Resource detail

This is an Act to establish a bank to be known as the National Housing Bank (NHB) to operate as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions.

The objective of this Act is to promote, establish, and/or support housing finance institutions. Some of the activities of NHB are: (i) to give loans and advances, render financial assistance for housing activities to housing finance institutions, scheduled banks, state co-operative agricultural and rural development banks or any other institution as may be notified by the Central Government; (ii) organise training programmes, seminars and symposia on matters relating to housing; (iii) provide guidelines to the housing finance institutions to ensure their growth on sound lines; (iv) provide technical and administrative assistance to housing finance institutions.

HNB can issue and sell bonds and debentures with or without the guarantee of the Central Government. Every housing finance institution shall furnish the statements, information or particulars called for to the NHB.