar dedication during the year 2016-17. N.L. Manjoka, Director (Corporate Planning), HUDCO proposed the Vote of Thanks

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