The number of such NBFCs having exposure of more than 40 per cent of their assets was around 14. As compared to previous years, the exposure shows a rising trend, though. 6  BIS central bankers’ speeches  Mortgage Guarantee Companies (MGC) 26. A mention may also be made here with regard to mortgage guarantee companies.
An MGC is a company which primarily transacts the business of providing mortgage guarantee. Reserve Bank regulates them towards since 2008. The concept of MGC was mooted, as announced in the Union Budget Speech 2007–2008, to give greater comfort to banks and housing finance companies that lend against mortgages. So far only one MGC has been registered with the Bank.